Kanye West recently closed on a luxurious $35 million mansion in Beverly Hills, using a combination of unconventional funding sources.
The rapper and his wife, Bianca Censori, reportedly borrowed a total of $15.5 million to make the purchase, with significant portions coming from alternative lenders.
According to a report by the Daily Mail, $12.5 million of the loan came from Lone Oak Fund and its investment arm, Lone Oak Industries. The remaining $2.7 million was provided by a company owned by fitness entrepreneurs Richard and Lucy Glassman, through a private money lender that prides itself on offering financing when traditional banks are not an option.
The Glassmans expressed their belief that the investment was sound, citing the 40% loan-to-value ratio. The couple seemed confident in their decision, noting that if the Wests failed to repay the loan, they would ultimately gain possession of the $35 million property.
However, they made it clear that their primary desire was for the Wests to fulfill their financial obligations and ensure a solid return on their investment.
Related stories
The sprawling 20,000-square-foot estate features 11 bedrooms, 18 bathrooms, a guest house, a swimming pool, a tennis court, and a waterfall. Despite the home’s grandeur, sources suggest that Kanye West does not plan to live there. Instead, he is reportedly considering renting out the property, potentially turning it into a high-end investment opportunity.
Kanye’s real estate acquisition comes amid his ongoing efforts to expand his ambitious vision. The rapper previously announced plans to build his own city in the Middle East under the name YZY DROAM. While the specifics of the Beverly Hills mansion remain unclear, it’s possible that West’s new property could play a role in his broader, forward-thinking projects.
