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Los Angeles

Hankey claims default on Kerkorian mansion in Malibu

Late billionaire's daughter allegedly falls behind on mortgage payments

Kirk Kekorian’s Daughter Falls Behind on Malibu Mortgage
Kirk Kekorian with 23872 Malibu Road (Getty, Google Maps)

Linda Kerkorian Kemper, the daughter of late billionaire Kirk Kerkorian, has allegedly defaulted on a Malibu mansion that she has owned for nearly two decades.

The property at 23872 Malibu Road is a five-bedroom, eight-bath mansion located in the celebrity-studded Malibu Colony enclave. The lender on the asset, developer Hankey Investment, filed a notice of default on Sept. 11, claiming that Kerkorian Kemper fell behind by $867,932 in payments, according to records filed with the Los Angeles County Registrar’s office. 

She jointly owns the property with her husband, real estate investor Ross Hilton Kemper. The couple secured a $2 million mortgage on the property in 2017, property records show. The loan was later modified to increase the principal to $9.6 million, according to the default notice. 

The couple bought the home in May 2005, property records show.   

The unpaid amount that Hankey claims on the mortgage was as of Aug. 31, according to the filing. The firm has the option to schedule a sale date for the home 90 days after filing the default notice. 

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Kirk Kerkorian, described in his New York Times obituary as a “media-shy investor” who “baffled business rivals and Wall Street analysts,” was the world’s second-oldest billionaire when he passed away at the age of 98 in 2015. During his lifetime, he owned the MGM movie studio, the original MGM resort in Las Vegas and Trans International Airlines. 

Linda Kerkorian Kemper is one of the late billionaire’s two children, according to Forbes. In 2015, the family had an estimated net worth of $3.2 billion. 

Ross Hilton Kemper, meanwhile, is an investor whose portfolio includes real estate, media and consumer health, according to his profile on Cornell University’s website. 

This is not the first time that Hankey has made a claim on a luxury home in Los Angeles. In March 2021, the firm filed a notice of default on “The One,” a 100,000-square-foot spec mansion in Bel Air developed by Nile Niami. In the filing, Hankey claimed that the original $82.5 million mortgage on the property ballooned to around $110 million.  

Linda Kerkorian Kemper and Ross Hilton Kemper could not be reached for comment. 

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