Lending firm CEO, vegan cosmetics founder sell Gables Estates mansion for $28M

The CEO of a San Francisco-based lending firm and his wife, a vegan cosmetics company founder, sold their Coral Gables mansion for $27.5 million. 

Andre Hakkak and Marissa Shipman sold the two-story house at 8950 Arvida Drive in the exclusive Gables Estates neighborhood to the Rose Star Trust, led by trustee Jacob Siewert, according to records. It was an off-market deal.

Hakkak is co-founder and CEO of White Oak Global Advisors, an investment adviser that provides loans to small and middle market businesses. Shipman is the founder and CEO of Reno, Nevada-based cruelty-free cosmetics firm theBalm Cosmetics. 

The couple bought the 12,300-square-foot, six-bedroom mansion in 2020 for $13.6 million, records show. The house has nine bathrooms, two half-bathrooms, a six-car garage and pool, property records and Realtor.com show. It was completed in 2016 on a nearly 2-acre lot. 

Luxury home sales have remained unaffected by elevated interest rates, inflation and skyrocketing home insurance premiums, with deals for high-end homes continuing. Coral Gables has hosted much of the recent activity. 

Last month, Geert-Jan Bakker, heir to his parents’ Netherlands-based magnetic products maker Bakker Magnetics, dropped $23.5 million for the waterfront Gables Estates home at 365 Arvida Parkway. Bakker downsized to the six-bedroom mansion after he and his wife, Joyce Bakker, sold their seven-bedroom waterfront home at 40 Indian Creek Island Road in Indian Creek Village for $64.5 million in May.  

Also in Gables Estates, Paul Kaplan, U.S. CEO of Sweden-based global property management firm Odevo, paid $14.8 million for the six-bedroom house at 250 Leucadendra Drive.