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Donald Sterling has added a new home to his residential rentals real estate empire.
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Donald Sterling has apparently already begun to spend some of the money that he will get when he sells the Los Angeles Clippers. The disgraced American owner of the NBA team has reportedly paid $5.16 million for a new Beverly Hills home.
The Spanish style house has six bedrooms, five bathroom, a maid’s quarters and 5, 310 total square feet. The two floor home has hardwood and tiled floors, glass windows and mixed ceilings. The house comes with a large backyard.
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The home has been on the market for some time. It was acquired by the Sterling Family Trust earlier this month with Donald Sterling as trustee.
This is reportedly the 165th property that Mr. Sterling owns.
Mr. Sterling made his fortune in real estate before he bought the Clippers more than thirty years ago, so we can assume that he knew what he was doing when he made this investment.
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Sterling and his wife have just separated. But when they were together they invested in 12 different single family homes in Beverly Hills since 2013 for a total of $58.2 million. The investments were intended to be rentals.
Donald Sterling has been embroiled in controversy for months now, ever since a tape recording of his making racist rants against African Americans was released. Fist he was banned for life by the NBA and then the league announced plans to force Sterling to sell his team.
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After declaring, at first, his intention to fight the forced sale, Sterling relented and agreed to divest himself in the team. But he owns it through a trust in which his estranged wife and children share an interest and they are reportedly planning to fight in court to keep their respective shares of the Los Angeles Clippers.
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