Celebrity restaurant backers snap up prime LA real estate

Famous investors debut eateries in their own backyard

Louis Tikaram, the executive chef of E.P. & L.P., at left, with sous chef Richard Gregory.
Louis Tikaram, the executive chef of E.P. & L.P., at left, with sous chef Richard Gregory.

From the Southern California market report:  Los Angeles is serving up a new role for celebrities and their quasi-celebrity counterparts: restaurateur.

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Expanding on a trend sparked by the tremendous success over the years of the Hard Rock Cafe — which counts Tom Cruise and Steven Spielberg among its L.A. outpost investors — actors, producers and musicians are increasingly putting their dough into L.A. eateries. Now these A-listers are helping to drive demand for storefronts from Silver Lake to West Hollywood, real estate experts say. [more]