MALIBU, Calif.--(BUSINESS WIRE)--Christina Real Estate Investors 2, LLC (“Christina 2”) announced today that it acquired a multi-family project located at 1942 Pelham Avenue in Century City, California (“Pelham”).
Pelham is a large land parcel improved with a multi-story building, swimming pool and on-site parking. Pelham is walking distance to the newly expanded and renovated Westfield Century City Shopping Plaza and located minutes to Interstate 405 and Interstate 10.
Lawrence N. Taylor, President of Christina Development Corporation (“Christina”), shared, “This is the first time the property has traded in many decades. The location is excellent and there is tremendous upside potential, including future redevelopment.”
Christina is a real estate investment company founded in 1977 and headquartered in Malibu, California. Since inception, Christina has specialized in acquiring, developing, redeveloping, financing, syndicating and operating investment grade multi-family residential and commercial income-producing properties in the ultra-prime sub-markets of West Los Angeles, California including Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood, and Venice/Silicon Beach.
On November 21, 2013, Christina launched its first private equity company (“Christina 1”). Christina 1 owns six properties and is closed for investment. On September 1, 2016, Christina launched Christina 2. Christina 2 owns four properties and is currently open for investment.
This release is not an offer to sell or a solicitation of an offer to purchase securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offering by Christina 2 will be made only in accordance with the terms and conditions set forth in Christina 2’s Private Placement Memorandum.