British fashion entrepreneurs Tom and
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
according to people familiar with the deal.
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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.
of Hilton & Hyland represented Mr. Washington. The Chapmans were represented by
of Douglas Elliman.