Michael Rapino, CEO of Live Nation Entertainment, has purchased two neighboring properties in the Mandeville Canyon area of Brentwood for a reported $14.75 million, according to the Wall Street Journal.
The combined properties are on almost two acres of land and include two houses. The main house is about 11,000 square feet and boasts five bedrooms and nine bathrooms. It includes a two-story foyer, formal dining and living rooms, a wood-paneled library and a bar, gym, screening room, game room and wine cellar. The smaller house is less than 2,400 square feet and has three bedrooms and three bathrooms.
The properties also have a pool and an outdoor fireplace and outdoor kitchen.
The area is a favorite of the entertainment community: Current or former residents include Sony Pictures co-chairman Amy Pascal, Michael Bay, CAA president Richard Lovett, James L. Brooks and producer David Hoberman.
Rapino purchased the properties from financier John Rocchio, a co-founder of Newstone Capital Partners, who paid $8.75 million for the larger lot and $2.47 million for the smaller lot in 2006, according to public records found by WSJ.
Mark Smith of Coldwell Banker represented Rapino in the transaction.