Cleveland Cavs co-owner buys Beverly Hills home for $27M

Gary Gilbert, a film producer, will also be closer to LeBron James, now an LA Laker

Los Angeles /
Oct.October 02, 2018 02:00 PM
Gary Gilbert, a co-owner of the Cleveland Cavaliers, purchased a home in the Beverly Hills flats for $26.5 million (Credit: Google Maps)

While he won’t be donning a Lakers jersey anytime soon, a co-owner of the Cleveland Cavaliers is making the same sort of big bet on L.A. real estate as former Cavs star LeBron James.

Gary Gilbert purchased a home in the flats neighborhood of Beverly Hills for $26.5 million, the Wall Street Journal reported. Entrepreneur Jared Pobre, husband of former professional wrestler Stacy Keibler, was the seller. Pobre had bought the home through a holding company in 2015 for $20.5 million.

Located on North Hillcrest Road, the 12,532-square-foot home includes five bedrooms and an outdoor pool, according to property records.

Gilbert is president of Gilbert Films, which co-produced “La La Land” and “The Kids Are All Right.” He also owns a minority stake in the Cleveland Cavaliers. His brother, Quicken Loans founder Dan Gilbert, is the majority owner.

While a sizable investment, the Gilberts may have to step up their game if they want to compete with James in L.A. The NBA superstar, who is now on the Lakers, owns two homes in Brentwood he bought for $21 million and $23 million.

Steven Schaefer and Jay Luchs, co-founders of Newmark Residential, brokered the deal for Gilbert. [WSJ] – Gregory Cornfield


Related Articles

arrow_forward_ios
Mauricio Umansky and Kyle Richards with home in Bel Air (The Agency, Getty)
Mauricio Umansky sells Bel Air home for $6M
Mauricio Umansky sells Bel Air home for $6M
Ashton Kutcher And Mila Kunis Sell Hidden Valley Home For $10M (Getty Images, Zillow)
Ashton, Mila net $10M for Beverly Hills estate
Ashton, Mila net $10M for Beverly Hills estate
1013 N Beverly Dr (Rochelle Maize Realty, iStock)
Billionaire Berggruen buys some elbow room in Beverly Hills
Billionaire Berggruen buys some elbow room in Beverly Hills
Max Azria and his Holmby Hills property, Paul R Williams and Sidney Sheldon (Getty Images, Zillow, Wikipedia, Los Angeles Conservancy, Illustration by Kevin Cifuentes for The Real Deal)
Label this a bargain–price cut on late designer’s estate
Label this a bargain–price cut on late designer’s estate
Grant Cardone and 21808 Pacific Coast Highway in Malibu (Cardone via Ray Kachatorian, Compass)
“Malibooyah!”: Grant Cardone revealed as buyer of Ukrainian tycoon’s mansion on Carbon Beach
“Malibooyah!”: Grant Cardone revealed as buyer of Ukrainian tycoon’s mansion on Carbon Beach
Former Google CEO Buys House Next To Holmby Hills Mansion (Realtor.com, Getty Images)
Former Google CEO buys some elbow room in BHPO
Former Google CEO buys some elbow room in BHPO
Ukrainian tycoon finds buyer for Malibu mansion
Ukrainian tycoon finds buyer for Malibu mansion
Ukrainian tycoon finds buyer for Malibu mansion
David Spade and 1120 Wallace Ridge (Getty, Hilton & Hyland)
David Spade seeks $20M in Beverly Hills
David Spade seeks $20M in Beverly Hills
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...