What Shapell Industries does

Shapell Industries, operating today as Shapell Properties, Inc., is a privately held California real estate development and property management company founded in 1955 by Nathan Shapell, David Shapell, and Max Webb as S&S Construction Company. The company went public in 1969, made history as the first public real estate company to go private in 1984, and sold its homebuilding business (including approximately 5,200 home sites) to Toll Brothers in 2014. It subsequently repositioned as a pure commercial and multifamily operator.

The company manages approximately 7,500 residential units and 2.3 million square feet of commercial properties across seven California counties (Alameda, Contra Costa, Los Angeles, Orange, San Bernardino, San Diego, and Ventura). Its residential portfolio spans market-rate apartments, affordable housing (3,200+ units under Section 8 and other government programs), and senior living communities (e.g., Deer Creek, a 264-unit 55+ community). Commercial assets span four sub-classes: retail (The Vineyards at Porter Ranch, Aliso Village, anchored by Whole Foods, AMC, Kaiser Permanente), office (One Fremont), medical office, and industrial (including the newly approved 750,000 SF Conejo Summit Business Park). The portfolio includes ground-up mixed-use developments, master-planned community retail hubs, and long-held legacy assets (a Norwalk retail property has been continuously operated since 1962).

Revenue is generated primarily through recurring subscription-style streams: residential and commercial lease income, with operational support from on-site property management, centralized leasing teams, and asset management. The go-to-market is direct-to-tenant through property-specific websites, on-site leasing offices, and corporate channels, supplemented by community events (e.g., the 'Music in the Square' concert series). Leadership is headed by CEO Bill West (appointed 2012, former CFO) and CFO/Secretary/Treasurer Jon Sasaki. The company remains under private/family control with no institutional investors disclosed, and is not technology-platform-native — its technology footprint consists of property websites, Google Analytics, and Dynatrace performance monitoring, with no disclosed AI/ML or proprietary platform capabilities.

Name

Shapell Industries

Legal name

Shapell Properties, Inc.

Website

https://shapell.com

Company type

Private

Founded year

1955

Operating status

Operating

Short description

Shapell Properties, Inc. (formerly Shapell Industries) is a privately held California real estate developer and property manager operating approximately 7,500 residential units (including 3,200+ affordable) and 2.3 million square feet of retail, office, medical, and industrial properties across seven counties, founded in 1955.

Ownership category

akta.pro rank

Product category

Real Estate Development and Property Management

NAICS

Lessors of Real Estate (5311), Real Estate Property Managers (53131)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

akta.pro secondary industry

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

Keywords

• Real estate development
• Property management
• Commercial leasing
• Residential apartments
• Affordable housing

Headquarters

HQ city

Beverly Hills

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Commercial Property Leasing: Revenue generated from leasing retail, office, medical, and industrial properties to commercial tenants. Properties include shopping centers anchored by national brands and local businesses, office spaces for enterprises and startups, medical facilities, and industrial business parks.
2. Residential Property Leasing: Revenue generated from leasing apartment units across market-rate and affordable housing properties in California. The portfolio includes over 7,500 residential units across multiple counties.
3. Affordable Housing Operations: Management of over 3,200 affordable apartment homes serving very low, low, and moderate income residents through Section 8 and other government programs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Shapell Properties (operating as Shapell Industries) develops, owns, and manages a diversified California real estate portfolio of over 7,500 multifamily residential apartment units and 2.3 million square feet of commercial space across retail, office, medical, and industrial asset classes. Offerings span market-rate apartments, affordable housing (including Section 8 and income-restricted programs), senior housing (55+), shopping centers, office buildings, medical office facilities, and large mixed-use and industrial developments such as The Vineyards at Porter Ranch and Conejo Summit Business Park.

Product overview

Shapell Properties operates as a real estate development and property management company with a diversified portfolio spanning residential and commercial real estate. The company manages approximately 7,500 residential property units and 2.3 million square feet of commercial properties across California. Their residential offerings include multifamily apartment communities (market-rate, affordable, and senior housing) in Northern California (Alameda, Contra Costa) and Southern California (Los Angeles, Orange, San Bernardino, San Diego, Ventura counties). Commercial operations encompass retail properties, office spaces, medical office buildings, and industrial facilities including the new Conejo Summit Business Park. Notable developments include The Vineyards at Porter Ranch, a 300,000+ SF mixed-use project combining retail, medical office, hotel, and multifamily components. The company also maintains an affordable housing portfolio with over 3,200 units.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Properties Multifamily apartment communities offering residential living across Northern and Southern California, including market-rate, affordable, and senior housing options with one, two, and three-bedroom units and various amenities.
• Commercial Properties Diverse portfolio of commercial real estate including retail spaces, office properties, medical office buildings, and industrial facilities managed across California markets.
• Retail Properties Retail spaces featuring a mix of national brands and locally owned businesses, including shopping districts and community-focused marketplaces designed to cater to diverse tastes.
• Office Properties
• Medical Office Properties Medical real estate designed to empower healthcare professionals and institutions, combining innovation with dedication to healthcare facility needs.
• Industrial Properties Industrial properties including the new Conejo Summit Business Park, designed to support various operational needs with flexibility and efficiency.
• Affordable Housing Affordable apartment homes with over 3,200 units, providing well-maintained communities with income-based housing programs including Section 8, Very Low, Low, and Moderate income levels.
• Conejo Summit Business Park A 15-building, 750,000 SF best-in-class industrial development within the Rancho Conejo business park area of Thousand Oaks, California.
• The Vineyards at Porter Ranch A 300,000+ square foot mixed-use project in northwest Los Angeles, anchored by Whole Foods Market, AMC Theatres, and Kaiser Permanente, comprising retail, medical office, hotel, and multifamily components.
• Montecito at Carlsbad A 263-unit luxury apartment community in the exclusive Robertson Ranch neighborhood of Carlsbad, CA, featuring resort-style amenities including saltwater pool, fitness center, and dog park.
• Deer Creek Senior A 264-unit senior apartment community exclusively designed for those aged 55 and above, located in the Windemere section of San Ramon with affordable resort-style living.
• Aliso Village A grocery-anchored shopping center in the Aliso Viejo/Laguna Niguel area with over 30 curated shops and restaurants.

Quantifiable outcome

• 70+ years of continuous operations and community development
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Related Companies: Large national developer of mixed-use and affordable housing projects including California assets (Related Urban was a prior employer of Shapell's Peter Houck). Comparable to Shapell in mixed-use development and affordable housing exposure, though at greater scale and broader geography.
• Brookfield Properties: Global real estate operator with a diversified commercial and multifamily portfolio including California assets. Shapell's Michael Pynn previously held roles at Brookfield Properties; comparable as a larger, more diversified incumbent in the same asset classes.

Direct peers

• Kennedy Wilson: Global real estate investment company with a significant California multifamily and office portfolio. Comparable to Shapell in California multifamily ownership and active asset management approach; Michael Pynn's prior tenure at Kennedy Wilson demonstrates direct operational overlap.
• AvalonBay Communities: Large public multifamily REIT with a meaningful West Coast footprint including Northern and Southern California. Comparable to Shapell's multifamily operations in target geography, renter demographic, and apartment community scale.
• Essex Property Trust: Public REIT focused exclusively on West Coast multifamily housing, with the bulk of its 62,000+ unit portfolio in coastal California markets. Comparable to Shapell's 7,500+ California multifamily units in geography, target tenant, and product type.
• CIM Group: Los Angeles-based real estate investment manager focused on urban commercial, multifamily, and mixed-use assets across California and other Western US markets. Shapell's Konstantin Glater was previously VP of Capital Markets at CIM Group, evidencing direct operational and investment overlap.
• Decron Properties: Privately held Los Angeles-based owner-operator of multifamily and commercial real estate in California. Shapell's former employer of VP John Love, directly comparable in scale, California concentration, and diversified residential/commercial strategy.
• Irvine Company: Privately held California real estate owner-operator with a diversified portfolio spanning multifamily apartments, retail centers, and office properties across Southern California. Closest comparable to Shapell in geographic concentration, vertical integration, and long-hold stabilized investment strategy.
• CenterCal Properties: Western US shopping center owner-operator with open-air retail and mixed-use assets across California and the Pacific Northwest. Several Shapell executives (Peter Houck, Callie Paranick, Michael Pynn) previously worked at CenterCal, evidencing operational and portfolio overlap.
• Federal Realty Investment Trust: Public REIT specializing in grocery-anchored open-air shopping centers and mixed-use developments on the West Coast and East Coast. Directly comparable to Shapell's retail portfolio including grocery-anchored properties like Aliso Village and The Vineyards at Porter Ranch.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/shapell-industries-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shapell Industries