Essex Property Trust (NYSE:ESS) (NYSE: ESS) is a publicly traded real estate investment trust specializing in the acquisition, development and management of multifamily residential properties. Headquartered in Palo Alto, California, the company’s core operations focus on constructing and operating high-quality apartment communities designed to meet the needs of urban and suburban renters. Essex’s business model encompasses site selection, community design, in-house construction oversight, leasing, and ongoing property management to optimize occupancy levels and tenant satisfaction.
The company maintains a geographically concentrated portfolio along the West Coast of the United States, with a particular emphasis on prime urban markets in California and Washington. Essex’s holdings include communities in San Francisco, Silicon Valley, Los Angeles, San Diego, Orange County and Seattle. Each property offers a blend of studio, one-, two- and three-bedroom floor plans, complemented by amenities such as fitness centers, swimming pools, coworking spaces and sustainable building features aimed at enhancing resident comfort and well-being.
Founded in 1971 by Jeffrey Jacob as a privately held partnership, Essex Property Trust transitioned to a real estate investment trust structure in 1994 and commenced trading on the New York Stock Exchange. Over the decades, the company has grown through strategic land acquisitions, vertical construction projects and selective portfolio acquisitions. Its disciplined approach to capital allocation and deep local market expertise have helped Essex navigate cyclical real estate trends and maintain a high-quality property base.
Under the leadership of President and Chief Executive Officer Michael J. Schall, who joined the company in 1998 and was appointed CEO in 2013, Essex has reinforced its commitment to operational excellence, sustainable development and community engagement. Executive management emphasizes rigorous financial stewardship, innovative development practices and tenant-centric service models. With a focus on long-term value creation, Essex continues to pursue growth opportunities in key coastal markets while maintaining a strong balance sheet and conservative leverage profile.
