Essex, BRE Properties Combine To Create $15.4B Public REIT

Law360, New York (December 19, 2013, 11:29 AM EST) -- BRE Properties has agreed to merge with Essex Property Trust Inc., creating a combined real estate investment trust with a total market capitalization of $15.4 billion, the parties announced Thursday.

The resulting REIT will be the largest publicly traded REIT on the West Coast and the only pure-play multifamily REIT in the region. It is expected to have a pro forma equity market capitalization of about $10.4 billion.

"The combination of Essex and BRE creates a stronger platform for sustainable growth and value creation going forward,"...
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