A 31-acre property that was once owned by Bruce Willis has changed hands in a deed in lieu of foreclosure arrangement.
The debt transaction took place more than a year ago, in early 2021, but was only recorded by L.A. County last month.
The large, mostly undeveloped property is located in a choice area of L.A. — the mountains between Beverly Hills and Sherman Oaks, along the famously winding Mulholland Drive. It includes eight different parcels that total just over 31 acres. Only one of the parcels, at 13511 Mulholland Drive, has a house on it — a four-bedroom, 2,900-square-foot home with stucco walls that was built in 1953.
(Source: Kealy Construction)
Willis, in conjunction with other entities, sold the home and surrounding land in 2016 for $6 million, according to records. It’s unclear exactly when the now 66-year-old action star bought the parcels, but in 2016 Variety reported he may have bought the five-acre lot with the house in 1987 and then acquired the additional land in the 1990s. That timetable would mean that Willis likely bought the house shortly before filming “Die Hard,” his first major hit, a blockbuster hostage thriller was released in July 1988. (Listing sites show that 13511 Mulholland did change hands in 1987, for $1.2 million.)
A grant deed shows Willis’ name on the 2016 transaction pertaining to three parcels, while two additional investment trusts were listed as pertaining to the remaining five parcels. Two LLCs affiliated with an Hermosa Beach developer bought all eight parcels, then took on various financing. In 2021, the most recent recorded activity on the property, the same two entities transferred all eight parcels to a lender, Grimm Investments, instead of facing foreclosure on a $6.4 million debt. Grimm Investments is based in Santa Barbara.
In 2019 Willis and his wife, the model and actress Emma Heming, now have a $10 million house in Brentwood Park. The star has also been involved in various other real estate deals, including in New York and Turks and Caicos, where in 2019 he sold a seven-acre compound with three houses for $27 million.
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