High above the streets of Los Angeles, residents of the Beaudry can gaze across the Hollywood skyline, take a dip in a heated saltwater pool, practise their swing on a golf simulator and even send their dog to the spa. Living in the 64-storey skyscraper doesn't come cheap. Its 785 apartments command average rents of $4,200 (£3,200) a month, and 95pc are occupied. By most measures, the $600m building sounds like a property developer's dream. So why did its owner choose to hand back the keys? Brookfield, the Canadian asset management giant that built the tower, decided last month that walking away made more sense than refinancing the $360m loan attached to it.
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