Ellen Spends $12 Million On Brad Pitt Estate

Brad Pitt and Ellen DeGeneres

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It is official: Ellen DeGeneres is the proud owner of a new home. The former home of a very A-list actor.

Transactions were completed Friday to finalize the purchase of Brad Pitt's Malibu manse for$12 million, PEOPLE has learned.

The property overlooks the Pacific Ocean, has private beach access, consists of two separate houses, a pool, a tennis court and lush gardens.

DeGeneres's interest in the estate was first buzzed about around Thanksgiving, a month after she and wife Portia De Rossi put their Architectural Digest-featured home on the market for $49 million.

The couple will be downsizing a bit: From about 15,000-square feet of interior space to 4,000. Sounds cozy! Gail Nussbaum