Foreign Property News | Posted by Shwe Zin Win
In a somewhat surprising move, President Donald Trump has sold his longtime Beverly Hills estate, reportedly his last remaining West Coast residential outpost, for $13.5 million in a hush-hush deal that closed off-market.
That transaction price is nearly double the $7 million Trump originally paid for the property, which was rarely used in the twelve years following his February 2007 purchase.
The buyer, who acquired the property via “Hillcrest Asia Limited,” an offshore entity headquartered in the British Virgin Islands, is billionaire Indonesian businessman Bambang Hary Tanoesoedibjo.
Also known as Hary Tanoe, the colorful 53-year-old owns the MNC Group, a multinational conglomerate with interests in media, finance, and real estate.
Like Trump, Tanoe is a high-profile, attention-grabbing (he boasts nearly one million followers on Instagram) investor who also harbors political aspirations.
In 2015, he founded the Indonesian Unity Party following public disagreements with his native country’s two primary political parties.
He is also a noted Trump fan and associate, having attended the president’s 2017 inauguration with his wife Liliana Tanaja and having developed a Trump-branded resort in Bali.
Tanoe reportedly keeps a signed “Make America Great Again” cap in his office.
As for the Trump-cum-Tanoe Beverly Hills property, interior photographs are scant.
But public records show that the vaguely Tudor-style house was built in 1927 and sports 5,395 sq. feet of living space within its pale yellow walls.
There are sprawling lawns, a detached garage with upstairs caretaker’s quarters, and a detached pool house.
on the .67-acre lot, which sits in the prime Beverly Hills Flats neighborhood at the junction of several of Beverly Hills’ busiest streets and directly across the road from the iconic Beverly Hills Hotel.
The Trump Org ultimately paid at least $1,100 in fines to Beverly Hills city in 2017 alone for failing to prune their privets.
Ref: Property Report
