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Malibu beachside mansion at 28034 Sea Lane Drive has been sold for $29 million to an entity tied to Hankey Capital. The property, a 4,300-square-foot home with 90 feet of beach frontage, is located in a gated community just south of Paradise Cove. The sale closed on December 20th, according to Los Angeles County records.

    The seller, William McMorrow, chairman and CEO of Kennedy Wilson, had listed the property for $55 million in October 2022 after purchasing it himself for $14.5 million in 2013. An executive at Hankey Capital denied involvement in the purchase, but the buyer's entity, Pieradu LLC, is managed by Eugene Leydiker, Hankey's chief counsel.

    The home was not affected by the recent Palisades Fire, which has destroyed or damaged over 6,300 homes in the area. The sale is one of several high-priced deals that closed at the end of 2024, including a $35 million Beverly Hills home sale and a $33 million sale in the same neighborhood.

    Hankey Capital, led by billionaire Don Hankey, provides loans collateralized by real estate ranging from $5 million to $300 million. Its sister company owns over 1 million square feet of commercial properties in California.