Less than two years after he bought it from powerhouse media exec Dana Walden for $9.5 million, marijuana mogul Chris Ganan has checked out of his resort-style estate in L.A.’s Brentwood neighborhood. The nearly $10 million deal closed off-market, so it’s not clear what, if any, changes the former MedMen exec and his wife Stephanie Turner made during their short ownership tenure. Property records reveal the estate’s new owners are a non-famous but obviously very wealthy local couple.
The sale comes amid professional turmoil for both Ganan and MedMen. The once high-flying cannabis juggernaut — arguably the world’s most famous weed retailer — has been plagued by “dismal” finances led by huge losses, and has raced to raise new capital to stay afloat. As for Ganan, he and MedMen founders Adam Bierman and Andrew Modlin were sued earlier this year by a MedMen creditor in an attempt to seize their personal homes as part of an investment guaranty. (The creditor does not appear to have acquired title to Ganan’s Brentwood home before it was sold.)
Walled and camera-secured, the Spanish-style villa was built in 1999 and completely overhauled by Walden during her 17 years of ownership. Ornate wooden driveway gates hide a spacious motorcourt and a short brick walkway that leads to the custom front door. Out back, the sumptuously verdant landscaping is reminiscent of the Bel Air Hotel and includes long expanses of grassy lawn, and in-ground trampoline, and formal gardens. At the far rear of the property lies a petite guesthouse with gorgeous wood-beamed ceilings, a fireplace, small bedroom suite, and a gym. The guest cottage overlooks a spacious brick patio that surrounds a perfectly rectangular swimming pool.
Inside, the main house weighs in at nearly 6,000 square feet, with four bedrooms and five bathrooms. Gleaming hardwood floors travel into the formal living room, where guests are visually arrested by a gargantuan fireplace, to the chef’s kitchen and over to the formal dining room, which has three sets of French doors that open inwardly, allowing balmy evening breezes to filter inside — or cannabis smoke to flow out, for that matter.
The library sports a coffered and skylit ceiling, there’s a temperature-controlled wine cellar, and the upstairs master suite’s patio overlooks the backyard. The family room has its own fireplace and sets of French doors, which open to a shelter magazine-worthy covered loggia with a starburst light fixture and outdoor fireplace. Most of the half-acre lot is shaded by mature trees and towering hedges.
It’s not clear where Ganan and Turner are moving, although they both have deep roots in Los Angeles. As for Walden, she and longtime husband Matt Walden have long since upgraded to a $19 million compound in a different — and arguably more exclusive — Brentwood neighborhood pocket.