The Martha's Vineyard estate that President Barack Obama and his family have rented for their past three summer vacations has sold to British architect Norman Foster for $22.4 million.

The property is known as Blue Heron Farm, the majority of which came on the market in September for $23.7 million.

It has 28½ acres of land in Chilmark, Mass., and an additional 3.8 acres in Tisbury. The property includes two large homes, equestrian facilities, a tennis court, a basketball court and a par-three golf course. There's also a historic horse barn, swimming pool and extensive gardens.

Lord Foster and his wife, Elena, purchased the compound through a Massachusetts-based corporation called Blue Sky MV Ltd. for $21.9 million.

Another parcel, a 0.3-acre beachfront lot, was purchased in Lady Foster's maiden name for $475,000.

Lord Foster is the founder and chairman of Foster + Partners and has designed buildings like Wembley Stadium and the cylindrical London building known as the Gherkin.

The sellers of the properties were Mollie and William Van Devender from Mississippi who purchased the compound in 2005 for $20.4 million.

Mr. Van Devender is the head of timber companies including Southern Timber Ventures and Southeastern Timber Products, which manages timber investments and products.

Tom Wallace, of Wallace & Co Sotheby's International Realty, handled the sale, as well as past property rentals for the Obamas and others.

He is also the president of the corporation that purchased the property, according to public records.

Though he declines to comment on the identity of the buyers, he says that they had purchased it for "personal use" and likely wouldn't be interested in leasing it.

Via WSJ