Sunset Strip-based property investors Simonand Daniel Mani closed on a deal for DavidGeffen’s Malibu Beach Inn on Feb. 26, The Hollywood Reporter has exclusively learned.
The brothers’ prime commercial real estate holdings stretch from Santa Monica to downtown L.A. But they center in West Hollywood, where their key high-rise, the restored midcentury 9200 Sunset Blvd. tower (formerly known as Luckman Plaza), features on its top floors the industry-favorite private club Soho House.
Simon Mani tells THR he’s “delighted” with their acquisition at 22878 Pacific Coast Highway along Carbon Beach — known locally as “Billionaire’s Beach” for its residents, including Geffen,Eli Broad, Haim Saban and Larry Ellison (who is working on his own lodging at the former Casa Malibu Inn address just a short stroll away).
The luxury oceanfront hotel features 47 guest rooms and a restaurant. In the summer high season, standard rates start at $675.
Mani would not disclose the sale price. There are no immediate plans for any changes to the property or the management of the hotel. Geffen could not be reached for comment.