Hot Property: Phoenix Pictures head buys in Beverly Hills

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Phoenix Pictures Chairman and co-founder Mike Medavoy and his wife, Irena, have purchased a Beverly Hills home for $5.85 million, the Multiple Listing Service shows.

The contemporary Mediterranean, built in 1965, has four bedrooms and seven bathrooms in about 6,200 square feet. The one-story house has views of the city beyond the grassy backyard, which has a swimming pool and spa. There is a gated motor court and a four-car garage.

The property previously sold for $5.6 million in 2008 and had come on the market in February at $7.99 million.

More details are available at latimes.com.

-- Lauren Beale

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