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Posted by on Jul 23, 2012 in Interesting Houses | 2 comments | Print Print

$150,000,000

Thanks to daytrip who sent this in from the real estalker:

…from Lenny Lemmetellya, an unimpeachable source deep inside the Platinum Triangle real estate game, the lavish and downright legendary Los Angeles (CA) estate known as Owlwood is quietly being shopped around with an astronomical (but not surprising) asking price of $150,000,000.

The sprawling Holmby Hills spread (above), set between Sunset Boulevard and the famously clannish Los Angeles Country Club, has over the years been owned by a long list of high profile people. Owlwood‘s current owner, however, is a relatively low profile lady named Dawn Arnall, the billionaire widow of sub-prime mortgage mega-mogul Roland Arnall, who went to meet The Great Loan Processor in the Sky in 2008.

Long before he acted as George W. Bush’s a U.S. ambassador to the Netherlands (2006-2008), Roland Arnall founded Ameriquest, the company that pretty much invented stated income home loans, otherwise known as “no-doc” or “liar’s loans” in which little (or even no) verification of income or financial resources was required to secure a mortgage. Although his fortune has been greatly reduced by the recent mortgage meltdown and near collapse of the American economy, at one point Mister Arnall’s estimated net worth ran up to around three billion bucks. Perhaps due to declining health and/or wisely prescient of the economic collapse just around the corner, Mister Arnall got out of the sub-prime mortgage business in 2007 when he sold most or all of his interest in Ameriquest to Citigroup for an undisclosed amount of money.

An old video tour, back when it was listed for $39.9M:

2 Comments

  1. It should probably be said that his estate is smaller, since he no longer owns it.

  2. Again I’m reminded that my life pretty much sucks.

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