BH3 Management, a company based in Florida, has recently purchased a 68-unit residential property located in the prestigious Point Dume neighborhood of Malibu. The acquisition cost more than $70 million and was financed through a $75-million loan from Maxim Capital.
The property, which is situated at 6487 Cavalleri Rd., has been operating as a luxury rental community since its development. However, BH3 plans to change this by offering individual units for sale starting in the first quarter of 2025. This will be the first luxury condominium to hit the Malibu market in over two decades.
According to Daniel Lebensohn, co-CEO and co-founder of BH3 Management: “Malibu is like rare earth – there are limited opportunities available due to minimal development taking place here historically.” He also added that with its laidback Southern California vibe and resort-style campus setting, this property perfectly embodies what makes Malibu such an attractive beach community. Lebensohn expressed his excitement about being part of the close-knit Malibu community through this venture.
Overall, BH3’s acquisition marks an exciting new chapter for these coveted rentals as they transition into highly sought-after for-sale units within one of America’s most desirable coastal communities.
