Beverly Hills · Malibu


Beverly Hills · Malibu

WEA in the LA Times

In the Middle Ages, moats were the thing. More recently, the rich have taken refuge behind tall hedges, view-obscuring walls and guarded gates.

But today’s super wealthy, seeking even greater privacy, are increasingly buying adjacent properties as a buffer zone around their mansions. And that’s made the compound the hottest commodity on LA’s high-end market, real estate brokers say.
On the Westside, the growing list of compound owners include movie industry titan Terry Semel, financier and producer Tom Gores and corporate housing kingpin Howard Ruby, founder of Oakwood Worldwide.
Divorcing Dodgers owners Frank and Jamie McCourt maintain two compounds, one in Holmby Hills and another in Malibu.
“If you don’t have a neighbor anymore, you create more privacy,” said Kurt Rappaport, co-founder of Westside Estate Agency, with offices in Beverly Hills and Malibu.
Not that the “buffer” homes are vacant. Some house family, friends, guests or staff. But these aren’t mother-in-law cottages or little gu

est-houses like the one Kato Kaelin holed up in at O.J. Simpson’s old place in Brentwood. Think multimillion-dollar mansions – next door, behind or even a few doors down.
The adjoining properties may be used during major fundraisers or large-scale entertaining, Rappaport said, to create more parking or as a place to stage the catering during lavish events. Some buyers have been known to tear down well-known homes for more elbow room…

Click here to read the full article.

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