Lampert pays $40 million for Indian Creek mansion

Hedge fund manager Edward Lampert has paid $40 million for a 17,000-square-foot estate on Indian Creek Island, Bloomberg reported. The property, which was not publicly listed, could close within a month, according to Kevin Tomlinson, vice president at One Sotheby’s International Realty, which represented buyer and seller in the deal. Lampert, who controls Sears Holdings, bought the home from Paul Cejas, chairman and CEO of PLC Investments, and his wife, Trudy. According to the Wall Street Journal, One Sotheby’s Jorge Uribe was involved in the deal. [WSJ via Bloomberg]