Dean McKillen, the son of property investor Paddy McKillen who owes the state-owned IBRC hundreds of millions, will bag over $30m (€23.2m) by selling a mansion in the Hollywood Hills.
It's understood that 1423 Oriole Drive was bought for around $9m in 2010. Dean McKillen, a 26-year-old, has invested in the property since it was acquired. The high-spec refurbished mansion is now on the market for a price tag of $45m (€31m).
Known as Casa Montalban, it was built in 1985 for Ricardo Montalban, known for his role as the villain Khan in Star Trek and for his part in the first of the Naked Gun films where he attempts to assassinate Queen Elizabeth II.
It is understood that there has been huge interest in the mansion.
Lionel Ritchie was once a next-door neighbour and the house boasts Pacific Ocean and LA city views. The house was bought from the estate of the late actor towards the end of 2010. The original Mexican architects, Legorreta + Legorreta, describe the pad as "a silent series of masses and walls that grow from the earth and engage the blue sky".
It reportedly has five bathrooms, five bedrooms, a guest suite, a den, a large living room and dining room. Outdoor features include a swimming pool and a motor court.
McKillen has already sold a house in Beverly Hills worth $20m as part of his climb on the US property ladder.
McKillen's other venture, Laurel Hardware, a restaurant/bar, was opened in July on Santa Monica Boulevard. What was once an old DIY shop has now been refitted with vintage decor.
It's a haunt for young Hollywood actors and celebrity bloggers. The bar features cocktails like 'Gangster' and 'Exuberance' and pints of Guinness for $8.
An internet job posting belonging to Dean McKillen's company, PDT Real Estate Development, suggests there will be more Casa Montalbans and Laurel Hardwares down the line. PDT is seeking a chief financial officer to forecast "the future strategy and growth of the company" with compensation worth $90,000 to $100,000.
Sunday Indo Business