Fashion Entrepreneurs Spend $24 Million On Los Angeles Compound

Home/Fashion Entrepreneurs Spend $24 Million On Los Angeles Compound

Fashion Entrepreneurs Spend $24 Million On Los Angeles Compound

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Tom and Ruth Chapman, founders of Matchesfashion.com, purchased this home in Los Angeles’s Trousdale Estates area.

Tom and Ruth Chapman, founders of Matchesfashion.com, purchased this home in Los Angeles’s Trousdale Estates area.


Photo:

Pictometry

British fashion entrepreneurs Tom and

Ruth Chapman

have purchased a home in Los Angeles’s Trousdale Estates area for $24 million, according to two people familiar with the deal.

In September, the Chapmans sold a majority stake in their fashion e-commerce business Matchesfashion.com to private-equity funds managed by Apax Partners, according to Apax in a statement.​The Chapmans couldn’t immediately be reached for comment. The seller was

Kevin Washington,

son of industrialist Montana billionaire

Dennis Washington,

according to people familiar with the deal.

The property, a modern compound with sweeping views of downtown Los Angeles, has five bedrooms and seven bathrooms, according to the listing. It totals 6,229 square feet with large open living and entertaining spaces and a pool. It recently underwent a four-year renovation, according to the listing. It was listed in June for $27.5 million.

Mr. Washington purchased the home for $9.985 million in 2012, property records show. A spokesperson for Mr. Washington declined to comment.

Mr. Washington’s father started his career in 1964 with a $30,000 loan. Today, the privately held Washington Cos. comprises various companies, which run mines and railroads, build ships and design wings for jets. Kevin Washington is active in the management of the business, according to the company’s website.

Branden and

Rayni Williams

of Hilton & Hyland represented Mr. Washington. The Chapmans were represented by

Dena Luciano

of Douglas Elliman.

By | 2017-12-12T18:46:37+00:00 December 12th, 2017|Comments Off on Fashion Entrepreneurs Spend $24 Million On Los Angeles Compound