After acquiring about 60 percent of the Lehman Brothers’ Archstone portfolio, Equity Residential is estimated to have about $36.2 billion in assets, according to a list compiled by Green Street Advisors. More
The delicate balance between occupancy and rent increases, a major theme on many REITs’ first-quarter earnings calls, came up again today on the call for Essex Property Trust. Like many of its peers, the Palo Alto, Calif.–based company is dealing with how many units to allow to go vacant so that it can, theoretically, turn those over to higher-paying renters as the leasing season picks up in the late spring and summer. More
Essex Property Trust held its earnings conference call Feb. 2 to discuss fourth-quarter 2011 financials and what to expect in 2012. While the quarter wasn’t a home run, the company did exceed most analysts' expectations. More
Essex Proerpty Trust president and CEO Michael Schall takes over the company, planning a larger focus on operations but keeping the companies founding principles and strategies relatively intact. More
Multifamily industry players and pundits weigh in on the 2011 transaction market for multifamily apartment assets. More
Mike Schall may have a new role as CEO of Palo Alto, Calif.-based Essex Property Trust, but he is certainly no stranger to the company. Schall has served under outgoing CEO Keith R.Guericke for 24 years. When the company went public in 1994, he was CFO. Five years ago, he moved over to the COO role. Now, he's in the top spot. More
After 33 years at Essex Property Trust, Keith R. Guericke, president and CEO, announced that he will step down on Jan. 1, 2011. Guericke will continue to serve as the vice chairman of the board and serve as a consultant to Palo Alto, Calif.-based Essex. Michael J. Schall, Essex’s senior executive vice president and chief operating officer, will become president and CEO. More
Some multifamily firms have been able to creatively wrestle new dollars, while cutting expenses, by uncovering latent opportunities throughout the downturn. More
Underwriting a distressed note purchase is nothing like underwriting a conventional deal. Understanding bankruptcy and foreclosure laws are paramount, but the toughest thing of all may be determing the borrower's motives. More
Investors large and small discuss the opportunites to buy a loan for pennies on the dollar, and either collect the remaining balance or foreclose and own the asset. More