Turns Out We Still Don't Know Who Dropped $75 Million On Howard Marks' Malibu Estate
Original post: Last week, we learned that legendary investment manager and Oaktree Capital chairman Howard Marks had sold his 9.5-acre estate in Malibu for $75 million, a record price for the beachfront city.
At the time, it was reported that an unnamed Russian billionaire couple had picked up the estate, which had been quietly shopped around for $125 million.
Now, celebrity real estate blogger The Real Estalker says that the buyer was actually James Jannard, founder of eyeglass and apparel maker Oakley Inc., citing sources familiar with the sale. Jannard sold his company in 2007 for more than $2 billion.
He now runs RED, a manufacturer of digital movie cameras.
Brokers told the WSJ it was the second most expensive residential real estate sale in Southern California, behind the $85 million sale of the Spelling Manor to Formula One heiress Petra Ecclestone last year. The property has 300 feet of beach frontage, as well as two guest houses and a gym.
Marks and his wife Nancy bought the estate in 2002 from the estate of late Herbalife founder Mark Hughes for $31 million.
If you're itching to know what the estate looks like, you can see some interior photos on the website of architecture firm Ferguson & Shamamian (via Homes of the Rich).