MARINA DEL REY, CALIF. — Affiliates of Jackson Square Properties have acquired Shores, an apartment property in the coastal city of Marina del Rey, from a company doing business as Shores LLC. The sales price was $170 million. Cox, Castle & Nicholson LLP served as counsel to the seller in the transaction, which is one of the largest commercial real estate transactions in Los Angeles County this year, according to the team that worked on the deal.
Completed in 2013, Shores features 544 residences across 12 interconnected five-story buildings. The marina-adjacent property offers mostly one- and two-bedroom apartments as well as a resort-style amenity package centered around a 2.5-acre park-like courtyard with a pool, dual spas, fire pits, barbecue areas, bocce court and sky terraces.
The transaction team included Rutan & Tucker as counsel to the buyer; Glaser Weil as counsel to the County of Los Angeles; JLL as sale broker; and First American Title Insurance Co.