Sales price of Reagan estate trickles up to six times its 1986 value

Media mogul Jerry Perenchio bought Bel Air estate for $15M

Jul.July 13, 2016 02:00 PM

Here’s some Reaganomics for you: Billionaire media mogul Jerry Perenchio recently bought the longtime Bel Air home of Ronald and Nancy Reagan for $15 million — six times more expensive than its price tag in 1986, when a group of friends purchased it on the the couple’s behalf.

The 7,200-square-foot mansion sits on a 1.3-acre estate and has 17 rooms across two stories, the Los Angeles Times reported. Outside, there’s a swimming pool on well-manicured grounds.

Perenchio, who represented Marlon Brando and Reagan back in his Hollywood days, owns several properties nearby, including the mansion seen on “The Beverly Hillbillies.” Since 2000, he has been on the board of trustees for the Ronald Reagan Presidential Foundation.

Neighbors in the established Bel Air community include Joan Rivers and producer Burt Bacharach. Down the road is the $46.3 million Liongate estate, acquired last year by philanthropists James and Eleanor Randall. [LAT]Cathaleen Chen

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