McKillen's son sells luxury Hollywood house to Los Angeles 'King of the Night' for $39m
Published 21/04/2013 | 05:00
DEAN McKillen, the 26-year-old son of property investor Paddy McKillen, has sold a mansion he developed to an Iranian hotel and nightclub tycoon, nicknamed Los Angeles's 'King of the Night', for $39m.
The mansion at 1423 Oriole Drive, Hollywood, was bought for around $9m in 2010 by Paddy McKillen, and then transferred to a company controlled by his son Dean in 2011. It has in recent months been sold to Sam Nazarian, owner of the SBE Entertainment Group.
McKillen Jr revamped the stunning property that was once owned by the Naked Gun villain, Ricardo Montalban, importing glass mosaics from China. The 18,000 sq ft property has an outdoor pool, marble and quartz interiors, and high ceilings with floor-to-ceiling windows boasting views of LA and the Pacific Ocean.
Nazarian, who had a cameo appearance in HBO's Entourage TV show, comes from a Persian-Jewish family who left Iran after the 1979 revolution. He owns SBE Entertainment group, which describes itself as "one of the most transcendent forces in hospitality, real estate and entertainment".
Nazarian decided to call his company SBE, after advisors suggested that its previous name, Samyboy Entertainment, lacked gravitas. He hired Phillipe Starck the famous French designer to kit out his restaurants and nightclubs. The 10,000 square foot Hyde nightclub at the Bellagio Hotel in Las Vegas is just one of his over 30 venues. It was also rumoured that Nazarian was given $1m by his father after completing his high school graduation.
McKillen Jr is also in the hospitality trade, owning the trendy Laurel Hardware restaurant/nightclub on Santa Monica Boulevard.
In 2004, Nazarian paid $12.5m for Jennifer Lopez's home on Mulholland Drive. In buying 1423 Oriole Drive, Nazarian, known for driving a bulletproof Ford Excursion, also gets a custom-made garage for his fleet of black sports cars.
Paddy McKillen has reportedly reduced the debt he owes IBRC, which he is seeking to refinance now that the bank is in liquidation.
McKillen is also embroiled in the British Court of appeal with the billionaire Barclay brothers in a fight over ownership of the Maybourne hotel group in London – which includes three of London's most exclusive hotels, Claridge's, the Berkeley and the Connaught. He recently took issue with communications between an employee of the Barclay brothers and the Secretary General at the Department of Finance.