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Lori Loughlin & Mossimo Giannulli Downsize To $9.5 Million Home Ahead Of College Admissions Scandal Sentencing!

Lori Loughlin and Mossimo Giannulli purchase a new Hollywood Hills home ahead of their prison sentencing.

Lori Loughlin and Mossimo Giannulli have got some new digs!

After selling their 12,000 square foot, multi-million dollar Bel-Air mansion for well below asking price last month, the embattled couple has officially closed on a new Hidden Hills, California estate for $9.5 million. While this might sound like a tiny bit of a downsize for Olivia Jade‘s parents, it can’t be as bad as the big house that’s waiting for them in just a few short weeks, right?

Related: Lori Loughlin & Olivia Jade Are Still Repairing Their Relationship After Scandal!

The pair’s new farmhouse-style pad is said to offer a “fresh take on luxury country living,” and reportedly features six bedrooms, nine bathrooms, marble countertops, and high ceilings. Additional amenities include a sprawling backyard, swimming pool, a temperature-controlled walk-in wine cellar, a gym, and a movie theater. Hey, not too bad at ALL! The 11,748-square-foot home, which is tucked inside a super-exclusive gated community, has been vacant since it was built in 2019. Now, it’ll be home to Lori, Mossimo, and their two daughters, including former University of Southern California student Isabella Rose.

As we mentioned earlier, the 55-year-old Full House star and her fashion designer hubby sold their previous residence back in July to Tinder co-founder Justin Mateen for about $18 million. They took an $11 million dollar decrease in the sale from their $29 million original asking price. At least they’re no longer living in their Orange County beach house and have someplace a bit more permanent! The timing of this purchase is also pretty clutch because last month, a federal court judge granted the pair’s request to reduce their bail bond amounts from $1 million down to $100,000 after selling their old home. Lori and Mossimo’s legal team did this by successfully proving the two are not a flight risk and will not leave the country ahead of their August 21 court hearing.

Related: Lori Is ‘Ready To Get Past This Point’ & Move On From The College Admissions Case

Now, it’s just a waiting game until Loughlin and Giannulli receive their respective prison sentences. As a reminder, both parties plead guilty for paying $500,000 in bribes to get their daughters falsely admitted to USC. Under their plea agreements, the mother of two agreed to serve two months in prison, perform 100 hours of community service and pay a $150,000 fine while her husband agreed to serve five months in prison, pay a $250,000 fine and perform 250 hours of community service.

We’ll keep you updated with any new developments until then, Perezcious readers!

[Image via Brian To/Dimitri Halkidis/WENN]

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Aug 11, 2020 09:00am PDT