Oaktree Capital co-founder pays $26M for Holmby Hills mansion
Billionaire Howard Marks and wife add to their luxury real estate holdings, which include properties on East Coast
Oaktree Capital co-founder Howard Marks and his wife, Nancy, who are no strangers to luxury real estate, added another Los Angeles area mansion to their holdings.
Billionaire Marks and his wife paid $26.2 million for a Holmby Hills mansion, according to Variety.
The couple acquired the 11,500-square-foot mansion at 219 South Mapleton Drive from Kristen Tutor. She is the sister of Douglas Elliman agent and “Million Dollar Listing” cast member Tracy Tutor, who held the listing. Kristen Tutor paid $13.2 million for the home in 2009.
The mansion was built in 1937 and has nine bedrooms and bathrooms. The grounds covers three quarters of an acre and includes a swimming pool and grassy lawns. There’s a detached guest house with two bedrooms and staff quarters.
Howard and Nancy Marks own a two-house compound in Beverly Hills, and regularly wheel and deal in L.A. real estate. They closed what was then the largest sale in Malibu history in 2013, when they sold their estate at 33064 Pacific Coast Highway for $74.5 million.
They also own four properties in the Hamptons.
Meanwhile, Marks’ Oaktree firm said in April it was looking to raise $15 billion to start distressed debt fund, which would be the largest of its kind. Marks’ holdings also included a unit at the luxury co-op 740 Park Avenue in Manhattan. [Variety] — Dennis Lynch