Detroit Pistons owner Tom Gores pays $38M for his former Beverly Park home

Facebooktwittergoogle_plusredditpinterestlinkedintumblrmailFacebooktwittergoogle_plusredditpinterestlinkedintumblrmail

Detroit Pistons owner Tom Gores pays $38M for his former Beverly Park home

The home was traded last year as part of the deal to acquire a $100M spec

Tom Gores, Tom Gores’ Mansion in Beverly Park (Credit: Getty Images, Realtor.com)

Detroit Pistons owner Tom Gores is headed back to his home court.

Gores, who is also the chairman and chief executive of private equity firm Platinum Equity, dropped $38 million to acquire his former Beverly Park home, the Los Angeles Times reported. He sold it to developers Gala Asher and Ed Berman for $40 million in October 2016, property records show.

Gores traded the home, as well as 3.2 acres of undeveloped land in Bel Air, last year as part of a deal to acquire a newly built, $100 million spec house on Carolwood Drive in the Holmby Hills. That property, which sits on Barbra Streisand’s former “Mon Rêve” estate, spans 38,000 square feet.

The 24,000-square-foot Beverly Park pad, designed by Donald Ayres, contains seven bedrooms, 14 bathrooms, an expansive swimming pool, outdoor lounge area and several gardens.

Gores originally paid $21 million to acquire the property in 2010. It hit the market asking $49 million in March.

The Israeli-Arab-American billionaire founded the Beverly-Hills based firm Platinum Equity in 1995. He’s since turned his attention to professional sports, acquiring a majority stake in the Pistons in 2011 for $325 million. He then became sole owner in 2015, buying the 49 percent remaining stake from Platinum Equity. [LAT] – Natalie Hoberman

Source: TRD LA

Facebooktwittergoogle_pluslinkedinrssyoutubeinstagramfoursquareFacebooktwittergoogle_pluslinkedinrssyoutubeinstagramfoursquare