Los Angeles Rams owner Stan Kroenke now has two units at the exclusive Maybourne Beverly Hills condominium building that’s part of the luxe hotel by the same name in the city’s Golden Triangle.
The buy came a decade after Kroenke got his first condo at the 20-unit building at 225 N. Canon Drive. The latest deal was for a penthouse sold by L.A. Fitness founder Louis Welch and his wife, Michu, according to Dirt.
The 4,900-square-foot unit cost Kroenke and his wife, Anne Walton Kroenke, $23.8 million. It’s a record price for the Maybourne Beverly Hills–beating the previous mark set when the Welches bought the same penthouse in 2017 for $19.7 million.
It’s also more than twice what the Kroenkes paid in 2011 for their three-bedroom unit at the complex.
Their new unit has four bedrooms and five bathrooms. The deal was made off-market, so there are no photos available of the unit. The building includes a spa facility, a five-star restaurant, rooftop swimming pool, and reservation-only bars.
Kroenke built his fortune, now estimated to be around $10.7 billion, through commercial real estate development. He and his wife also inherited a now-multibillion dollar stake in Walmart from her father, part of the founding generation of a family business that grew into the retail giant.
They couple also has amassed several hundreds of thousands of acres of working ranch land over the years.
The Kroenkes began investing in sports teams in the mid-1990s, starting with the NFL’s Rams. They bought the team after it had moved from Los Angeles to their then-hometown of St. Louis. They moved the franchise back to L.A. in 2016.
Kroenke developed the recently opened SoFi Stadium in Inglewood as the Rams’ home field. The facility also hosts the Los Angeles Chargers, and is slated for various A-list sports events, including the next Super Bowl.
They and family members also own interests in various other franchises, including the Denver Nuggets and Colorado Avalanche of the NBA and NHL, respectively, along with several teams in smaller leagues and London’s Arsenal F.C.
The Golden Triangle is a particularly toney section of Beverly Hills bounded by Santa Monica Boulevard, Wilshire Boulevard and Crescent Drive. It includes the prestigious Rodeo Drive shopping district, along with other well-known shops and restaurants.
The Maybourne Beverly Hills was previously a Montage Hotel until late 2019.
[Dirt] — Dennis Lynch