Justin and Hailey Bieber have splurged on a gorgeous $26 million mansions in the mountains above Beverly Hills. Boasting 2.5 acres of land and a main residence with more than 11,000 square feet, this lavish property is part of an exclusive gated community – home to stars such as Samuel L. Jackson and Magic Johnson.

Continue on for photos and more details on the Biebers’ latest home purchase.

Built in the 1980s, this residence was at one point listed for $42 million. Justin and Hailey got the remodeled gem for a steal.

The home has 7 bedrooms, 10 full bathrooms, a home gym, a movie theater and even a library.

There’s also an infinity swimming pool, a tennis court and a huge amount of space for entertaining guests outdoors.

Justin Bieber also owns another Beverly Hills home valued at $8.5 million. The couple’s real estate portfolio is growing quite nicely these days.