In a Los Angeles Enclave Where Celebrities and Business Titans Live, a Massive Home Sells for $70 Million

Billionaire businessman Alec Gores has sold his home in Los Angeles’ exclusive Beverly Park Circle enclave for $70 million, according to public records and people familiar with the business.

The buyer is Titan Golden Capital, an Irvine, California-based limited company affiliated with Chi Fai Ben Wong and Hao Tang, records show. Neither Titan Golden Capital nor Mr. Gores could be reached for comment.

The house wasn’t officially on the market, although real estate agency The Agency said in a 2018 Instagram post that it was listing the property for $95 million. According to a website used to market the home, the 40,000-square-foot French Normandy-style property was designed by architect Richard Landry and features 11 bedrooms. The gated property extends over 2 acres and includes a paved driveway leading to an olive tree dotted driveway surrounded by manicured rose gardens.

Alec Gores in 2021.

Photo:

Jennelle Fong for the Wall Street Journal

The living room features an antique limestone fireplace, according to the website. A wood paneled library has hand painted ceilings and glass doors leading to a garden terrace. The formal dining room features hand-laid French oak herringbone floors. There is also a wine cellar, gym and home office.

Agents included Jade Mills of Coldwell Banker Realty, and the agency’s Samira Gores, Christine Martin and Tiffany Martin.

Mr. Gores, brother of Detroit Pistons owner Tom Gores, has made billions in the private equity industry, with deals involving companies like Twinkie maker Hostess Brands, The Wall Street Journal reported. Through his company, the Gores Group, he was a significant force in popularizing SPACs, or special purpose acquisition companies, beginning in the mid-2010s.

Beverly Park, a gated community, has long been one of the most desirable areas in the LA area, attracting the likes of Denzel Washington and Sylvester Stallone.

Write to Katherine Clarke at [email protected]

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