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| The Beverly Crest Mega Mansion Caught In A Saudi Royal Divorce |
--- A divorced Saudi royal couple are battling it out in a Delaware court over an 18-bedroom, 28 bath, Beverly Hills property in the billionaire-filled gated community of Beverly Park. Though this is really nothing new to the uber-wealthy community in Beverly Hills, it's one of the only royal battles ever fought there.
Prince Faisal Bin Abdullah Bin Abdulaziz Al Saud sued his former wife,
Fahdah Husain Abdulrahman Al-Athel, seeking to stop her from selling the
property until they decide how to split up the proceeds of the sale and the divorce. He is also asking for the $41 million he lent to renovate the mansion.
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| The mansion prior to it's renovation. |
The couple, who got married in 2001, bought the more than
27,000-square-foot structure in California in October 2011 for $16.8
million through a Delaware company. The property is on 2.3 acres, and
includes 18 bedrooms and 28 bathrooms. The neighbors of the property at
76 Beverly Park Lane include actor Mark Walhberg, Platinum Equity fund
CEO Tom Gores and former San Francisco Giants slugger Barry Bonds, along
with Denzel Washington, and actor Eddie Murphy.
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| The Beverly Crest Area of Beverly Park |
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| The Beverly Crest Area of Beverly Park |
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| The back of the property before renovation. |
The prince, active in the Saudi chapter of the humanitarian group Red
Crescent, provided the loan to the Delaware company to renovate the
Tuscan-style structure, installing state-of-the art “audio-visual
systems,’’ according to the complaint filed in Delaware Chancery Court.
Designers also spent $1.3 million on “exterior lighting, furnishings and
accessories,’’ he said. The complex is now valued at $34 million on
some real-estate web sites.
The prince accused his ex-wife of failing to properly maintain the
property and pay taxes on it. Described in the complaint as "formerly
Her Royal Highness Princess,” she’s now referred to as Ms. Alathel, as
the divorce was actually finalized April 11, 2016, but litigation over
other assets still looms in the Cayman Islands.
The former princess “was grossly negligent in failing to maintain the property’’ and her inaction has hurt the complex’s value, the prince’s lawyers said in the suit.
Delaware is the corporate home to more than half of the U.S.’s publicly
traded companies and 63 percent of Fortune 500 firms, and the chancery
court specializes in hearing high-profile business disputes. NGI
Delaware, is a limited-liability company the couple formed in the state
of Delaware, for financial reasons. In the wake of their 2016 divorce,
the couple is preparing to liquidate the Delaware company’s sole asset,
the mansion and property, according to the lawsuit. See the actual lawsuit here.
The case is His Royal Highness Prince Faisal Bin Abdullah Bin Abdulaziz Al Saud v. Fahdah Husain Abdulrahman Al-Athel, No. 2018-0364, Delaware Chancery Court (Wilmington).
Zillow lists the property like this; 76 Beverly Park Ln, Beverly Hills, CA is a single family home that
contains 29,000 sq ft and was built in 2002. It contains 18 bedrooms and
28 bathrooms. This home last sold for $16,875,168 in October 2011.
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