Actress Lori Loughlin has bought $13M Palm Desert vacation home after she and her husband were released from prison after being convicted for their involvement in the college-admissions scandal.
While the actress was released from prison in December, her husband, Mossimo Giannulli, got out in April. She and her fashion designer husband pleaded guilty last May to paying $500,000 to get their two daughters, 23-year-old Isabella Giannulli and 22-year-old Olivia Jade, accepted into the University of Southern California as crew recruits despite not being rowers.
They were both ordered to pay substantial fines as part of their sentence, $150,000 for Laughlin and $250,000 for Giannulli. Loughlin was also ordered to complete 100 hours of community service, while Giannulli served 250 hours in addition to their jail time.
The new asset was purchased, a year after they bought a $9.5 million modern farmhouse as their main home in Los Angeles, in the tony Hidden Hills area. Their new home is about three hours away by car from their old house and is nestled just outside of Santa Rosa Mountains.
Dirt reported that the new house is located in the upscale La Quinta community, the five-bedroom, 5.5-bathroom abode is situated in the guard-gated exclusive Madison Club —and known for its Tom Fazio-designed golf course and celebrity-filled homes.
Other lavish Madison Club residences are owned by the likes of Kris Jenner, Kourtney Kardashian, Nike’s Phil Knight, Cindy Crawford and Scooter Braun.
The home which was built in 2019, first belonged to a Seattle-based couple, Michael and Alexis Rowell, who purchased it for only $9.5 million. Michael co-founded the tech startup Assurance, which sold for upward of $2.3 billion the year of the home sale.
Housing market in the area soared during the pandemic and the Rowells left with a massive $3.5 million profit.
The house which sits on nearly an acre of land, features a wine cellar, movie theater, two pools, two spas, a wet bar and an outdoor projector-theater. The residence also comes with a separate guesthouse.