Essex Property Trust
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]
| Type | Public company |
|---|---|
| NYSE: ESS S&P 500 Index component | |
| Industry | Real estate investment trust |
| Founded | 1971 |
| Founder | George M. Marcus |
| Headquarters | San Mateo, California |
Key people | George M. Marcus, Chairman Michael J. Schall, CEO & President |
| Products | Apartments |
| Revenue |  $1.460 billion (2019) |
| $464 million (2019) | |
| Total assets | $12.705 billion (2019) |
| Total equity |  $6.220 billion (2019) |
Number of employees | 1,822 (2019) |
| Website | www |
| Footnotes / references [1] | |
As of December 31, 2019, the company owned interests in 250 apartment complexes, aggregating 60,570 apartment units, and 1 office building comprising 106,716 square feet.[1]
History
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
- "Essex Property Trust, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- 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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