Detroit Pistons owner Tom Gores pays $38M for his former Beverly Park home

The home was traded last year as part of the deal to acquire a $100M spec

TRD LOS ANGELES /
December 04, 2017 05:00 PM
Tom Gores, Tom Gores’ Mansion in Beverly Park (Credit: Getty Images, Realtor.com)

Detroit Pistons owner Tom Gores is headed back to his home court.

Gores, who is also the chairman and chief executive of private equity firm Platinum Equity, dropped $38 million to acquire his former Beverly Park home, the Los Angeles Times reported. He sold it to developers Gala Asher and Ed Berman for $40 million in October 2016, property records show.

Gores traded the home, as well as 3.2 acres of undeveloped land in Bel Air, last year as part of a deal to acquire a newly built, $100 million spec house on Carolwood Drive in the Holmby Hills. That property, which sits on Barbra Streisand’s former “Mon Rêve” estate, spans 38,000 square feet.

The 24,000-square-foot Beverly Park pad, designed by Donald Ayres, contains seven bedrooms, 14 bathrooms, an expansive swimming pool, outdoor lounge area and several gardens.

Gores originally paid $21 million to acquire the property in 2010. It hit the market asking $49 million in March.

The Israeli-Arab-American billionaire founded the Beverly-Hills based firm Platinum Equity in 1995. He’s since turned his attention to professional sports, acquiring a majority stake in the Pistons in 2011 for $325 million. He then became sole owner in 2015, buying the 49 percent remaining stake from Platinum Equity. [LAT] – Natalie Hoberman


Related Article

arrow_forward_ios
From left: Kristen Dunst and her former home on Toluca Lake Road, and Roy E. Disney and the home in Toluca Lake (Credit: Getty Images and Redfin)

This week in celeb real estate: Kirsten Dunst makes lightning sale in Toluca Lake, home owned by Disney heir trades again…and more

Home at Stratford Circle with Hungarian couple Ildiko Szekeres and Gyorgy Nagy (Credit: Getty Images)

Olympic curlers score Bel Air Crest mansion that lingered on the market for 4 years

Skid Row Housing Trust CEO Lee Ragas

Prolific DTLA affordable housing developer pushes into Van Nuys

Roy E. Disney and the home in Toluca Lake

That Disney magic? Toluca Lake home that belonged to a Disney heir sells over asking

arrow_forward_ios