Catherina Gores is only 24 years old, but she’s already an experienced real estate investor. Last October, the EpiPals nonprofit founder paid $6.4 million for a Cape Cod-inspired Pacific Palisades mansion, complete with a home gym and six bedrooms. But Gores has apparently grown tired of the Palisades — that particular house was recently back on the market, asking nearly $7.5 million.
Now beckoning are the sandy shores of Malibu, where records reveal Gores has upgraded to a $17 million oceanfront house within the fabled Malibu Colony — a guard-gated community known for its popularity with Hollywood types. Current residents include Sting, Tom Hanks, Rob Reiner and John McEnroe.
As the eldest of Tom Gores‘ three children, Catherina hails from one of L.A.’s richest families. Forbes says her dad — the founder of leveraged buyout giant Platinum Equity and owner of the NBA’s Detroit Pistons — is worth some $5.9 billion, while the Bloomberg Billionaires Index pegs his net worth at an even higher $7.2 billion. Bank account balance aside, the elder Gores also one of L.A.’s biggest real estate tycoons. His current $250+ million portfolio includes a $100 million mansion in the Holmby Hills neighborhood, a $38 million Beverly Park estate and a three-house oceanfront compound in Malibu worth $60 million, conservatively.
As for the younger Gores’ new Malibu Colony digs, the clapboard-sided structure was built in 1992. At nearly 5,000 square feet, the trio-level home is quite large if not exactly a mansion. It’s also got a unique celebrity history — the place was sold to Gores by prominent talent manager George Shapiro, best-known as Andy Kaufman’s manager and for his executive producer credits on “Seinfeld.” Shapiro hired Barack Obama’s White House interior designer Michael S. Smith to do up his Malibu decor in a very traditionally elegant manner.