Drake secures $52.5M loan on Beverly Hills mansion

Drake secures $52.5M loan on Beverly Hills mansion

The buyer of singer Robbie Williams’ Beverly Hills estate, identified in reports as Canadian rapper Drake, has taken out a $52.5 million mortgage to finance one of the pricest residential sales in Southern California this year.

Drake, through an entity called 11Kip, LLC, closed the Bank of America loan last month, property records show. The signatory for the mortgage was Larry Tyler, a partner at business management firm NKSFB. NKFSB did not respond to a request for comment.

The property, located at 9904 Kip Drive, is a 20-acre estate near the Beverly Hills Hotel. The compound contains a seven-bed, 13-bath main residence with three separate staff bedrooms, according to a previous listing from Hilton & Hyland. The home bills features such as a library and two family rooms, one of which was used as a screening room. The complex also includes a gym, a game room, a wine cellar, a pool, a guest house, a tennis court and an 11-car garage.

The recent sale of the home came with a price tag of $75 million, records show. It was initially shopped off-market with an asking price of $85 million, according to a previous report from Mansion Global. The transaction ranks as the second most expensive residential sale in Los Angeles this year behind the $126 million deal for Bel Air mansion “The One,” according to a TRD analysis of listings.

Williams bought the property for $32.7 million in 2015. It was previously owned by Armand Marciano, the founder of clothing brand Guess.

Drake, whose real name is Aubrey Graham, has been actively dealing in real estate over the past few months. A few weeks ago, he reportedly sold two Hidden Hills homes to Los Angeles Rams quarterback Matthew Stafford. The houses are next door to a 12,500-square-foot home that Drake also owns. That property, known as the YOLO estate, is located at 5841 Round Meadow Road. It is still on the market for $14.8 million.

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