Is Tom Hanks Moving Up?

Word from Hollywood is that actor Tom Hanks and his wife Rita Wilson are selling their Santa Monica home and moving up in the real estate market to a larger estate in Pacific Palisades.

It is being reported that the power couple who have both starred in some of the most well-known movies to date are packing up their things and selling their Santa Monica home where they have been long time residents. According to a real estate insider, Hanks’ current 6,289-square-foot home includes six bedrooms and five bathrooms but they are in the market for something a little larger.  

Apparently the couple is spending more than $20 million to purchase the contemporary mansion that belongs to producers Frank Marshall and Kathleen Kennedy. The 14,513-square-foot hilltop mansion hovers high above the glamorous Riviera neighborhood and has four bedrooms and five bathrooms. The three-story home has a gated and tree-lined motor court, a half circle of green lawn, a swimming pool, and terrace.

Hanks and Wilson own multiple properties in and around Pacific Palisades including a four bedroom fixer, and two adjacent properties, in addition to a recently renovated ocean front home in Malibu which they purchased in 1991 for just under $3 million.