Shapell Properties: 70 Years of Evolution in California Real Estate

LOS ANGELES, CA – December 29, 2025 – As 2025 dawns, Shapell Properties is preparing to mark its 70th anniversary, a milestone that celebrates seven decades of profound influence on California's real estate landscape. What began in 1955 as a mission-driven homebuilding company has evolved into a formidable, privately held real estate investment firm specializing in commercial, retail, and multi-family properties. The company's history is a case study in strategic adaptation, resilience, and a sustained commitment to the communities it helps create.

“The company’s journey over the past 70 years has been defined by vision, integrity, and an unwavering commitment to creating spaces that foster connection, convenience, and quality of life,” said Bill West, CEO of Shapell Properties. “From the company’s first developments to the thriving multi-family and commercial properties we oversee today, our mission remains strong: to build environments that stand the test of time and enrich the communities they serve.”

A Foundation of Purpose and Principle

The story of Shapell Properties is inseparable from the remarkable life of its co-founder, Nathan Shapell. A survivor of the Auschwitz concentration camp, Shapell channeled his experiences into a powerful sense of purpose. After his liberation, his first foray into construction was building housing for displaced persons, a formative experience that would define his approach to real estate. In 1955, he, along with his brother David Shapell and brother-in-law Max Webb, established S&S Construction Company with a mission to build thoughtful, community-driven developments.

This foundational ethos propelled the company's rapid growth. By 1969, the enterprise, then known as Shapell Industries, went public, embarking on a new chapter of expansion. However, Nathan Shapell's desire for greater operational freedom led to a groundbreaking move in 1984. Shapell Industries became the first publicly held real estate company to return to private ownership through a leveraged buyout, a decision that underscored the founders' commitment to long-term vision over short-term market pressures.

Pivotal Shifts in a Dynamic Market

Shapell's history is marked by bold, strategic pivots that have enabled its longevity. For decades, the company was a dominant force in residential construction, building more than 75,000 homes and shaping the suburban fabric of California. Master-planned communities like Porter Ranch in Los Angeles, Gale Ranch in San Ramon, and East Lake in Yorba Linda stand as testaments to its influence.

A defining moment came in 2014 when Shapell Properties sold its homebuilding division, including approximately 5,200 home sites in prime coastal California markets, to Toll Brothers for $1.6 billion in cash. This landmark transaction was not an exit, but a strategic refocus. It allowed the company to concentrate its resources and expertise on its portfolio of income-generating commercial, retail, and multi-family assets.

Following the sale, the remaining entity was a real estate powerhouse. At the time, it retained a portfolio that included over 10,000 apartments, five major shopping centers, and four office buildings, valued at an estimated $1.7 billion. This strategic divestment sharpened the company’s focus, positioning it for stable, long-term growth as a specialized real estate investment and management firm.

More Than Bricks and Mortar: A Legacy of Community

Beyond its balance sheet, Shapell's impact is measured in the communities it has nurtured. The company's portfolio today includes 22 multi-family residential communities with nearly 4,700 units across California, such as The Overlook in Santa Clarita and The Vineyards Apartments in Porter Ranch. Its commercial footprint is equally significant, with thriving retail centers like The Vineyards at Porter Ranch supporting local economies. The company’s very first retail property, built in Norwalk in 1962, remains in its portfolio today, a symbol of its commitment to enduring value.

This commitment to community extends beyond development. Nathan Shapell was a dedicated public servant, serving as Chairman of California's Task Force on Affordable Housing and as a longtime commissioner on the "Little Hoover Commission," where he was a staunch advocate for government accountability. This civic-minded spirit continues today. To commemorate its 70th anniversary, the company launched the 70 Acts of Kindness initiative, encouraging employees to engage in community service. A central part of this effort is a partnership with the national nonprofit One Warm Coat, hosting coat drives to provide warmth for those in need during the holiday season.

Charting the Next Chapter

As Shapell Properties looks toward its eighth decade, it does so under the leadership of CEO Bill West, a real estate veteran who joined the company in 2011. The focus remains on strategic expansion in high-quality commercial, retail, and multi-family developments across California, while adapting to a rapidly changing world. The company's legacy of foresight, from its early master-planned communities to its pivotal corporate restructuring, provides a strong foundation for navigating the future of real estate.

This future involves embracing new technologies, evolving consumer behaviors, and an increasing emphasis on sustainability. The firm's long history of adapting to market cycles gives it a unique perspective on building resilient properties and communities designed for the long term. The transition from a mass homebuilder to a focused manager of commercial and residential investment properties demonstrates an institutional capacity for change that will be critical in the years ahead.

“The world is ever-changing, and so are we,” West added. “As we celebrate this milestone, we are not just reflecting on our past achievements - we are laying the groundwork for an even brighter future. Our legacy is one of resilience, adaptation, and, above all, a commitment to enriching the lives of those who live, work, and gather in our spaces.”