MALIBU, Calif.--(BUSINESS WIRE)--Christina Real Estate Investors 2, LLC (“Christina 2”) announced today that it acquired two adjacent 8-unit multi-family projects located at 1242 & 1246 Wellesley Avenue in Brentwood, California (“Wellesley”). Both are located in a rapidly redeveloping area of Brentwood, just south of Wilshire Boulevard and located minutes to the San Vicente Boulevard Shopping District and the City of Santa Monica.
Lawrence N. Taylor, President of Christina Development Corporation (“Christina”), shared: “This is the first time the properties have been on the market in many decades and the combined land parcels are ripe for redevelopment with substantial upside due to the large unit sizes and below market rents.”
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 six 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.