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maWaterways co-founders Rudi Schreiner and Kristin Karst have acquired a stunning Malibu mansion for $22.5 million. The property, located at 23450 Malibu Colony Road, was previously owned by CIG Property Holdings, an LLC managed by Mary Ann Sigler. This high-profile deal is just one of several notable transactions in Malibu this year.

    The beachfront estate, situated in the exclusive gated community of Malibu Colony, boasts approximately 5,000 square feet with four bedrooms and six bathrooms. The property features a spacious outdoor deck and direct access to the beach via steps. Schreiner, president of AmaWaterways, has a background in river cruising, having designed a raft for himself while on assignment in the Amazon River in 1975. He later co-founded AmaWaterways with Karst and Jimmy Murphy in 2002.

    The sale marks another significant transaction in Malibu this year, following deals such as Belwood Investments' $21 million purchase of Kanye West's former home and Oakley founder Jim Jannard's reported $210 million sale of his Pacific Coast Highway estate. The property was originally listed for $26.5 million last October before being sold to Schreiner and Karst through a deal brokered by Christine Martin and Samira Gores of The Agency, representing the seller, and Alex Duk and Deanna D'Egidio of Harcourts Property Management, representing the buyer.