Entertainment
Kanye West Secures $15.5 Million Loan for $35 Million Beverly Hills Estate
American rapper and producer Kanye West has reportedly obtained a significant loan to finance his recent purchase of a luxurious Beverly Hills mansion. According to the Daily Mail, West and his wife, Bianca Censori, borrowed $15.5 million to secure the $35 million property.
The loan was facilitated by Lone Oak Fund and its investment arm Lone Oak Industries, which provided $12.5 million, and a private lending company owned by fitness entrepreneurs Richard and Lucy Glassman, which contributed $2.7 million.
The Glassmans justified their investment decision, citing the property’s 40% loan-to-value ratio as a sound financial move. “When investors lend to celebrities, they might be hesitant, but for us, it’s a solid investment,” Richard Glassman explained. “We prefer repayment over acquiring the property, but we’ll take possession if necessary.”
The opulent 20,000-square-foot compound features: 11 bedrooms, 18 bathrooms, Guest house, Swimming pool, Tennis court, and Waterfall.
Interestingly, West reportedly plans to rent out the estate rather than reside there.