"The property includes a 15,000-square-foot main house of eight bedrooms and 14 bathrooms, two guesthouses, a gym, a swimming pool and more than 300 feet of beach front."
"Marks is chairman of Oaktree Capital Management, which he co-founded. The Los Angeles investment firm has owned about 23% of Tribune, including the Los Angeles Times, since it emerged from bankruptcy."
"The Markses bought the home in 2002 for $31 million, according to public records. The seller was the estate of Herbalife founder Mark Hughes."
A luxury Malibu estate spanning 9.5 acres sold for approximately $75 million in an off-market transaction, representing the top home sale in the Los Angeles area for the year. The property features a 15,000-square-foot main residence with eight bedrooms and 14 bathrooms, two guesthouses, a gym, swimming pool, and over 300 feet of beachfront. The estate was owned by Howard Marks, chairman of Oaktree Capital Management, and his wife Nancy. They originally purchased the property in 2002 for $31 million from the estate of Herbalife founder Mark Hughes. The transaction was handled as a pocket listing by Fred J. Bernstein of Westside Estate Agency.
#luxury-real-estate #malibu-property-sales #high-end-residential-market #off-market-transactions #billionaire-real-estate
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