Cox, Castle & Nicholson LLP acted as legal counsel to Shores LLC in the sale of Shores, a 544-unit multifamily residential community in Marina del Rey, to affiliates of Jackson Square Properties for $170 million. The transaction, which closed on June 30, 2026, stands as one of the largest commercial real estate deals in Los Angeles County this year.

Originally completed in 2013, Shores comprises 544 residences spread across 12 interconnected five-story buildings. The community primarily consists of one- and two-bedroom units featuring premium finishes, with many homes offering ocean and marina views. Amenities include a 2.5-acre landscaped courtyard with a swimming pool, two spas, fire pits, barbecue stations, a bocce court, and sky terraces. Shores represents the transformation of a previously underutilized garden apartment complex from the 1960s into a high-end coastal multifamily property catering to professionals in Silicon Beach and the broader Westside area.

Ira Waldman, a partner at Cox, Castle & Nicholson, has provided counsel on the Shores property for nearly four decades. His involvement dates back to the late 1980s, starting with negotiations to extend the ground lease with Los Angeles County, which owns the underlying land. Over the years, his advisory role expanded to encompass the redevelopment, financing—including securing what was at the time the largest HUD-insured loan in the United States—and ongoing leasehold matters. Waldman described the 2026 sale as the culmination of decades of coordinated planning, financing, redevelopment, and stewardship.

Waldman also highlighted the collaborative nature of the transaction, recognizing the work of Jackson Square’s legal counsel at Rutan & Tucker, the County’s attorneys at Glaser Weil, JLL acting as broker, the management team led by David O. Levine at Shores, and First American Title Insurance Company. He acknowledged the opportunity to work alongside Marina del Rey founding figure Jerry Epstein as particularly meaningful throughout the lengthy engagement with the property.

The sale reflects broader trends in the Los Angeles real estate market, underscoring continued investor interest in premium coastal multifamily communities that cater to the region’s growing professional workforce.