Foreign investor has spent $65M for destroyed Malibu properties

In the charred aftermath of Malibu’s January wildfires, one buyer has been moving in silence.

While much of La Costa Beach remains a barren stretch of sand, a foreign investor has quietly acquired nine oceanfront lots — spending more than $65 million to secure some of the most coveted parcels along the Pacific Coast Highway, according to Realtor.com.

Working through luxury agents Weston Littlefield and Alex Howe of the Weston James Group, the buyer is targeting properties with at least 40 feet of frontage, betting that once the coastline is rebuilt, demand from wealthy buyers will return in force. 8

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“He started building a team on his end of expediters, architects and kind of figured out what the best size lots and frontage would be to build on to eventually resell,” Littlefield