"Tom Gores, the chairman and CEO of Platinum Equity and owner of the Detroit Pistons franchise, has taken control of a newly built spec home in Holmby Hills in a complex, $100-million deal in which multiple properties changed hands. As part of the sale, Gores traded a number of his own Los Angeles-area holdings, both developed and undeveloped, for the estate on Carolwood Drive."
"The spec house Gores acquired is a two-plus-acre estate built on the grounds of an estate once owned by Barbra Streisand. It was developed by Gala Asher, who purchased the property as a vacant lot two years ago for $13.2 million. It had been listed for sale since April at $150 million."
"The sprawling contemporary-style home offers more than 30,000 square feet of interior space, with 10 bedrooms and 20 bathrooms spread across the main residence and several guesthouses. The master suite alone takes up 5,300 square feet. Other features include a lounge, a wine room and a theater complex complete with a separate valet entrance for guests."
Tom Gores, chairman and CEO of Platinum Equity and owner of the Detroit Pistons, completed a complex $100 million real estate transaction in Holmby Hills. He acquired a newly built two-plus-acre spec home on Carolwood Drive by trading multiple Los Angeles-area properties, including two undeveloped Bel-Air parcels totaling 3.2 acres, while retaining a profits interest in the traded properties. The estate, built on grounds formerly owned by Barbra Streisand, was developed by Gala Asher who purchased the vacant lot two years prior for $13.2 million. The contemporary-style home spans over 30,000 square feet with 10 bedrooms, 20 bathrooms, multiple guesthouses, three pools, spa facilities, wine room, theater complex, and private hiking trail.
Read at Los Angeles Times
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