Belwood Investments’ last-ditch effort to skirt foreclosure on a Malibu property came up short, according to a court ruling that put the property into the hands of the lender. It all started with an ultra-luxury fix-and-flip project gone south, after which the Newport Beach-based firm landed in hot water with lenders and attempted to hide behind a bankruptcy filing in March. Steven “Bo” Belmont of Belwood had a vision to revamp Kanye West’s former residence at 24844 Malibu Road and, in doing so, double the home’s value. Belmont bought the 4,000-square-foot home from the rapper for $21 million in 2024, […]
This article originally appeared on The Real Deal. Click here to read the full story.
Powered by WPeMatico