By CHRISTIAN MONTERROSA | Reporter
Malibu developer Jaman Properties is being sued by Matthew and Kathy Barrett for alleged breach of contract, fraudulent concealment and negligence of a Pacific Palisades home, according to court documents.
The Barretts claim that Jaman Properties concealed severe construction defects throughout the $22 million home and later agreed to fix over 140 defects at the close of escrow for their home on San Onofre Drive. When the repairs were not made by the deadline given, they took the matter to court.
Matthew is known for co-founding Glendon Capital, a Santa Monica-based investment management company.
An attorney for Jaman Properties called the lawsuit “completely without merit,” according to an article in The Real Deal. “Jaman Properties has addressed and continues to be ready to address any and all legitimate issues the buyers may have with the property.”
The 10,000-square-foot house boasts six bedrooms, a 2,000-bottle wine cellar and a “powder room lined with 25,000 hand-applied peacock feathers.”
The lot the home is built on was reportedly once owned by the Reagan family—a wet bar from Reagan’s old home was incorporated into the new project.
Some of the defects were described as a non-compliant rain tank, a defective retaining wall and a damaged foundation that Jaman Properties lied about fixing.
The case was accepted by the court on Sept. 4 and will be heard by Judge Elizabeth Allen White.