Billionaire Frank McCourt sells equestrian estate in Wellington: $12M

The McCourts paid $11M for the 5-acre property in 2013

Apr.April 13, 2016 06:15 PM

Former Los Angeles Dodgers owner and current real estate mogul Frank McCourt sold his Wellington estate for $11.85 million, records show.

The billionaire and his wife Monica McCourt sold the 5.2-acre equestrian property at 13808 Fairlane Court to Gyllebo South LLC, an entity controlled by Asa Bjorklund. Bjorklund heads the Gyllebo Farm, which is also in Wellington.

The Mallet Hill estate includes a Mediterranean-style home with a master suite, and a guest house with a media room, master bedroom and gym overlooking gardens. Palm Beach County records show the McCourts paid nearly $11 million for the 10,476-square-foot property in 2013. It was built in 1997.

The Boston developer, whose estimated net worth is $1.2 billion, is president of the McCourt Group and 50 percent owner of the equestrian show jumping series Global Champions Tour. He’s best known for owning the Dodgers from 2004 to when he sold the team in 2012 for $2.15 billion.

McCourt expanded his real estate holdings to New York City in 2013, when his firm paid $167 million for a development site on Manhattan’s Far West Side.

In March, fellow billionaire Bill Gates closed on a $13.5 million Wellington home next to his ranch, with plans to buy much more in the near future.

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