In one of the area’s priciest residential transactions on record, a mansion in Polo Club has sold to a buyer that also recently purchased a property from Bill Gates.
The home at Polo Club Drive in Denver was purchased on Nov. 17 for $17.7 million, according to public records.
It’s the third-most-ever paid for a residential property in the Denver area, with the top three transactions all happening in the last year. Broncos quarterback Russell Wilson holds the top spot, having paid $25 million in April for a mansion in Cherry Hills Village. In May, an entity affiliated with a Walmart heir paid $22 million for multiple homes on nearly eight acres in the same municipality.
The property was purchased by Maroon Partners LLC, records show. The entity incorporated in Delaware lists an Aspen office address corresponding to that of Leonard Oates, a real estate attorney.
Oates didn’t respond to requests for comment regarding his client. But the property’s buyer is well-heeled, even more so than a $17.7 million price tag would suggest.
In August, Maroon Partners LLC paid $5.1 million for another Belcaro home just a mile away, at 2821 E. Cedar Ave, records show. And earlier this year, the entity paid $26 million to buy a south Florida equestrian estate from a trust linked to billionaire Bill Gates, according to The Real Deal.
The 6.5-acre property in Polo Club, an exclusive enclave within the Belcaro neighborhood, has four bedrooms and five bathrooms in the 8,500-square-foot main house. There’s also a 1,000-square-foot guest house separated by a breezeway, which has another two bedrooms and its own kitchen.
The listing also boasted of a five-car garage, two libraries and a design inspired by Frank Lloyd Wright.
The property was listed in the spring of 2021 for $21.5 million. It was later taken off the market and relisted in September at $17.9 million.
Listing agent Josh Behr of LIV Sotheby’s International Realty, who didn’t respond to a request for comment on Monday, told BusinessDen when it was listed last year that “to say it’s a generational opportunity is an understatement.”
“I think someone who wants an assemblage of land that’s like a park in the middle of the city will recognize that an opportunity like this doesn’t come around often,” Behr said at the time.
The property was sold by Diane and Marshall Wallach, records show. Diane is the granddaughter of Charles C. Gates Sr., who bought Colorado Tire & Leather Co. with his brother John in 1911 and renamed it Gates Co. The company grew from a tire maker into a diverse rubber manufacturer before being sold to London-based Tomkins PLC for $1.16 billion in 1996.
The property has been owned by the Gates family for decades, and Diane inherited the property following her father Charles C. Gates Jr.’s death in 2005, records indicate.
This story was reported by our partner BusinessDen.
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