Essex Property Trust

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Essex Property Trust, Inc.
Public company
Traded asNYSEESS
S&P 500 Index component
IndustryReal estate investment trust
Founded1971; 48 years ago (1971)
FounderGeorge M. Marcus
HeadquartersSan Mateo, California
Key people
George M. Marcus, Chairman
Michael J. Schall, CEO & President
ProductsApartments
RevenueIncrease US$1.354 billion (2017)
Increase US$458 million (2017)
Total assetsIncrease US$12.495 billion (2017)
Total equityIncrease US$6.277 billion (2017)
Number of employees
1,835 (2017)
Websitewww.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, 2017, the company owned interests in 247 apartment complexes, aggregating 60,239 apartment units, and 1 office building comprising 106,564 square feet.[1]

History[edit]

The company was founded in 1971 by billionaire George M. Marcus, who also founded Marcus & Millichap that same year.[2]

On June 13, 1994, the company became a public company via an initial public offering.[1] In 2014, the company acquired BRE Properties for $4.3 billion.[3][4] The same year it was added to the S&P 500 Index.[5]

References[edit]

  1. ^ a b c d "Essex Property Trust, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ 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.
  3. ^ "Essex Property Trust, Inc. and BRE Properties Complete $16.2 Billion Merger" (Press release). Marketwired. April 1, 2014.
  4. ^ Bennett, Johanna (December 19, 2013). "Essex Property, BRE Shares Slip On Merger". Barron's.
  5. ^ "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). PRNewswire. March 26, 2014.

External links[edit]