Montage Beverly Hills Hotel Said to Fetch More Than $400 Million
- Nightly rate in Beverly Hills’ Golden Triangle can top $10,000
- Ohana said to sell property for more than $2 million a key
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Ohana Real Estate Investors has reached a deal to sell the Montage Beverly Hills, a five-star hotel in the heart of the California city’s luxury shopping district, people with knowledge of the matter said.
The seller has taken a deposit from a Middle Eastern buyer on the 201-room property at a price of more than $2 million a key, said one of the people, who asked not to be named because the matter is private. The transaction has yet to close and may still fall apart, the person cautioned. The identity of the buyer couldn’t immediately be learned.