Half of Montage Residences Beverly Hills Sold

BEVERLY HILLS, Calif., April 5, 2011 /PRNewswire/ -- Montage Residences Beverly Hills, the luxurious private "homes within a hotel" that crown the top three floors of Montage Beverly Hills, the 201-room Five Star hotel in the heart of the city's Golden Triangle, have announced the sale of the tenth of their twenty Residences, a three bedroom, three bath which sold for $6.6 million, or approximately $2200 per square foot.   This most recent sale follows on the heels of a four-bedroom Residence which sold for over $10 million, the second Residence to top the $10 million price point.

"We continue to be encouraged by the response we've received," said John Mansour, representative for Owner, Beverly Hills Luxury Hotel LLC, "Our buyers clearly recognize and appreciate the unparalleled quality, attention to detail and unique amenities we offer along with a location that simply cannot be duplicated."

The collection of twenty Residences affords owners all of the services and special features associated with the luxury hotel, including access to the 20,000 square foot spa, fitness center and restaurants featuring award-winning celebrity chef Scott Conant's newly opened Scarpetta.   Residents also enjoy the services of their own dedicated concierge staff as well as a full complement of hotel staff, providing them with a staff to resident ratio that cannot be matched.   The two to five bedroom Residences range from 1900 to 5700 square feet and are priced from $4.6 to $16.8 million.

About Montage Hotels & Resorts

Montage Hotels & Resorts is a hotel and resort management company founded in 2002 by Alan Fuerstman.   Designed to serve affluent travelers and homeowners, the company features an artistic collection of distinctive hotels, resorts and residences in stunning settings that offer comfortable elegance, a unique sense of place and spirit, impeccable hospitality and memorable culinary, spa and lifestyle experiences.   Montage Laguna Beach, the company's flagship oceanfront resort, opened in the vibrant arts community of Laguna Beach, California, in 2003.   Montage Beverly Hills, the company's second hotel, opened in Beverly Hills in 2008 and was the first Gold LEED certified hotel and residences in Southern California.   Montage Deer Valley, located in Park City, Utah, is the company's third property, which opened in December 2010.    www.montagehotels.com

About Beverly Hills Luxury Hotel LLC

Montage Beverly Hills is owned by affiliates of Ohana Real Estate Investors (OREI), The Athens Group and Montage Hotels & Resorts.   In addition to Montage Beverly Hills, OREI also owns a portfolio of luxury hospitality assets including Montage Deer Valley, Montage Laguna Beach and real estate parcels in Los Cabos, Mexico; Kauai, Hawaii; and Northern California. www.ohanare.com.

Joy Denton of Sotheby's International Realty in Beverly Hills has the Montage listings.

SOURCE Montage Residences Beverly Hills