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Essex Announces Acquisition of 508-Unit San Jose Apartment Community


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Published in Business and Finance on Tuesday, October 23rd 2012 at 13:46 GMT by Market Wire   Print publication without navigation


October 23, 2012 16:28 ET

Essex Announces Acquisition of 508-Unit San Jose Apartment Community

PALO ALTO, CA--(Marketwire - Oct 23, 2012) -  Essex Property Trust, Inc. (NYSE: [ ESS ]), announced today the Company has purchased Willow Lake Apartments located in San Jose, California for $148 million. Built in three phases between 1989 and 1997, the property contains 508 units with a mix of one, two and three bedroom apartments. Community amenities include two swimming pools, a resident lounge, fitness center, business center and a lake. The Company intends to renovate the exterior of the community for $4.5 million. 

Willow Lake is situated less than two miles from I-680, I-880 and the 101 freeways, allowing easy access to thousands of high tech and related industry jobs in Silicon Valley. 

About Essex Property Trust, Inc.
Essex Property Trust, Inc., an S&P 400 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages apartment communities located in highly desirable, supply-constrained markets. Essex currently has ownership interests in 166 multifamily properties with an additional 9 properties in various stages of development. Additional information about Essex can be found on the Company's web site at [ www.essexpropertytrust.com ]. If you would like to receive future press releases via e-mail-please send a request to [ investors@essexpropertytrust.com ].



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