Billionaire investment banker Ken Moelis seems to be cobbling together a quasi-compound within a tight Malibu lineup of waterfront homes. With this $21.5 million purchase, he now owns an auxiliary residence next door, a beaut of a guest house. According to Dirt, the transaction took place off-market.

The two-level, 1986-built modern Mediterranean sits on a narrow rectangle of a lot that measures about a third of an acre. The house comes with plans for a considerable revision, and as attractive as it is in back, the suggested update is just as appealing between entry and road, packing in a little courtyard with a lap pool, a sun lounge, and a buffer of green-and-growing. The home’s interiors are spare and meditative, with natural-toned hardwood, some reclaimed wood as an accent material, and gas fireplaces.

Moelis is the founder of Moelis & Company, an investment banking firm. His net worth is around $1 billion.

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