Detroit Pistons owner Tom Gores springs for familiar spot in Beverly Park
It’s safe to say he’s familiar with the place.
Tom Gores, chairman and CEO of Platinum Equity and owner of the Detroit Pistons franchise, has bought his former home in Beverly Park for $38 million in a deal completed off-market.
The Tuscan-style mansion, built in 2000, was among the chips used by Gores to purchase a newly built estate in Bel-Air last year for $100 million. As part of the transaction, the billionaire traded developed and undeveloped properties for the 30,000-square-foot spec house on Carolwood Drive.
The Beverly Park estate later appeared in the public record in October 2016 with a sale price of $40 million, and in March was listed for $49 million.
Designed by Donald Ayres, the mansion has 24,000 square feet of interior space. Formal and informal living spaces feature beamed ceilings, contemporary fixtures and elaborate stone fireplaces. There are seven bedrooms and 14 bathrooms across two floors.
Loggias and covered patios create additional living space outside. A swimming pool and spa, lawns, mature trees and gardens fill out more than two acres of grounds.
Gores, whose net worth is reportedly $3.7 billion, originally bought the property through a corporate entity in 2010 for slightly more than $21 million, records show.
The 53-year-old businessman founded the Beverly Hills-based private equity firm Platinum Equity in 1995. He acquired a majority stake in the Pistons in 2011 for $325 million, and bought out the remaining shares of the team two years ago, giving him 100% equity in the franchise.
Twitter: @LATHotProperty
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