EXCLUSIVE – "OFF MARKET" OCEAN FRONT DEVELOPMENT OPPORTUNITY!

EXCLUSIVE – "OFF MARKET" OCEAN FRONT DEVELOPMENT OPPORTUNITY!

Weare pleased to present the extremely rare investment opportunity in Playa del Rey, in Los Angeles County, California. The sites, Seaglass Playa, are one of the few remaining coastal properties available for development.

Playa del Rey is a hidden gem nestled along the stunning coastline near Marina del Rey. With its pristine beaches, breathtaking ocean views, and proximity to major tech hub Silicon Beach, Playa del Rey is poised for exponential growth. The demand for residential products and innovative commercial spaces is on the rise, making it an ideal location for strategic investment.

The three sites, totaling 3.5 acres of land, are all located within walking distance from the Pacific Ocean. As properties in the California coastal area, these properties usually have to go through rigorous entitlement process which may take many years. However, the zoning for the properties is now governed by new California legislation, Assembly Bill 2011 ("AB 2011"), which would allow for a CEQA exempted, streamlined, ministerial, nondiscretionary Housing Development Projects.

The envisioned projects will create approximately +/-408 apartment units including +/- 62 affordable units (15% affordable is required to utilize the new bill); a companion bill also allows for limited parking requirements.

My client will consider several purchase scenarios:

• An outright purchase of the sites.
• A joint venture for development with a qualified operating partner.
• A lifetime opportunity structure offering a 50% ownership interest in the project for an equity investment of $180 million, corresponding to 50% of the total project equity

Seaglass Playa properties are located either on the beach or steps away from the wide, sandy beach and the Pacific Ocean. The Strand is a hike and bike path linking the South Bay with Santa Monica Bay, from Palos Verdes to Pacific Palisades. While many of the units will enjoy ocean views, some of them will have direct access to the beach from the backyards.

Coveted beachfront lifestyle allures affluent professionals

Situated within Silicon Beach, a booming high-tech high-wage engine

The development site is in the heart of Silicon Beach that is considered the second or third largest tech hub in the world and the epicenter for digital content creation. With all the neighboring tech tenants, such as Amazon, Apple, Google, HBO Max, YouTube, Yahoo and Facebook, the area’s desirability has significantly increased, putting upward pressure on home prices as well as multifamily and commercial rental rates. Local entertainment and amenities include: Cinemark, Whole Foods, Sol Cocina, Equinox Fitness, Sugarfish, CVS Pharmacy, Chase Bank and Wells Fargo. The site is also only a 10- minute drive to LAX (Airport), a 9-minute drive to Marina del Rey, a 14-minute drive to Culver City’s Sony Studios, and nearby Fox Studios.

For additional information contact meand upon execution of an NDA the full investment OM will be sent for review.