The Purchase Is His Most Significant Real Estate Investment
Renowned hedge fund tycoon Thomas Laffont and his wife Liz have recently concluded their most significant real estate investment yet—a compound consisting of two houses and four parcels located in Pacific Palisades, Dirt.com reported.
The high-priced acquisition amounted to nearly $50 million for the couple. The transaction reportedly took place through two distinct deals. Initially, in November, as initially disclosed by The Real Deal, Laffont purchased two of the property’s four parcels for $29.5 million. These parcels included a 7,200-square-foot house and a separate section featuring a full-size tennis court. Subsequently, four months later, he proceeded to acquire the remaining two parcels for an additional $18 million, which encompassed a 5,500-square-foot house.
Overall, the total expenditure for the entire compound reached $47.5 million.
Ben Silverman, a prominent Hollywood executive and the executive producer of acclaimed television shows like “The Office” and “Jane the Virgin,” served as the seller of all four parcels to the Laffonts, Dirt reported. It appears that Silverman gradually assembled the substantial estate, which spans approximately 1.4 contiguous acres, amassing a total investment of about $20 million.
Laffont is a billionaire who launched Coatue with fellow billionaire brother Philippe Laffont. His current holdings include a $12 million Montecito home and a $10 million property on Point Dume in Malibu, Dirt reported.
