Catherina Gores drops $17M on Malibu Colony beach house

The newest resident of chic Malibu Colony is Catherina Gores, daughter of billionaire investors and Detroit Pistons owner Tom Gores.

The younger Gores just shelled out $17 million for an oceanfront home in the exclusive neighborhood, according to Dirt. She also recently put her Pacific Palisades home on the market with a $7.5 million price tag.

The seller was George Shapiro, an executive producer on “Seinfeld” and the late Andy Kaufman’s former manager. Shapiro hired designer Michael S. Smith — best known for decorating Barack Obama’s White House — to handle the interiors of the home.

23450 Malibu Colony Rd (Redfin)

Gores’ new home was built in 1992 and totals about 5,000 square feet. It has four bedrooms and seven bathrooms. The exteriors are clapboard and fairly plain for the neighborhood, which has plenty of architectural homes.

There is a large kitchen and an attached living room leading out to the patio.

Both upper floors have balconies overlooking the Pacific Ocean. A brick patio just outside on the ground floor leads to a wooden deck with lounge space and stairs leading directly to the beach.

The front of the roughly 7,000-square-foot lot has a small driveway and a two-car garage.

Gores and her sister Amanda Gores founded a nonprofit group called EpiPals in 2011 to raise money and distribute EpiPens for those who can’t afford them.

The Gores family has long been based in Los Angeles. Tom Gores’ private equity firm Platinum Equity is based in Beverly Hills.

In 2019, Platinum bought a development site in the Arts District from Continuum Partners for $28.9 million.

But Gores has made more headlines for his own residential investments. He made the priciest acquisition of 2016 when he bought a Gala Asher-built spec home in Holmby Hills for $100 million.

The following year he bought back a home that he traded to Asher as part that deal.

[Dirt] — Dennis Lynch