British singer Adele has taken out a whopping $38 million mortgage on her new $58 million Los Angeles home, which she bought from Sylvester Stallone in February.
The mortgage on the mansion in Los Angeles’ exclusive Beverly Park neighborhood runs for 30 years and is worth $37.7 million, DailyMail.com reports. That’s huge even for the singer, who has an estimated net worth of $183 million.
Adele pays an estimated $227,000 per month – including property taxes and five percent interest. The 34-year-old may now be more interested than ever in attending the Las Vegas show, which will take place in November at the Colosseum at Caesar’s Palace, where she will reportedly earn $1 million per show.
In May, Adele confirmed that she and boyfriend Rich Paul had moved into their new home together after a year of dating. The 18,587-square-foot home was designed by Richard Landry and features eight bedrooms and 12 bathrooms.
According to the cited source, CNB, a subsidiary of the Royal Bank of Canada, offers very large loans at low interest rates for those who have a “special relationship” with the bank. The loan for her recent home purchase was provided by City National Bank, which prides itself as the “bank to the stars” because of its close ties to Hollywood.
It is the fourth home for Adele, having bought three houses next door to each other in the exclusive Beverly Hills suburb of Hidden Valley, where stars Jennifer Lawrence, Penelope Cruz and Nicole Kidman also live. Last October, Adele told Vogue that she could not afford real estate in her hometown of London: “The kind of house I have in Los Angeles, I could never afford in London. Never.”
She added that when she lived in London, she spent most of her time in a car or in a building and that she wanted to be somewhere where there was fresh air and where you could see the sky.
Ironically, the two properties in Kensington, London, were paid off in full without taking out a loan, according to the property deed.