Saudi royal shops $85M Beverly Hills compound as redevelopment opportunity

The property spans 6.7 acres

Photo illustration (Credit: Wikimedia Commons)
Photo illustration (Credit: Wikimedia Commons)

A second-generation member of Saudi Arabia’s ruling family is seeking a buyer for his 6.7-acre compound in Beverly Hills, the Wall Street Journal reported. He is asking $85 million for the property, which is being shopped off market.

Marketing materials suggest three mansions — that each span 30,000 square feet — could be built on the site.

A 1961-built home, equipped with three bedrooms and four bathrooms, is currently on the land. The gated estate, located on Ridgecrest Drive, overlooks the Pacific Ocean and Downtown Los Angeles.

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Joyce Rey of Coldwell Banker Previews International has the listing.

Ridgecrest Holdings has owned the property since 1996, records show. Sources familiar with the deal confirmed to the Journal that a member of Saudi Arabia’s ruling family, the House of Saud, is connected to the holding company. [WSJ]Natalie Hoberman