LOS ANGELES, CA – Malibu-based vertically integrated real estate sponsor and manager, Christina Development Corporation (“Christina”), has acquired a coveted beachfront multi-family residential apartment building located at 6615 Pacific Avenue (“Pacific”) in Playa del Rey, one of Los Angeles’ most desirable residential submarkets. This acquisition marks the sixth investment in the firm’s current private equity real estate offering, Christina Real Estate Investors 4, LLC (“Christina 4”). Pacific is a perfect representation of Christina’s proven, 40+ year investment strategy: buy great real estate in the best location at the right price.
“This transaction is a direct result of Christina’s ability to identify value and leverage its relationships to purchase premier real estate investments in one of the best real estate markets in the world,” said Lawrence N. Taylor, Founder and President of Christina. “Located in an area with high barriers to entry, the acquisition of Pacific represents an extremely rare opportunity to own an exclusive beachfront community in one of the most sought-after neighborhoods on the Westside.”
Playa del Rey is located in the heart of Silicon Beach, the tech capital of Southern California. Home to tech giants such as Google and Facebook, as well as many successful startups, Silicon Beach continues to experience explosive demand from millennials and young professionals looking to be at the center of innovation yet enjoy the idyllic beach lifestyle.
About Christina: Christina is a vertically integrated real estate sponsor and manager founded in 1977 and headquartered in Malibu, California. For more than 40 years, Christina has sponsored direct real estate investments in the Westside region of Los Angeles (Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood and Venice/Silicon Beach), executing a proprietary and proven strategy focused on tax advantaged wealth preservation and long-term capital appreciation.
This release is not an offer to sell or a solicitation to purchase securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offering by Christina 4 will be made only in accordance with the terms and conditions set forth in the Private Placement Memorandum.