Essex Property Trust
 | |
 Headquarters in San Mateo | |
| Company type | Public company |
|---|---|
| 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) |
| $568 million (2020) | |
| Total assets | $12.936 billion (2020) |
| Total equity |  $6.000 billion (2020) |
Number of employees | 1,799 (2020) |
| Website | www |
| 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
- ^ a b c d "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.: