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

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.