Recently reported in the Malibu Surfside News on February 1, 2007 edition, page 3, Larry Ellison has made another acquisition along Carbon Beach area in Malibu, California. This time, it is the Casa Malibu Inn "reportedly sold for a little over $20 million" on January 24, 2007. The 21 room Inn will probably be updated but continue to be managed by Richard and Joan Page.
It is located very close to the two restaurant locations formerly known as Windsail and Pier View Cantina that he had also acquired in 2004 and 2003. Those two beachfront restaurants are currently progressing through the city approval process to build two new structures – former Pier View site is slated for a 7,514 square foot two story restaurant and former Windsail site is slated for 5,904 square foot single story restaurant.
Larry Ellison, the C.E.O. of Oracle, also owns other 8-9 beach front home sites along Carbon Beach, also known as Billionaire’s Beach in Malibu. Several celebrities are current home owners along Billionaire’s Beach including David Geffen, Courteney Cox, former Los Angeles Mayor-Richard Riordan and Eli Broad.
I am looking forward to the openings of these two upscale restaurants someday. It feels as though these acquisitions are real life plays of one acquiring property on the Malibu Monopoly board — own the whole block of Park Place and Boardwalk [the most prestigious block on the game board].
If you are a serious buyer and looking for a Malibu expert, then contact Judy Kunisaki at (310) 317-8396.
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