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Buyer revealed: Guggenheim founder Mark Walter is behind $85M purchase of David Geffen’s estate

The sale set a Malibu record
June 05, 2017 06:10PM

Mark Walter, Carbon Beach compound (Getty Images/Bing)

Looks like Mark Walter hit it out of the park.

The founder and CEO of Guggenheim Partners, which owns the Los Angeles Dodgers, has been revealed as the mystery buyer of David Geffen’s $85 million Carbon Beach compound.

Property records last month listed the buyer as a mysterious entity with an address in Miami, but Yolanda’s Little Black Book and Variety reported Monday that it was attached to the billionaire financier.

The beachfront pad originally spanned across five parcels but Geffen combined them into two lots.

The two-story residence with two guesthouses is Walter and his wife Kimbra’s first L.A. residential property, according to Variety. The couple own a custom-built 26,000-square-foot mansion in Chicago spread across at least seven contiguous lots, which they acquired in a series of purchases totaling more than $9 million. [Variety]Subrina Hudson