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Tables in the 10-Q of ESSEX PROPERTY TRUST, INC.

43 tables with numbers, filed Apr 30, 2025. Each one downloads as a CSV for Excel or Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

PART I. FINANCIAL INFORMATION	Page No.
Item 1.	Condensed Consolidated Financial Statements of Essex Property Trust, Inc. (Unaudited)
	Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024	2
	Condensed Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2025 and 2024	3
	Condensed Consolidated Statements of Equity for the three months ended March 31, 2025 and 2024	4
	Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 2024	6
	Condensed Consolidated Financial Statements of Essex Portfolio, L.P. (Unaudited)
	Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024	8

ASSETS	March 31, 2025	December 31, 2024
Real estate investments:
Rental properties:
Land and land improvements	$3,271,624		$3,246,789
Buildings and improvements	14,505,983		14,342,729
	17,777,607		17,589,518
Less: accumulated depreciation	(6,171,689)		(6,150,618)
	11,605,918		11,438,900

	Three Months Ended March 31,
	2025	2024
Revenues:
Rental and other property	$462,089		$424,215
Management and other fees from affiliates	2,494		2,713
	464,583		426,928
Expenses:
Property operating, excluding real estate taxes	86,027		79,578

	Common stock	Additional paid-in capital	Distributions in excess of accumulated earnings		Accumulated other comprehensive income, net	Noncontrolling interest	Total
Three Months Ended March 31, 2025		Shares	Amount
Balances at December 31, 2024		64,280		$6		$6,668,047		$(1,155,662)	$24,655	$183,344	$5,720,390
Net income		—		—		—		203,110	—	9,668	212,778
Change in fair value of derivatives and amortization of swap settlements		—		—		—		—	(9,051)	(321)	(9,372)
Change in fair value of marketable debt securities, net		—		—		—		—	16	1	17
Issuance of common stock under:
Stock option and restricted stock plans, net		30		—		5,509		—	—	—	5,509

	General Partner			Limited Partners		Accumulated other comprehensive income, net		Noncontrolling interest	Total
	Common Equity			Common Equity
Three Months Ended March 31, 2025	Units	Amount			Units		Amount
Balances at December 31, 2024	64,280		$5,512,391					2,331		$73,418	$29,429	$105,152	$5,720,390
Net income	—		203,110					—		7,279	—	2,389	212,778
Change in fair value of derivatives and amortization of swap settlements	—		—					—		—	(9,372)	—	(9,372)
Change in fair value of marketable debt securities	—		—					—		—	17	—	17
Issuance of common units under:

	March 31, 2025
	Amortized Cost	Gross Unrealized Gain (Loss)		Carrying Value
Equity securities:
Investment funds - debt securities	$2,676		$(22)		$2,654
Common stock, preferred stock and stock funds	49,247		17,881		67,128
Debt securities:
Available for sale
U.S. treasury securities	3,125		12		3,137

	Change in fair value and amortization of swap settlements	Unrealized gain on available for sale debt securities		Total
Balance at December 31, 2024	$24,655		$—		$24,655
Other comprehensive loss before reclassification	(9,053)		16		(9,037)
Amounts reclassified from accumulated other comprehensive income	2		—		2
Other comprehensive loss	(9,051)		16		(9,035)
Balance at March 31, 2025	$15,604		$16		$15,620

Balance at December 31, 2024	$30,849
Reclassification due to change in redemption value and other	3,527
Balance at March 31, 2025	$34,376

	March 31, 2025	December 31, 2024		March 31, 2024	December 31, 2023
Cash and cash equivalents - unrestricted	$98,735		$66,795		$499,036	$391,749
Cash and cash equivalents - restricted	9,127		9,051		8,834	8,585
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statements of cash flows	$107,862		$75,846		$507,870	$400,334

Property Name	Location	Apartment Homes	Essex Ownership Percentage	Contract Price at Pro Rata Share
The Plaza	CA	307	100%	$161.4
One Hundred Grand	CA	166	N/A	105.3	(1)
ROEN Menlo Park	CA	146	100%	78.8
Total acquisitions	619		$345.5

	Three Months Ended March 31,
	2025	2024
Cash flows from operating activities:
Net income	$212,778		$285,140
Adjustments to reconcile net income to net cash provided by operating activities:
Straight-lined rents	529		94
Depreciation and amortization	151,287		139,733
Amortization of discount and debt financing costs, net	220		2,341

	Three Months Ended March 31,
	2025	2024
Additions to deferred charges	(3,055)		(2,692)
Payments related to debt prepayment penalties	(697)		—
Net costs from issuance of common stock	—		(8)
Net proceeds from stock options exercised	6,028		962
Payments related to tax withholding for share-based compensation	(519)		—
Distributions to noncontrolling interest	(7,998)		(7,901)

	Three Months Ended March 31,
	2025	2024
Cash flows from operating activities:
Net income	$212,778		$285,140
Adjustments to reconcile net income to net cash provided by operating activities:
Straight-lined rents	529		94
Depreciation and amortization	151,287		139,733
Amortization of discount and debt financing costs, net	220		2,341

	Three Months Ended March 31,
	2025	2024
Payments related to debt prepayment penalties	(697)		—
Net costs from issuance of common units	—		(8)
Net proceeds from stock options exercised	6,028		962
Payments related to tax withholding for share-based compensation	(519)		—
Distributions to noncontrolling interest	(2,333)		(2,163)
Redemption of noncontrolling interests	(8,556)		(279)

	Weighted Average Company Ownership Percentage (1)	March 31, 2025	December 31, 2024
Ownership interest in:
Wesco I, Wesco III, Wesco IV, Wesco V and Wesco VI (2)	54%	$136,905		$147,232
BEX IV and 500 Folsom	50%	143,953		146,142
Other (3)	53%	88,470		86,089
Total operating and other co-investments, net		369,328		379,463
Total preferred equity co-investments (includes related party investments of $49.3 million and $48.1 million as of March 31, 2025 and December 31, 2024, respectively. See Note 6, Related Party Transactions, for further discussion)		453,063		476,278
Total co-investments, net		$822,391		$855,741

	March 31, 2025	December 31, 2024
Combined balance sheets: (1)
Rental properties and real estate under development	$3,938,493		$4,094,826
Other assets	230,450		277,420
Total assets	$4,168,943		$4,372,246
Debt	$2,856,849		$3,001,303
Other liabilities	240,865		235,111
Equity	1,071,229		1,135,832

	March 31, 2025	December 31, 2024
Note receivable, secured, bearing interest at 9.00%, due October 2026 (Originated October 2021)	$61,944		$60,538
Note receivable, secured, bearing interest at 12.00%, due January 2025 (Originated August 2022)	—		3,167
Note receivable, secured, bearing interest at 11.25%, due October 2027 (Originated October 2022)	40,310		39,187
Receivable from preferred equity investment sponsor (1)	—		72,002
Other receivables from affiliates	5,344		5,646
Straight line rent receivables (2)	8,689		9,235
Other receivables	17,963		17,460

	March 31, 2025	December 31, 2024		Weighted AverageMaturityIn Years as of March 31, 2025
Term loan - variable rate, net	$298,701	$298,571		2.5
Bonds public offering - fixed rate, net (1)	5,571,961	5,175,217		6.9
Unsecured debt, net (2)	5,870,662	5,473,788
Lines of credit (3)	—	137,945
Mortgage notes payable, net (4)	919,590	989,884		6.3
Total debt, net	$6,790,252	$6,601,617
Weighted average interest rate on fixed rate unsecured bonds public offering	3.6%		3.4%

2025	$643,249
2026	644,405
2027	734,397
2028	518,332
2029	501,456
Thereafter	3,780,481
Total	$6,822,320

	March 31, 2025	December 31, 2024
Assets:
Southern California	$4,124,581		$4,275,506
Northern California	5,875,927		5,501,160
Seattle Metro	1,447,563		1,460,865
Other real estate assets (1)	157,847		201,369
Net reportable operating segments - real estate assets	11,605,918		11,438,900
Real estate under development	96,268		52,682

	Three Months Ended March 31, 2025	Three Months Ended March 31, 2024
	Income	Weighted- average Common Shares		Per Common Share Amount	Income	Weighted- average Common Shares		Per Common Share Amount
Basic:
Net income available to common stockholders	$203,110		64,314,899		$3.16		$272,731			64,205,086	$4.25
Effect of Dilutive Securities:
Stock options	—		35,000			—			6,920
Diluted:
Net income available to common stockholders	$203,110		64,349,899		$3.16		$272,731			64,212,006	$4.25

	As of March 31, 2025		As of March 31, 2024
	Apartment Homes	%			Apartment Homes	%
Southern California	23,572			43%			23,262	44%
Northern California	20,607			37%			19,244	36%
Seattle Metro	10,899			20%			10,555	20%
Total	55,078			100%			53,061	100%

	Number of Apartment Homes		Three Months Ended March 31,		Dollar Change		Percentage Change
		2025		2024
Same-Property Revenues:
Southern California	20,654			$168,423			$162,228		$6,195		3.8%
Northern California	18,451			167,314			161,572		5,742		3.6%
Seattle Metro	10,341			73,410			71,784		1,626		2.3%
Total Same-Property Revenues	49,446			409,147			395,584		13,563		3.4%
Non-Same Property Revenues			52,942			28,631		24,311		84.9%

	Notional Amount	Maturity Date		Carrying and Estimated Fair Value		Estimated Carrying Value
			+50		-50
			Basis Points		Basis Points
Cash flow hedges:
Interest rate swaps	$347,500		2026		$3,419		$5,791	$1,030
Total cash flow hedges	$347,500		2026		$3,419		$5,791	$1,030

Tables in the 10-Q of ESSEX PROPERTY TRUST, INC.

Table 1 after “TABLE OF CONTENTS”

Table 2 after “(In thousands, except share amounts)”

Table 3 after “(In thousands, except share and per share amounts)”

Table 4 after “(In thousands, except per share amounts)”

Table 5 after “Table of Contents”

Table 6 after “(In thousands)”

Table 7 after “Table of Contents”

Table 8 after “(In thousands, except unit amounts)”

Table 9 after “(In thousands, except unit and per unit amounts)”

Table 10 after “(In thousands, except per unit amounts)”

Table 11 after “Table of Contents”

Table 12 after “(In thousands)”

Table 13 after “Table of Contents”

Table 14 after “As of March 31, 2025 and December 31, 2024, marketable securities consisted of the following ($ in thousands):”

Table 15 after “As of March 31, 2025 and December 31, 2024, marketable securities consisted of the following ($ in thousands):”

Table 16 after “($ in thousands):”

Table 17 after “($ in thousands):”

Table 18 after “The changes in the redemption value of redeemable noncontrolling interests for the three months ended March 31, 2025 is as follows ($ in tho”

Table 19 after “The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated bala”

Table 20 after “Acquisition of Real Estate Interests”

Table 21 after “Disposition of Real Estate Interests”

Table 22 after “The following table presents the Company’s revenues disaggregated by revenue source for the periods presented ($ in thousands):”

Table 23 after “The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment for the periods ”

Table 24 after “The following table presents the Company’s rental and other property revenues disaggregated by current property category status for the peri”

Table 25 after “The carrying values of the Company’s co-investments as of March 31, 2025 and December 31, 2024 were as follows ($ in thousands, except in pa”

Table 26 after “The combined summarized financial information of co-investments is as follows ($ in thousands):”

Table 27 after “The combined summarized financial information of co-investments is as follows ($ in thousands):”

Table 28 after “Notes and other receivables consist of the following as of March 31, 2025 and December 31, 2024 ($ in thousands):”

Table 29 after “The following table presents the activity in the allowance for credit losses for notes receivable, secured for the periods presented ($ in t”

Table 30 after “Debt consisted of the following for the periods presented ($ in thousands):”

Table 31 after “The aggregate scheduled principal payments of the Company’s outstanding debt, excluding lines of credit, as of March 31, 2025 were as follow”

Table 32 after “The revenues and NOI for each of the reportable operating segments are summarized as follows for the three months ended March 31, 2025 and 2”

Table 33 after “Total assets for each of the reportable operating segments are summarized as follows as of March 31, 2025 and December 31, 2024 ($ in thousa”

Table 34 after “Basic and diluted income per share was calculated as follows for the periods presented ($ in thousands, except per share amounts):”

Table 35 after “Basic and diluted income per unit was calculated as follows for the periods presented ($ in thousands, except per unit amounts):”

Table 36 after “The Company’s consolidated operating communities were as follows:”

Table 37 after “The regional breakdown of the Company’s Same-Property portfolio for financial occupancy for the three months ended March 31, 2025 and 2024 w”

Table 38 after “The following table provides a breakdown of property revenue amounts, including the revenues attributable to the Same-Properties ($ in thous”

Table 39 after “The table below is a reconciliation of net income available to common stockholders to FFO and Core FFO for the periods presented ($ in thous”

Table 40 after “earnings from operations to NOI and Same-Property NOI, which in the table below is the NOI for stabilized properties consolidated by the Com”

Table 41 after “The Company’s objective in using derivatives is to add stability to interest expense and to manage its exposure to interest rate movements o”

Table 42 after “The Company’s interest rate risk is monitored using a variety of techniques. The table below presents the principal amounts and weighted ave”

Table 43 after “Item 6: Exhibits”

	Year Ended December 31,
	2025	2026		2027	2028	2029		Thereafter	Total	Fair value
Fixed rate debt	$642,477	548,291		350,000	517,000	500,000		3,648,000	$6,205,768	$5,883,235
Average interest rate	3.5%		3.5%		3.8%		2.2%		4.1%		3.8%	3.6%
Variable rate debt (1)	$772	96,114		384,397	1,332	1,456		132,481	$616,552	$611,887
Average interest rate	3.5%		4.1%		4.0%		3.5%		3.5%		3.5%	3.9%

A. Exhibits
4.1	Base Indenture, dated March 14, 2024, by and among Essex Portfolio, L.P., Essex Property Trust, Inc., and U.S. Bank Trust Company, National Association, as trustee, attached as Exhibit 4.1 to the Company’s Current Report on Form 8-K filed March 14, 2024, and incorporated herein by reference.
4.2	Second Supplemental Indenture, dated February 18, 2025, by and among Essex Portfolio, L.P., Essex Property Trust, Inc., and U.S. Bank Trust Company, National Association, as trustee, including the form of 5.500% Senior Notes due 2034 and the guarantee thereof, attached as Exhibit 4.2 to the Company’s Current Report on Form 8-K filed February 18, 2025, and incorporated herein by reference.
31.1*	Essex Property Trust, Inc. — Certification of Angela L. Kleiman, Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*	Essex Property Trust, Inc. — Certification of Barbara Pak, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.3*	Essex Portfolio, L.P. — Certification of Angela L. Kleiman, Principal Executive Officer of General Partner, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.4*	Essex Portfolio, L.P. — Certification of Barbara Pak, Principal Financial Officer of General Partner, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*	Essex Property Trust, Inc. — Certification of Angela L. Kleiman, Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**