Essex Property Trust

Essex Property Trust, Inc.
	Headquarters in San Mateo
Type	Public company
Traded as	NYSE: ESS; S&P 500 component
Industry	Real estate investment trust
Founded	1971
Founder	George M. Marcus
Headquarters	San Mateo, California
Key people	George M. Marcus, Chairman; Angela L. Kleiman, CEO & President
Products	Apartments
Revenue	$1.495 billion (2020)
Net income	$568 million (2020)
Total assets	$12.936 billion (2020)
Total equity	$6.000 billion (2020)
Number of employees	1,799 (2020)
Website	www.essexapartmenthomes.com
	Footnotes / references; [1]

Essex Property Trust is a publicly traded real estate investment trust that invests in apartments, primarily on the West Coast of the United States.[1]

As of December 31, 2020, the company owned interests in 246 apartment complexes, aggregating 60,272 apartment units, and 1 office building comprising 106,716 square feet.[1]

It is the 10th largest owner of apartments in the United States[2] and the 20th largest apartment property manager in the United States.[3]

History

The company was founded in 1971 by billionaire George M. Marcus, who also founded Marcus & Millichap that same year.[4]

On June 13, 1994, the company became a public company via an initial public offering.[1]

In April 2014, the company acquired BRE Properties for $4.3 billion[5][6] and was added to the S&P 500.[7]

References

"Essex Property Trust, Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
"NMHC 50 Largest Apartment Owners". National Multifamily Housing Council.
"NMHC 50 Largest Apartment Managers". National Multifamily Housing Council.
Donato-Weinstein, Nathan (November 14, 2014). "George Marcus, Silicon Valley real estate icon, on founding companies — and the Bay Area housing crisis". American City Business Journals.
"Essex Property Trust, Inc. and BRE Properties Complete $16.2 Billion Merger" (Press release). Globe Newswire. April 1, 2014.
Bennett, Johanna (December 19, 2013). "Essex Property, BRE Shares Slip On Merger". Barron's.
"Essex Property Set to Join S&P 500; Cliff Natural Resources, FEI to Join S&P MidCap 400; Fabrinet, Albany Molecular Research to Join S&P SmallCap 600" (Press release). PR Newswire. March 26, 2014.

External links

Business data for Essex Property Trust, Inc.:

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[10K-1] "Essex Property Trust, Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.

[2] "NMHC 50 Largest Apartment Owners". National Multifamily Housing Council.

[3] "NMHC 50 Largest Apartment Managers". National Multifamily Housing Council.

[4] Donato-Weinstein, Nathan (November 14, 2014). "George Marcus, Silicon Valley real estate icon, on founding companies — and the Bay Area housing crisis". American City Business Journals.

[5] "Essex Property Trust, Inc. and BRE Properties Complete $16.2 Billion Merger" (Press release). Globe Newswire. April 1, 2014.

[6] Bennett, Johanna (December 19, 2013). "Essex Property, BRE Shares Slip On Merger". Barron's.

[7] "Essex Property Set to Join S&P 500; Cliff Natural Resources, FEI to Join S&P MidCap 400; Fabrinet, Albany Molecular Research to Join S&P SmallCap 600" (Press release). PR Newswire. March 26, 2014.