24844 Malibu Rd. Updates

We are pleased to announce that over the weekend Belwood accepted an offer on 24844 Malibu Road, one of the few private homes in the United States designed by renowned Japanese architect Tadao Ando.

This offer comes less than a week after the property was listed for sale. Nearly 500 people invested in this iconic Malibu property through Belwood Investments, and its sale marks a major milestone in our efforts to make luxury real estate investments accessible to everyone, In accepting this strong offer, we’re bringing our investors a payday 14 months earlier than expected.

Belwood Investments raised over $6.4 million from investors, who contributed amounts ranging from $1,000 to $1 million, to buy the home for $21 million in September and begin restoring it to its former glory. With some key milestones achieved such as securing Marmol Radnzer, the original builder, receiving stamped and approved plans and permits and electrical work completed, our leadership saw this as an opportunity to exit the property and secure a quick return for our investors with a projected 20% ROI.

Selling now means the buyer can put their own creative finishes on this architectural gem, while we return funds to our investors in less than six months, allowing them to invest in more properties. Our top priority is delivering strong returns to investors as quickly as possible, and this is a win for all

The sale will close on May 1, 2025. Please stay tuned over the next few days and weeks as our Investor Relations team will be in contact on additional details that must be completed by investors on this property.

Special Offer 1 - $5K Bonus*

For all new offers over $50K, you will receive a $5K bonus towards a future Belwood Investment Trust Deed.*

Special Offer 2 - $10K Bonus*

For all new offers over $100K, you will receive a $10K bonus towards a future Belwood Investment Trust Deed

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The Phase 1 permitting process is rolling along with the City of Malibu and our hope is to still have permits in mid to late November. We plan to mobilize on site for construction by then to get going on layout.

The bidding process is rolling right along and we are planning to place our order for doors and windows by the end of next week. We then plan to have decided on all of our subcontractors by the end of the following week.

A meeting was convened to discuss the current status of open permits. The restoration permit has been on hold since we received comments from the Malibu Building and Safety and Environmental Health departments in April and May. We anticipate a response to these comments will take up to three weeks, commencing on October 7. Following submission, the City of Malibu typically requires 2 to 4 weeks to issue a "Ready to Issue" (RTI) status or provide additional plan check comments.

To enhance the permitting process, we have engaged a new firm, with the Phase I permit expected to be secured between mid to late November. Additionally, we have contracted another firm to expedite the process with the City of Malibu, leveraging their familiarity with the project. Coordination efforts for the Phase II plan check documents are also underway.

Bidding and subcontractor coordination are progressing as scheduled, with a comprehensive bid and timeline expected by the end of October. This timeline will facilitate the commencement of construction as soon as the necessary permits are obtained. In the meantime, the construction team is preparing a standalone pricing package for long lead-time items, such as doors and windows, to ensure that shop drawings and procurement can proceed without delays.