Jim Buss may not be making any major changes to the Los Angeles Lakers roster anytime soon, but the executive vice president of player personnel is going all-in on upgrading his real estate portfolio.
Showing off some of that “Showtime” panache, Buss has made a total of five multimillion-dollar purchases in Los Angeles and Orange County over the past few months while also listing a luxury home over the same time period. The Los Angeles Times details the spending spree, which included a $4.05 million penthouse purchase at The Ritz Carlton Residences at L.A. Live and a quartet of buys in Dana Point totaling $13.53 million.
Prior to his spending spree, Buss whet his appetite in September, when he listed a Santa Fe-inspired property in the Monarch Bay area of Dana Point. Listed for $4.795 million, the ocean-view home has four bedrooms, six bathrooms, two fireplaces, a front-yard pool and an infinity spa overlooking the ocean.
From there, the Lakers exec shifted into buying mode, scooping up four adjoining properties at the Strand at Headlands, an exclusive development site overlooking the sandy beaches of Dana Point, all on the same day. Records show Buss bought a half-acre lot for $2.25 million, a quarter-acre lot for $2.5 million, a 4,560-square-foot French country estate for $4 million and a 6,000-square-foot Mediterranean-style home for a $4.78 million.
As if that weren’t enough, Buss capped off his spending spree with the purchase of the penthouse at the Ritz-Carlton, which overlooks Staples Center, where the Lakers play their home games. Clad in Laker purple, the three-bedroom, three-and-a-half-bath unit sports 4,299 square feet of living space, a gourmet kitchen, and custom finishes. Plus, Buss gets to enjoy all of those fancy perks afforded to guest of the Ritz-Carlton, including access to an exclusive wine tasting room, screening room and the Champions’ Sky Lounge.
The son of late billionaire Lakers owner Jerry Buss, Jim Buss joined his father in the Lakers organization in 1998 as an assistant general manager before being promoted to his current title in 2005. Following his passing in 2013, Jerry Buss’ estate in Playa del Rey listed in December for $5.95 million.http://www.realtor.com/news/lakers-jim-buss-buys-staples-penthouse-lists-in-dana-point/