NEWPORT
BEACH, Calif., Aug. 7, 2024
/PRNewswire/ -- Belwood Investments is thrilled to announce it is
under contract to acquire the distinguished property located at
24844 Malibu Road, Malibu, CA.
Originally constructed for art collector and financier Richard Sachs, this architectural masterpiece
was designed by legendary Japanese architect Tadao Ando and completed in 2013. The property
was sold in 2021 for $57 million. Due
to unfinished renovations and subsequent damage, it was recently
listed at a reduced price of $39
million. Following aggressive negotiations with The
Oppenheim Group, Belwood Investments' CEO, Bo Belmont, secured the property for under
$22 Million.
"We are incredibly excited about the acquisition of this
property," says Belmont. "This is not just a phenomenal real estate
investment; it is an opportunity to revitalize and preserve an
architectural gem by the renowned Tadao
Ando, ensuring it remains a jewel of Malibu. This acquisition exemplifies Belwood
Investments' commitment to transforming properties with historical
and architectural significance while delivering exceptional returns
for our investors."
Belwood Investments plans to invest approximately $5 million in renovations to restore the property
to its original state. Restoration will honor the unique materials
and innovative design elements specified by Ando, many of which
were imported from around the world. The renovation process is
anticipated to take 12-16 months.
About Tadao Ando
Born in Osaka, Japan,
Tadao Ando is a self-taught
architect celebrated for his minimalist and innovative designs that
are distinguished by the use of concrete, light, and space to
create serene and contemplative environments.
Ando's work is characterized by simplicity and clarity,
emphasizing the beauty of raw concrete and natural light. He often
integrates elements of nature into his buildings, creating a
harmonious relationship between the built environment and the
natural world. Notable works include the Church of the Light in
Osaka, the Naoshima Contemporary
Art Museum in Japan, the Pulitzer
Arts Foundation in St. Louis,
Missouri and Jay-Z and Beyonce's Malibu estate. Among his numerous accolades
are the prestigious Pritzker Architecture Prize (1995) and the
American Institute of Architects Gold Medal (2002).
About the House
The property at 24844 Malibu Road is an architectural marvel
constructed with over 1,200 tons of concrete and 200 tons of
reinforced steel. It is built atop the sand, supported by 12
massive caissons driven 60 feet into the bedrock. The home spans
just over 4,000 square feet, featuring 4 bedrooms and 5 baths. It
blends modern minimalism with luxurious details, characterized by
clean lines, open spaces, and an abundance of natural light.
The property offers breathtaking ocean views and seamlessly
integrates indoor and outdoor living. High-end materials and
finishes are evident throughout, with spacious living areas, a
gourmet kitchen, and elegant bedrooms. Expansive glass walls
provide panoramic vistas of the Pacific Ocean, creating a serene
and sophisticated ambiance.
Richard Sachs, the original
owner, aptly described it: "This is not just a house; this is like
a Picasso, a cubist painting, very important and very rare."
Revolutionizing Property Investment for All
Belwood Investments is a real estate investment company that
democratizes property investment by allowing non-accredited
individual investors to participate with as little as $1,000 through the Belwood mobile app. Investor
funds are secured through a deed of trust, ensuring a transparent
and secure investment process. Upon completion of renovations and
the subsequent sale of properties, Belwood shares the profits with
its investors, consistently delivering high returns in short
periods.
Bo Belmont, who has nearly 20
years of experience in flipping homes, founded Belwood Investments
in 2018 to make real estate investment accessible to the masses.
Bo Belmont and Belwood have been
involved in more than 1,000 property transactions, generating
substantial returns for its investors. Initially based in
Folsom, CA, Belwood has expanded
its operations to Southern
California, with a recent relocation to Newport Beach, CA, at 2429 West Coast Highway,
Suite 208, Newport Beach, CA
92663.
With its expansion into the luxury real estate market, Belwood
has acquired several high-end properties in Beverly Hills and the Hollywood Hills. These
properties are nearing the end of their renovation processes and
are expected to hit the market during the summer of 2024. These
luxury acquisitions enable Belwood to attract a larger pool of
investors and deliver even greater returns.
The acquisition of 24844 Malibu Road represents a landmark
achievement for Belwood Investments, being the most costly and
prestigious property in the company's portfolio to date. The
property's rich history and the involvement of world-renowned
architect Tadao Ando ensure it will
attract substantial attention and interest.
For more information about Belwood Investments, please visit
www.belwoodinvestments.com.
Media Contact:
David Contreras
833 826 8366
381315@email4pr.com
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SOURCE Belwood Investments