The California Community Foundation has announced advocate and philanthropist MacKenzie Scott has made a major contribution to the organization—in the form of real estate.
The two single-family residences located in Beverly Hills jointly valued at approximately $55 million.
This discretionary gift will allocate 90 percent of sale proceeds to the Foundation’s affordable housing grantmaking. The remaining funds will be allocated by CCF to support its immigrant integration program to advance opportunities for the millions of immigrants from throughout the world who call Los Angeles County home.
According to CCF, the cost of housing stands out as one of the most critical issues affecting the lives of millions of Los Angeles residents and is a priority Scott is focused on. The revenue generated by the properties sale will permanently support the expansion of CCF’s grantmaking efforts in this area.
Per Dirt, Scott and her ex, Amazon head Jeff Bezos, bought the two parcels in 2007 and 2017 for a total of $37 million. The Spanish hacienda-style mansion spans nearly 12,000 square feet of living space, while the guesthouse offers another 4,500 square feet.
The 2.5-acre spread boasts 13 bedrooms and 14 bathrooms in all.