Zillow.com The Marina del Rey deal ranks among the larger commercial real estate sales in Los Angeles County this year
The complex is a redevelopment of a 1960s-era garden apartment community; the current buildings were completed in 2013
By Carlos Reyes
An affiliate of San Francisco-based Jackson Square Properties has purchased Shores, a 544-unit apartment community in Marina del Rey, for $170 million.
The seller was an entity doing business as Shores LLC. Law firm Cox, Castle & Nicholson advised the seller on the transaction. The deal ranks among the larger commercial real estate sales in Los Angeles County so far this year, according to the firm.
Shores consists of 12 interconnected five-story buildings with one- and two-bedroom units. The marina-adjacent property includes a 2.5-acre courtyard with a pool, dual hot tubs, fire pits, barbecue areas and a bocce court, along with ocean views. The complex is a redevelopment of a 1960s-era garden apartment community; the current buildings were completed in 2013.
Cox Castle partner Ira Waldman said the firm has advised on the property for nearly four decades, including work on the ground lease with Los Angeles County, which owns the underlying land. The property is located at 4201 Via Marina.