Donald Trump hasn’t completely given up the real estate business while he’s in the oval office.
The Trump Organization quietly sold a 5 bedroom, 6 bath Beverly Hills estate to an Indonesian business partner for $13.5 million. That’s nearly double what the President paid for the property in 2007, when he was in charge of the company. (Sons Don Jr. and Eric are overseeing the Trump Organization while their father is president.)
Hary Tanoesoedibjo, an Indonesian billionaire also known as Hary Tanoe, purchased the property via an offshore entity called Hillcrest Asia Limited. He’s a Trump associate, who developed two Trump-branded resorts in Indonesia and attended the 2017 inauguration. Like Trump, he is said to have political aspirations in his country.
The two story, 5,395 square foot home, located at 809 N. Canon Dr. was sold off-market. Built in 1927, it sits on a 0.67 acre estate, with a swimming pool out back. It has been something of a headache for the Trump Organization since his election, as it has been repeatedly fined by the city of Beverly Hills for violating a city code on hedge height. (Fines, to date, have topped $1,100.)
Tanoesoedibjo ran for vice president of the country in 2014 and has been organizing his own political party for a possible run in 2019. His possible political future has sparked concerns about potential conflicts of interest if his business relationship with Trump becomes a diplomatic one as well.
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