Hot Property
By Ruth Ryon
The Los Angeles Times - June 28, 1998

Rock star TOM PETTY has purchased an eight-bedroom home on three acres in Malibu for about $3.7 million, sources say. The asking price was just under $4 million.

The singer-songwriter appeared earlier this month in a comical bit with Clint Black and Greg Kinnear in Garry Shandling's final "Larry Sanders Show," and he played himself in the movie "The Postman" (1997).

Petty, 45, won a lifetime achievement award this year from BAM magazine. Petty founded his band, the Heartbreakers, in 1975, and they went on to become one of America's top rock acts.

Petty performed songs for the 1996 movies "She's the One," "Jerry Maguire" and "Jingle All the Way."

He bought a Mediterranean-style 10,000-square-foot home behind gates with ocean and canyon views. Built in the '40s, the house was refurbished recently. There is a four-bedroom, seven-bath main house as well as a two-bedroom guest house and separate staff apartments. The property also has a motor court--large enough to park 15 cars--and a five-car garage.