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| Arnold Schwarzenegger (top) and Maria Shriver |
Los Angeles, Aug. 2 (Reuters): California governor Arnold Schwarzenegger and his wife, Maria Shriver, have sold three properties in their posh Pacific Palisades residential compound, which is valued at about $18 million, and a fourth parcel is in escrow, the Los Angeles Times reported yesterday.
The couple has not lived on the 5.3-acre property since they bought a new home in nearby Brentwood for about $11.9 million in 2002, the paper reported. The four parcels in the compound were offered as three separate homes.
Matthew Maxwell Taylor Kennedy, a son of Robert F. Kennedy and a cousin of Shriver, bought one of them: a $3.4-million home with a pool and tennis court that sits on one acre of land.
Schwarzenegger purchased that home for Shriver in 2001 as a Valentine’s Day gift.
Two other homes in the compound were sold as one estate with a sale price believed to be $7.95 million, the paper reported.
On Saturday, a year after California went through a tumultuous gubernatorial recall election, brought on by the state’s financial woes, Schwarzenegger signed a budget that is balanced for the current year but relies heavily on debt financing, like those of past administrations.