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New Deal


Announced

Completed

Essex Property Trust completed the acquisition of the remaining 49% stake in the BEXAEW real estate portfolio for $505m.

Financials

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Transaction Value£400m
Consideration TypeCash
Capital Owned51%
Capital Bid For49%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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real estate assets

Acquisition

Domestic

Private

Friendly

United States

apartment complex

Real Estate

Completed

Single Bidder

Real Estate Holding and Development

Majority

Synopsis

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Essex Property Trust, a fully integrated real estate investment trust, completed the acquisition of the remaining 49% stake in the BEXAEW real estate portfolio, comprised of four properties totaling 1.5k apartment homes, for $505m. Concurrent with closing, the company repaid $220m of debt encumbering the properties and consolidated the communities on the company’s financials.

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