ESSEX PROPERTY TRUST, INC.

Overview

Essex Property Trust, Inc. is a residential real estate investment trust (REIT) that owns, operates, manages, acquires, develops, and redevelops apartment communities. Its portfolio is concentrated on the U.S. West Coast, particularly Southern California, Northern California, and the Seattle metropolitan area. At year-end 2025, Essex owned or held interests in 259 operating communities comprising 63,077 apartment homes.[1][2]

For fiscal 2025, the company reported approximately $1.878 billion in rental and other property revenue. Essex describes its mission as “to create quality communities in premier locations.” [2][3] [1]+2

Products & services

Essex Property Trust’s principal product is apartment rental housing, offered in studio, one-, two-, and some three-bedroom homes. Its portfolio includes garden-style, mid-rise, and high-rise communities, with building height, construction, density, and parking varying by format. The company’s 2025 year-end portfolio comprised 259 operating communities and 63,077 apartment homes.[1][4]

Community amenities listed by Essex include covered parking, fireplaces, swimming pools, clubhouses with fitness facilities, playgrounds, and dog parks; availability varies by property.[1][4] Resident-facing digital services include online account management, rent payment, community announcements and events, contact with leasing teams, and maintenance requests. Smart-home features include keyless locks and remotely controlled thermostats, while Ultrafast Internet is offered at participating communities, with stated speeds ranging from 200 Mbps to up to 1 Gbps.[5]+2

Essex also earns fees under affiliate management agreements for asset-management and property-management services. Its filings disclose performance by geography rather than by apartment type, amenity, or other housing-product category; no product-based revenue or NOI percentages were identified.[8][9] [1]+6

Geographic presence

Essex Property Trust’s operating footprint is concentrated in California and the Seattle metropolitan area. Its three operating regions are Southern California—primarily Los Angeles, Orange, San Diego and Ventura counties—Northern California, including the San Francisco Bay Area, and Seattle Metro. As of June 30, 2026, the company reported 258 operating apartment communities with 62,881 homes.[10][11]

For the six months ended June 30, 2026, reported rental and other property revenue was $390.8 million in Southern California, $406.7 million in Northern California, $158.7 million in Seattle Metro, and $13.0 million from other real estate assets—approximately 40.3%, 42.0%, 16.4% and 1.3% of the $969.2 million total, respectively.[12]+2 The company’s listed principal office is in San Mateo, California.[11] [10]+3

Business segments

Essex Property Trust reports three geographic operating segments: Southern California, Northern California, and Seattle Metro. These represent the regions where its communities are located; the company evaluates segment performance geographically, using net operating income (NOI). “Other real estate assets” is reported separately and is not a fourth geographic segment.[14][15]

For FY2025, Southern California contributed approximately 40.6% of property revenue and 40.8% of NOI; Northern California contributed 40.5% and 39.8%, respectively; and Seattle Metro contributed 16.7% and 16.9%. Other real estate assets accounted for the remaining 2.2% of property revenue and 2.5% of NOI.[2][16] [14]+4

Company history

Essex Property Corporation was founded by George M. Marcus in 1971. The company became publicly traded in 1994, marking an early milestone in its development as a public real estate company.[17][18]

In 2014, Essex joined the S&P 500, effective March 31.[19] On April 1 of that year, it completed its $16.2 billion merger with BRE Properties, substantially expanding the company’s multifamily portfolio.[20] [17]+3

Sources

• ESSEX PROPERTY TRUST, INC. — Full financial report (2025 Y)
  6 citations

  [1][2][8][14][15][16]
• www.essexapartmenthomes.com[3]
• www.sec.gov[4]
• www.essexapartmenthomes.com[5]
• www.essexapartmenthomes.com[6]
• www.essexapartmenthomes.com[7]
• ESSEX PROPERTY TRUST, INC. — Full financial report (2026 Q 2)
  4 citations

  [9][10][12][13]
• www.sec.gov[11]
• investors.essexapartmenthomes.com[17]
• media.essexapartmenthomes.com[18]
• press.spglobal.com[19]
• www.businesswire.com[20]