Rupert Murdoch, an Australian American media mogul, has completed the acquisition of Moraga Estate in Los Angeles for $28.8m.
Located in the Santa Monica Mountains at an elevation of 600-900ft in the Los Angeles community of Bel Air, the 13 acre Moraga Estate has a 7,500ft² main residence, guesthouse, a swimming pool and other facilities.
According to listing agent Jim Kline of Surterre Properties, the purchase included 2,300ft² winery that produces around 1,500 cases of wines per year, staff quarters, a tasting room, wine cave and around $4m worth wine inventory, reported The Wall Street Journal.
Having purchased the winery, Murdoch plans to continue making wine at the facility.
The transaction, which began in April 2013, was delayed due to long approval process to obtain liquor licenses. The property was listed for sale in February 2013 for $29.5m.
Located in the Santa Monica Mountains at an elevation of 600-900ft in the Los Angeles community of Bel Air, the 13 acre Moraga Estate has a 7,500ft² main residence, guesthouse, a swimming pool and other facilities.
According to listing agent Jim Kline of Surterre Properties, the purchase included 2,300ft² winery that produces around 1,500 cases of wines per year, staff quarters, a tasting room, wine cave and around $4m worth wine inventory, reported The Wall Street Journal.
Having purchased the winery, Murdoch plans to continue making wine at the facility.
The transaction, which began in April 2013, was delayed due to long approval process to obtain liquor licenses. The property was listed for sale in February 2013 for $29.5m.
