Florida-based BH3 Management has acquired a 68-unit residential property in Malibu’s coastal enclave of Point Dume. The purchase price was more than $70 million; it was financed through a $75-million loan from Maxim Capital.
Located at 6487 Cavalleri Rd., the property has been operated as a luxury rental community since it was developed. BH3 plans to offer individual units for sale beginning in the first quarter of 2025, marking the first luxury condominium to hit the Malibu market in more than 20 years.
“Malibu is rare earth, with limited development having taken place in the past and a scarcity of opportunities available today,” said BH3 Management co-CEO and co-founder Daniel Lebensohn. “It consistently ranks as one of the most desirable beach communities in the country Marrying Southern California’s laidback vibe with a quiet resort-style campus, this property is quintessentially Malibu. We are humbled by the opportunity to be part of the Malibu community.”
