Oscar-winning actor Jamie Foxx has significantly upgraded his housing situation, paying a reported $10.5 million for a 17,000-square-foot Mediterranean-style villa on 40.22 acres in the Rancho El Conejo area of Thousand Oaks, Calif., according to public records and the Los Angeles Times.

The Times' Ruth Ryon broke the story today about Foxx's purchase of the estate, which is at 1355 W. Potrero Road in Thousand Oaks, which is northwest of Los Angeles.

Public records show that Foxx, 39, purchased the spread through his EMB Family Trust. Features in the estate's 10-bedroom mansion, which was built in 1995, include 12 baths, a library, a formal living room and dining room, family and game rooms, a full gym, a gourmet kitchen with a breakfast room, and a master suite with a sitting room, two fireplaces, an atrium, dual private baths, a sauna and a balcony, according to listing information. Other features include an Olympic-style swimming pool, a spa, a cabana studio, north/south tennis courts, playing fields and two guest houses, according to listing information.

The estate had been listed for $11.5 million. Check out listing information here.

Public records show that Foxx actually purchased the house in June 2006, although the sale wasn't recorded until January 30. We don't have an explanation yet for that lag between the sale and the recordation (usually in home purchases, there's only a 2-week to 4-week lag between the two dates). If we're eventually able to verify Foxx's actual purchase price--disclosure information is different because his new estate is in Ventura County and not Los Angeles County--we'll provide it for you here.

Also, Foxx does not yet appear to have listed his longtime residence in the nearby Tarzana area of Los Angeles, which he purchased in 1997 for $930,000, according to public records. Built in 1949, that three-bedroom, 5,428-square-foot house was transferred from Foxx's name into Foxx's EMB Family Trust in late 2004, according to public records.