Pamela Anderson Sells Mansion in the Exclusive Malibu Colony for $11.8 Million

Shade Degges/Tomer Fridman Group. Inset: Carmelo Redondo

Pamela Anderson's beachside mansion officially has a new resident.

The actress has sold her Malibu home for $11.8 million to Kreiss Furniture CEO and creative director Loren Kreiss, PEOPLE confirms. The listing was held by Tomer Fridman of The Fridman Group at Compass. Sandro Dazzan of The Agency represented the buyer.

Anderson listed the home, which is located in the prestigious Malibu Colony, for $14.9 million in March after purchasing the four-bedroom, four-and-a-half-bath mansion for $1.8 million in 2000.

The Baywatch star, 54, has been living with her husband Dan Hayhurst at her grandmother's former property on Vancouver Island, Canada, throughout the COVID-19 pandemic, and plans to reside there moving forward, PEOPLE previously reported.

The Luxury Level/The Tomer Fridman Group Pamela Anderson's Malibu Home

RELATED: Pamela Anderson Lists $15M Malibu Home After Surprise Wedding: 'It's Time I Went Back to My Roots'

"It's time I went back to my roots," Anderson told PEOPLE in March when she listed the Malibu property.

Shade Degges/The Tomer Fridman Group

The mansion, designed by Philip Vertoch, sits atop a 6,324-square-foot lot that is privately gated and includes a guest house, rooftop deck with a fireplace, pool and spa. The property also comes with beach access to one of the area's most exclusive strips of sand.

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The Luxury Level/The Tomer Fridman Group Pamela Anderson's Malibu Home

Anderson announced her December marriage to Hayhurst, her former bodyguard, in January.

She and Hayhurst tied the knot on the Vancouver property, which the pair have been renovating, on Christmas Eve.

The Luxury Level/The Tomer Fridman Group Pamela Anderson's Malibu Home

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"I'm creating my life here now again where it all started. It's been a wild ride, now full circle," Anderson told PEOPLE in March.

On January 26, Anderson announced her departure from social media as she was "settled" into the life she is "genuinely inspired by," which she said included "reading and being in nature."

"Lets hope you find the strength and inspiration to follow your purpose and try not to be seduced by wasted time 🙏," she wrote in her final Instagram post.