Profile: Essex Property Trust Inc (ESS)
21 Apr 2014
Essex Property Trust, Inc. (Essex), incorporated in March 11, 1994, operates as a self-administered and self-managed real estate investment trust (REIT). The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of apartment communities. As of December 31, 2012, the Company owned or held an interest in 163 communities, aggregating 33,468 units, located along the West Coast, as well as five commercial buildings (totaling approximately 315,900 square feet), and five active development projects with 2,495 units in various stages of development (collectively, the Portfolio). The Company owns all of its interest in its real estate investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is the sole general partner of the Operating Partnership and as of December 31, 2012 owns a 94.5% general partnership interest. In April 2014, Essex Property Trust Inc and BRE Properties Inc completed the merger.
During the year ended December 31, 2012, the Company acquired 15 communities. In 2012, the Company sold two apartment communities and Essex Apartment Value Fund II sold seven communities. In 2012, seven communities were sold from Fund II. During 2012, the Company sold Tierra Del Sol/Norte, a 156 unit community located in the San Diego, California. Also during 2012, the Company sold Alpine Country, a 108 unit community located in San Diego metropolitan area.
Essex Property Trust Inc
925 EAST MEADOW DR
PALO ALTO CA 94303
Company Web Links
- BRIEF-Essex Property to replace Cliffs Natural Resources in S&P 500; Cliffs moves to S&P MidCap 400
- Fitch Affirms Essex Property Trust & BRE Properties' IDRs at 'BBB+'; Outlook Stable
- Essex seeks top spot in West Coast apartment REITs with BRE buy
- UPDATE 2-Essex seeks top spot in West Coast apartment REITs with BRE buy
- Essex to buy BRE Properties for about $4.34 bln