While Taylor Swift is best known for her shrewd business dealings and hit songs, the 28-year-old pop star has also made a name for herself in the real estate market. The singer has amassed a property portfolio worth a reported $150 million, using trusts and LLCs to buy homes across the country.
Her biggest purchase was a 4,000-square-foot penthouse in Nashville’s swanky The Adelicia building in 2009, which she bought through a trust for $1.99 million. The loft overlooks the city’s Music Row and has a private garage, heated pool and gym. Then in 2015, Swift reportedly scooped up a $25 million Beverly Hills mansion that once belonged to movie mogul Samuel Goldwyn. Designed by architect Douglas Honnold, the Georgian Revival estate Swift Selling of California Land is a celebrity hot spot, with original hardwood floors and triple sets of French doors that lead to a wood-burning fireplace. The palatial property has been granted landmark status, which will allow it to be preserved and restored, reports Trulia.
In addition to her many residential properties, Swift has a slew of commercial real estate holdings in California, including a 200,000-square-foot office tower and a 325,000-square-foot mall, both located in Los Angeles. Last year, her firm, Swift Real Estate Partners, added a 21,800-square-foot creative office in Irvine and Sixth at Yamill, a 109,725-square-foot office building in Portland to her portfolio.
However, it appears that the company is getting ready to sell a lot of its West Coast assets. Over the past 12 months, Swift Real Estate Partners has sold two of its office buildings in Los Angeles, and it recently snatched up a subdivided condominium interest in the 219,700-square-foot office asset at 1390 Market Street for $9.75 million.
The company’s sale of assets is being fueled by a looming debt default on its commercial mortgages in the wake of the global financial crisis. Nearly $2 billion in loans are due this year and another $2 billion next, according to research firm Trepp. That could trigger a wave of foreclosures, especially in California, where property values have plunged over the years.
Despite the financial turmoil, Swift continues to expand her empire. In March, the musician donated a staggering 40,000 pounds of fresh produce to the Arizona Food Bank Network. The donation allowed the network to send several tractor-trailers filled with food to member food banks across the state. This helped bolster programs that help families get access to free and reduced-price school meals and food stamps, said the nonprofit’s spokesperson. Earlier this month, Swift also gave a $1 million check to the American Red Cross for hurricane relief efforts.