Shane Smith, co-founder and CEO of Vice Media, has built a global media conglomerate. Now, it seems the Emmy-winning journalist has focused his empire-building talents on real estate. After dropping a cool $23 million last year on a 3.35-acre compound in Santa Monica, the Canadian billionaire has purchased a nearby two-story—this time for $3.825 million.

The rustic-contemporary home has 2,615 square feet of living space, with three family bedrooms and a fourth guestroom, as well as three-and-a-half baths. The master suite comprises the house’s entire 410-square-foot second floor and includes built-in shelving, a window bench and a treetop view through the floor-to-ceiling back windows.

A pitched ceiling and more floor-to-ceiling windows opposite an enormous fireplace distinguish the living area.

Outdoors, an in-ground lap pool is surrounded by a patchwork stone terrace, with a dining armada and a fire pit nearby, and the whole 0.6-acre property is surrounded by a dense line of privacy hedges.The ranch was originally built in 1953 and updated in a contemporary style by W3 architects, pairing walnut and white brickwork with sleek, elongated metal hardware.

The ranch was originally built in 1953 and updated in a contemporary style by W3 architects, pairing walnut and white brickwork with sleek, elongated metal hardware.

Less than a mile from Villa Ruchello—the opulent home featured in Entourage and Beverly Hills Cop that Smith purchased last year—the property will be a worthy addition to the media mogul’s growing holdings.

On top of the California homes, Smith and wife Tamyka also own a pair of apartments in the same building back in New York, where Vice Media is based.

Smith’s net worth has been estimated at $1.27 billion as of 2015.