24844 Malibu Rd. – Funding – Round 2

As we have been moving forward with the restoration process of 24844 Malibu Rd, we want to update you on the progress.

After careful discussion with our real estate team, Jason Oppenheim of the Oppenheim group (Selling Sunset), Mauricio Umansky of the Agency, we have come to the conclusion attaining a final sales price of over $50 Million (Potentially as high as $70+ Million) is now possible (Our previous target sale price was $45-50 Million).

To reach this new sales target, we have been working closely with the original architects and construction company that built the house, Marmol Radzner. Marmol Radzner will be able to restore the property to the original specifications as outlined by Tadao Ando and the original owner, Richard Sachs. However, a lot of the specifications included items that were new as of 2013 but our goal is to restore to the same specifications but with 2024 equivalent fixtures. 

To reach these new specifications and target sale, we will enter a 2nd round of funding. To keep our returns for investors as we originally promised, all current  investors will now receive a 90% share of profits from the sale as opposed to 50% of the profits as originally outlined by Belwood’s B52 investing method.