After finishing his second term in office in 1988, President Ronald Reagan retired to a Bel-Air home that recently sold, according to an article by Natalie Stone for The Hollywood Reporter.

Billionaire A. Jerrold Perenchio, a former Univision CEO who serves on the Ronald Reagan Presidential Foundation's board of trustees, purchased the home in an off-market deal for $15 million, according to the article. The home was listed on

From the article:

Spanning 7,192 square feet, the 17-room, two-story residence sits on a 1.29-acre lot just a short turn off of Beverly Glen Drive. Outdoors, a sprawling green lawn and sparkling swimming pool offer homeowners a sun-soaking location for entertaining. In an effort to provide privacy to residents within the desirable neighborhood, the shrubbery and tree-lined home is surrounded by vegetation on all sides.

The former president died in 2004 and former First Lady Nancy Reagan died earlier this year.