In 1999, Steven Spielberg and Kate Capshaw bought a 2.8-acre Los Angeles horse ranch for $5.75 million; 27 years later, their seven-bedroom equestrian estate with a 20,000-sq-ft riding arena is seeking $29.9 million

In 1999, filmmaker Steven Spielberg and his wife, Kate Capshaw, purchased a sprawling ranch in Los Angeles through their corporate entity, Texas Tart, for $5.75 million. Now, according to a report by Realtor.com, the couple has listed the property for nearly $30 million, decades after abandoning controversial plans to transform it with an enormous five-story riding facility.At the time, the Hollywood mogul, 79 and actress, 72, unveiled ambitious plans to dramatically overhaul the estate with a 27,000-square-foot, five-story riding facility featuring a domed roof and underground horse stables. The ‘Jaws’ director also reportedly envisioned more than $7 million worth of renovations, along with plans to construct a 2,400-square-foot guesthouse and a three-story guardhouse.However, the proposed transformation sparked a fierce backlash from their neighbours, who objected to the scale of the project. Although the Oscar-winning director reportedly planned to present revised ideas to his neighbours, the elaborate project ultimately never came to fruition. However, he did get a chance to update the estate into the magnificent abode it is today.The property has remained a part of Spielberg and Capshaw’s extensive real estate portfolio for nearly three decades. Now, the couple is finally ready to part ways with the equestrian retreat, listing it for $29.9 million with Sandro Dazzan of The Agency.Known as Dogwood, the seven-bedroom, 9.5-bathroom estate sits on 2.8 acres in the ultra-private Sullivan Canyon and offers an impressive array of equestrian amenities alongside its luxurious living spaces. Spanning two parcels, the property combines a sophisticated country-inspired aesthetic with extensive facilities designed for horses, entertaining and guests. Inside the main residence, rich walnut floors and wood-covered ceilings create a warm atmosphere, while expansive windows bring in plenty of natural light.The spacious living room offers multiple seating areas anchored by dual fireplaces, creating an inviting space for relaxing and entertaining. The chef’s kitchen features extensive wood cabinetry, an oversized centre island, high-end appliances and an eat-in dining nook. “The chef’s kitchen with eat-in dining nook and wood-burning fireplace connects to a cosy family room and IPE-clad terrace overlooking a tranquil reflection pond,” the listing notes.Upstairs, the primary suite offers a peaceful retreat complete with a wood-burning fireplace and access to a private covered terrace. The outdoor space boasts yet another fireplace along with sweeping city and canyon views, according to the listing. Elsewhere inside the home is a media room that can double as a game room, as well as a wine cellar.Apart from all this, the property’s most impressive feature is its four-legged residents. Across from the main entertaining spaces sits a six-stall barn complete with an executive office, staff quarters, three grooming stations, a feed kitchen and storage. The equestrian facility is topped off by a sprawling 20,000-square-foot riding arena with an observation deck and mirrored wall, which the listing notes is suitable for both dressage and jumping.The estate’s lower parcel expands the compound even further with a stylish one-bedroom guesthouse equipped with its own kitchen, rooftop deck, and basement office and storage spaces. There is also a second four-stall barn, a 5,400-square-foot turnout area, a private gate, and enough parking for more than 10 vehicles. Both parcels are supported by a security command post and generators, further adding to the property’s private compound-like feel.Outside, the ranch is surrounded by lush landscaping, while a tranquil reflection pond adds to its secluded, countryside atmosphere, despite the estate’s location in the heart of Los Angeles.“Nestled in the ultra-private Sullivan Canyon, Dogwood is Los Angeles’ premier equestrian ranch – a rare masterpiece designed by renowned architect Michael Kovac with interiors by Michael Smith and landscape design by Christine London,” the listing states.