Kanye West has reportedly secured a loan to buy a $35 million mansion in Beverly Hills, which he finalized last month. According to The Daily Mail, Kanye and his wife, Bianca Censori, borrowed a total of $15.5 million for the purchase.
Of that amount, $12.5 million was provided by Lone Oak Fund and its investment division, Lone Oak Industries. The remaining nearly $2.7 million came from a company owned by fitness entrepreneurs Richard and Lucy Glassman, through a private lender known for the motto, “when banks say no, private money is the only way to go.”
The Glassman family shared their reasoning for supporting West, stating, “With a loan-to-value ratio of 40 percent, it’s a solid investment. The broker’s expertise is key here; it’s not about Kanye’s creativity. They handle all the due diligence, and I’m just a small player. Investors often hesitate with celebrities, but in this case, it’s a secure investment because if they default, we end up with a $35 million property.”
They added, “We’d much prefer they repay the loan; we’re not looking to harm anyone. We’re just investors seeking a return on our money.”
The lavish 20,000-square-foot estate boasts 11 bedrooms, 18 bathrooms, a guest house, a swimming pool, a tennis court, and even a private waterfall. Reports indicate that Kanye plans to rent out the mansion rather than reside there.
