BEVERLY HILLS, CA-Korman Communities has purchased the Crescent Beverly, an apartment complex located at 155 N. Crescent Drive in Beverly Hills, California, for $85 million. The company will bring its luxury, extended-stay residence called AKA brand to this address. It plans to invest $10 million to renovate the complex, which has a parking garage and a 40,000-square-foot office space.
After renovation, the building will feature 88 units. Starting rate for the units will be roughly $400 per night. For the full story, go to Philadelphia Business Journal .
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