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foreign investor has quietly acquired nine oceanfront lots in Malibu, spending over $65 million on properties with at least 40 feet of frontage along the Pacific Coast Highway. The buyer is working through luxury agents Weston Littlefield and Alex Howe of the Weston James Group to target parcels that will be highly sought after once the coastline is rebuilt.

    After January's devastating wildfires destroyed hundreds of beachfront homes, the investor saw an opportunity to buy up prime properties at discounted prices. Many owners were hesitant to rebuild due to the lengthy process, which can take 12-24 months and involves costly permits, strict FEMA floodplain rules, and coastal fees starting at $11,579.

    The investor is betting that once the coastline is rebuilt, demand from wealthy buyers will return in force. Littlefield believes that restoring Malibu's "charming beach town" character will make it a desirable spot for luxury residences. The plan focuses on preserving the original footprint of the homes, with only 10% expansion allowed, and meeting strict view protections along stretches like La Costa Beach.

    Despite the challenges, Littlefield is confident that the rebuilt shoreline will attract wealthy buyers once again. "Once this beach is built back and it's all brand-new construction, I think it's going to be a very desirable spot for a lot of wealthy people to try to buy a beach house," he said. The investor's strategy involves buying up lots with optimal dimensions for future resale, often persuading owners who are ready to part with inherited properties or can't face the lengthy rebuild process.