← Filings of ESS
Tables in the 10-K of ESSEX PROPERTY TRUST, INC.
85 tables with numbers, filed Feb 20, 2026. 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 "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| Part I. | | Page |
| Item 1. | Business | 2 |
| Item 1A. | Risk Factors | 9 |
| Item 1B. | Unresolved Staff Comments | 23 |
| Item 1C. | Cybersecurity | 23 |
| Item 2. | Properties | 25 |
| Item 3. | Legal Proceedings | 32 |
| Item 4. | Mine Safety Disclosures | 32 |
First 8 of 28 rows. The CSV has all of them.
Table 2 after “The table below summarizes acquisition activity for the year ended December 31, 2025 ($ in millions):”
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| Property Name | Location | Date | Apartment Homes | Essex Ownership Percentage | | Contract Price at Pro Rata Share | | |
| The Plaza | CA | Jan-25 | 307 | | 100% | | $161.4 | |
| One Hundred Grand | CA | Feb-25 | 166 | | N/A | | 105.3 | (1) |
| ROEN Menlo Park | CA | Feb-25 | 146 | | 100% | | 78.8 | |
| Revere Campbell | CA | May-25 | 168 | | N/A | | 118.0 | (1) |
| The Parc at Pruneyard | CA | May-25 | 252 | | 100% | | 122.5 | |
| ViO | CA | Sep-25 | 234 | | 100% | | 100.0 | |
| 1250 Lakeside | CA | Nov-25 | 250 | | 100% | | 143.5 | |
First 8 of 9 rows. The CSV has all of them.
Table 3 after “The table below summarizes disposition activity for the year ended December 31, 2025 ($ in millions):”
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| Property Name | Location | Date | Apartment Homes | Sale Price at Pro Rata Share | | |
| Highridge | CA | Feb-25 | 255 | $127.0 | | (1) |
| Essex Skyline | CA | Apr-25 | 350 | 239.6 | | |
| The Grand | CA | Jul-25 | 243 | 97.5 | | |
| 8th & Republican | WA | Sep-25 | 211 | 47.4 | (2) | |
| Fourth & U | CA | Sep-25 | 171 | 52.3 | | |
| Total dispositions | | | 1,230 | | $563.8 | |
Table 4 after “The table below describes the Company’s operating portfolio as of December 31, 2025 (See Note 8, “Mortgage Notes Payable” to the Company’s c”
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| | | Apartment | Year | | Year | | | |
| Communities (1) | Location | Type | Homes | Built | | Acquired (2) | | Occupancy(3) | |
| Southern California | | | | | | | | | |
| Alpine Village | Alpine, CA | Garden | 301 | | 1971 | | 2002 | | 96% |
| Park Viridian | Anaheim, CA | Mid-rise | 326 | | 2008 | | 2014 | | 95% |
| The Barkley (4)(5) | Anaheim, CA | Garden | 161 | | 1984 | | 2000 | | 96% |
| Bonita Cedars | Bonita, CA | Garden | 120 | | 1983 | | 2002 | | 96% |
| The Village at Toluca Lake | Burbank, CA | Mid-rise | 146 | | 1974 | | 2017 | | 97% |
First 8 of 44 rows. The CSV has all of them.
| Marbella | Los Angeles, CA | Mid-rise | 60 | 1991 | 2005 | 97% |
| Pacific Electric Lofts (7) | Los Angeles, CA | High-rise | 314 | 2006 | 2012 | 94% |
| Park Catalina | Los Angeles, CA | Mid-rise | 90 | 2002 | 2012 | 96% |
| Park Place | Los Angeles, CA | Mid-rise | 60 | 1988 | 1997 | 97% |
| Regency Palm Court | Los Angeles, CA | Mid-rise | 116 | 1987 | 2014 | 94% |
| Santee Court | Los Angeles, CA | High-rise | 165 | 2004 | 2010 | 93% |
| Santee Village | Los Angeles, CA | High-rise | 73 | 2011 | 2011 | 93% |
| Skye at Bunker Hill | Los Angeles, CA | High-rise | 456 | 1968 | 1998 | 96% |
First 8 of 48 rows. The CSV has all of them.
| Parkside Court | Santa Ana, CA | Mid-rise | 210 | 1986 | 2014 | 96% |
| Pinnacle at MacArthur Place | Santa Ana, CA | Mid-rise | 253 | 2002 | 2014 | 97% |
| Hope Ranch | Santa Barbara, CA | Garden | 108 | 1965 | 2007 | 95% |
| Bridgeport Coast (11) | Santa Clarita, CA | Mid-rise | 188 | 2006 | 2014 | 96% |
| Meadowood | Simi Valley, CA | Garden | 320 | 1986 | 1996 | 95% |
| Shadow Point | Spring Valley, CA | Garden | 172 | 1983 | 2002 | 95% |
| The Fairways at Westridge (11) | Valencia, CA | Mid-rise | 234 | 2004 | 2014 | 96% |
| The Vistas of West Hills (11) | Valencia, CA | Mid-rise | 220 | 2009 | 2014 | 97% |
First 8 of 49 rows. The CSV has all of them.
| Bridgeport | Newark, CA | Garden | 184 | 1987 | 1987 | 96% |
| Artizan | Oakland, CA | Mid-rise | 241 | 2022 | 2025 | 94% |
| The Landing at Jack London Square | Oakland, CA | Mid-rise | 282 | 2001 | 2014 | 96% |
| The Galloway | Pleasanton, CA | Mid-rise | 506 | 2016 | 2016 | 96% |
| Radius | Redwood City, CA | Mid-rise | 264 | 2015 | 2015 | 97% |
| Township | Redwood City, CA | Mid-rise | 132 | 2014 | 2019 | 96% |
| San Marcos | Richmond, CA | Mid-rise | 432 | 2003 | 2003 | 96% |
| 500 Folsom (13) | San Francisco, CA | High-rise | 537 | 2021 | 2021 | 97% |
First 8 of 49 rows. The CSV has all of them.
| Brookside Oaks (5) | Sunnyvale, CA | Garden | 170 | 1973 | 2000 | 96% |
| Lawrence Station | Sunnyvale, CA | Mid-rise | 336 | 2012 | 2014 | 96% |
| Magnolia Lane (18) | Sunnyvale, CA | Garden | 32 | 2001 | 2007 | 97% |
| Magnolia Square (5) | Sunnyvale, CA | Garden | 156 | 1963 | 2007 | 97% |
| Maxwell Sunnyvale | Sunnyvale, CA | Mid-rise | 75 | 2022 | 2024 | 95% |
| Montclaire | Sunnyvale, CA | Mid-rise | 390 | 1973 | 1988 | 97% |
| Reed Square | Sunnyvale, CA | Garden | 100 | 1970 | 2011 | 97% |
| Solstice | Sunnyvale, CA | Mid-rise | 280 | 2014 | 2014 | 97% |
First 8 of 49 rows. The CSV has all of them.
| The Elliot at Mukilteo (5) | Mukilteo, WA | Garden | 301 | 1981 | 1997 | 97% |
| Castle Creek | Newcastle, WA | Garden | 216 | 1998 | 1998 | 97% |
| Elevation | Redmond, WA | Garden | 158 | 1986 | 2010 | 97% |
| Pure Redmond | Redmond, WA | Mid-rise | 105 | 2016 | 2019 | 97% |
| Redmond Hill (7) | Redmond, WA | Garden | 442 | 1985 | 2011 | 96% |
| Shadowbrook | Redmond, WA | Garden | 418 | 1986 | 2014 | 96% |
| The Trails of Redmond | Redmond, WA | Garden | 423 | 1985 | 2014 | 96% |
| Vesta (7) | Redmond, WA | Garden | 440 | 1998 | 2011 | 96% |
First 8 of 29 rows. The CSV has all of them.
Table 10 after “Cash dividends on Essex’s common stock for the years ended December 31, 2025, 2024 and 2023 were classified for federal income tax purposes ”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Common Stock | | | | | |
| Ordinary income | 96.74% | | 98.19% | | 88.46% |
| Capital gain | 1.43% | | 1.81% | | 8.32% |
| Unrecaptured section 1250 capital gain | 1.83% | | —% | | 3.22% |
| 100.00% | | 100.00% | | 100.00% |
| Index | 12/31/2020 | 12/31/2021 | | 12/31/2022 | 12/31/2023 | 12/31/2024 | | 12/31/2025 | | |
| Essex Property Trust, Inc. | $100.00 | | $152.40 | | $94.85 | | $115.70 | | $136.94 | $130.12 |
| FTSE NAREIT Equity Apartments Index | $100.00 | | $163.61 | | $111.34 | | $117.87 | | $142.02 | $129.86 |
| S&P 500 Index | $100.00 | | $128.71 | | $105.40 | | $133.10 | | $166.40 | $196.16 |
Table 12 after “The Company’s consolidated operating communities as of December 31, 2025 and 2024 were as follows:”
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| December 31, 2025 | | December 31, 2024 | | | | | |
| Apartment Homes | % | | | Apartment Homes | % | | |
| Southern California | 23,598 | | | 42% | | | 23,817 | 44% |
| Northern California | 21,097 | | | 38% | | | 19,747 | 36% |
| Seattle Metro | 10,899 | | | 20% | | | 10,899 | 20% |
| Total | 55,594 | | | 100% | | | 54,463 | 100% |
Table 13 after “The regional breakdown of the Company’s 2025 Same-Property portfolio for financial occupancy for the years ended December 31, 2025 and 2024 ”
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| Year Ended December 31, | | |
| 2025 | 2024 | |
| Southern California | 95.9% | | 95.8% |
| Northern California | 96.5% | | 96.3% |
| Seattle Metro | 96.2% | | 96.7% |
| Number of Apartment Homes | | Year Ended December 31, | | Dollar Change | | Percentage Change | | | | |
| | 2025 | | 2024 | | | | | | | |
| 2025 Same-Properties: | | | | | | | | | | | |
| Southern California | 20,654 | | | $679,826 | | | $658,315 | | $21,511 | | 3.3% |
| Northern California | 18,037 | | | 664,800 | | | 641,795 | | 23,005 | | 3.6% |
| Seattle Metro | 10,341 | | | 298,363 | | | 290,294 | | 8,069 | | 2.8% |
| Total 2025 Same-Property | 49,032 | | | 1,642,989 | | | 1,590,404 | | 52,585 | | 3.3% |
| 2025 Non-Same Property | | | 234,975 | | | 173,781 | | 61,194 | | 35.2% | |
First 8 of 9 rows. The CSV has all of them.
Table 15 after “The following table sets forth the Company’s cash flows for the periods presented ($ in thousands):”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Cash flow provided by (used in): | | | | | |
| Operating activities | $1,074,423 | | $1,068,305 | | $980,064 |
| Investing activities | $(552,483) | | $(973,051) | | $(145,140) |
| Financing activities | $(512,200) | | $(419,742) | | $(477,271) |
Table 16 after “The following table summarizes the Company’s unfunded real estate and other future commitments as of December 31, 2025 ($ in thousands):”
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| Number of Properties | Investment | | Remaining Unfunded Commitment | | |
| Joint ventures: | | | | | | |
| Preferred equity investments | 1 | | $85,000 | | | $35,000 |
| Technology co-investments | N/A | 86,000 | | | 23,215 | |
| Consolidated: | | | | | | |
| Real estate under development | 1 | | 157,122 | | | 200,883 |
| | $328,122 | | | $259,098 | |
Table 17 after “The table below is a reconciliation of net income available to common stockholders to FFO and Core FFO for the periods presented ($ in thous”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Net income available to common stockholders | $669,666 | | $741,522 | | $405,825 |
| Adjustments: | | | | | |
| Depreciation and amortization | 607,542 | | 580,220 | | 548,438 |
| Gains not included in FFO | (305,043) | | (386,138) | | (59,238) |
| Casualty loss | — | | — | | 433 |
| Impairment loss from unconsolidated co-investments | 12,634 | | 3,726 | | 33,700 |
First 8 of 28 rows. The CSV has all of them.
Table 18 after “Net operating income (“NOI”) and Same-Property NOI are considered by management to be important supplemental performance measures to earning”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Earnings from operations | $899,316 | | $703,095 | | $584,342 |
| Adjustments: | | | | | |
| Corporate-level property management expenses | 49,052 | | 46,208 | | 43,593 |
| Depreciation and amortization | 607,542 | | 580,220 | | 548,438 |
| Management and other fees from affiliates | (9,381) | | (10,265) | | (11,131) |
| General and administrative | 71,948 | | 98,902 | | 63,474 |
First 8 of 14 rows. The CSV has all of them.
Table 19 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”
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| Notional Amount | Maturity Date | | Carrying and Estimated Fair Value | | Estimated Carrying Value | | |
| | | +50 | | -50 | | | |
| | | Basis Points | | Basis Points | | | |
| Cash flow hedges: | | | | | | | | |
| Interest rate swaps | $497,500 | | 2026-2030 | | $1,270 | | $5,293 | $(2,820) |
| Forward starting interest rate swap | 150,000 | | 2030 | | 703 | | 3,521 | (2,169) |
| Total cash flow hedges | $647,500 | | 2026-2030 | | $1,973 | | $8,814 | $(4,989) |
Table 20 after “The Company’s interest rate risk is monitored using a variety of techniques. The table below presents the principal amounts and weighted ave”
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| Year Ended December 31, | | | | | | | | | | |
| 2026 | 2027 | | 2028 | 2029 | 2030 | | Thereafter | Total | Fair value | |
| Fixed rate debt | $548,291 | $350,000 | | $517,000 | $500,000 | $615,000 | | $3,448,000 | $5,978,291 | $5,767,386 | |
| Average interest rate | 3.5% | | 3.8% | | 2.2% | | 4.1% | | 3.4% | | 4.0% |
| Variable rate debt (1) | $1,114 | $84,397 | | $1,332 | $1,456 | $301,592 | | $468,889 | $858,780 | | $853,192 |
| Average interest rate | 3.7% | | 3.5% | | 3.7% | | 3.7% | | 4.0% | | 4.0% |
| (1) Consolidated Financial Statements of Essex Property Trust, Inc. | Page |
| Reports of Independent Registered Public Accounting Firm (PCAOB ID: 185) | F-1 |
| Consolidated Balance Sheets: As of December 31, 2025 and 2024 | F-6 |
| Consolidated Statements of Income: Years ended December 31, 2025, 2024 and 2023 | F-7 |
| Consolidated Statements of Comprehensive Income: Years ended December 31, 2025, 2024 and 2023 | F-8 |
| Consolidated Statements of Equity: Years ended December 31, 2025, 2024 and 2023 | F-9 |
| Consolidated Statements of Cash Flows: Years ended December 31, 2025, 2024 and 2023 | F-11 |
| Notes to Consolidated Financial Statements | F-20 |
First 8 of 18 rows. The CSV has all of them.
Table 22 after “(In thousands, except parenthetical and share amounts)”
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| 2025 | 2024 | |
| ASSETS | | | |
| Real estate investments: | | | |
| Rental properties: | | | |
| Land and land improvements | $3,363,169 | | $3,246,789 |
| Buildings and improvements | 15,073,416 | | 14,342,729 |
| 18,436,585 | | 17,589,518 |
| Less: accumulated depreciation | (6,532,003) | | (6,150,618) |
First 8 of 41 rows. The CSV has all of them.
Table 23 after “(In thousands, except share and per share amounts)”
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| 2025 | 2024 | | 2023 | |
| Revenues: | | | | | |
| Rental and other property | $1,877,964 | | $1,764,185 | | $1,658,264 |
| Management and other fees from affiliates | 9,381 | | 10,265 | | 11,131 |
| 1,887,345 | | 1,774,450 | | 1,669,395 |
| Expenses: | | | | | |
| Property operating, excluding real estate taxes | 353,355 | | 328,123 | | 301,951 |
| Real estate taxes | 205,631 | | 193,413 | | 185,807 |
First 8 of 33 rows. The CSV has all of them.
| 2025 | 2024 | | 2023 | |
| Net income | $702,773 | | $811,306 | | $430,708 |
| Other comprehensive (loss) income: | | | | | |
| Change in fair value of derivatives and amortization of swap settlements | (19,508) | | (9,217) | | (13,364) |
| Change in fair value of marketable debt securities, net | 244 | | — | | — |
| Reversal of unrealized gains upon the sale of marketable debt securities | (27) | | — | | — |
| Total other comprehensive loss | (19,291) | | (9,217) | | (13,364) |
| Comprehensive income | 683,482 | | 802,089 | | 417,344 |
First 8 of 10 rows. The CSV has all of them.
Table 25 after “(In thousands, except per share amounts)”
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| Common stock | Additional paid-in capital | Distributions in excess of accumulated earnings | | Accumulated other comprehensive income (loss), net | | Noncontrolling interest | Total | | | | | | | |
| | Shares | Amount | | | | | | | | | | | | |
| Balances at December 31, 2022 | | 64,605 | $6 | | | $6,750,076 | | $(1,080,176) | | $46,466 | | $178,744 | | $5,895,116 | |
| Net income | | — | | — | | | — | | 405,825 | | — | | 24,883 | | 430,708 |
| Change in fair value of derivatives and amortization of swap settlements | | — | | — | | | — | | — | | (12,910) | | (454) | | (13,364) |
| Issuance of common stock under: | | | | | | | | | | | | | | | |
| Stock option and restricted stock plans, net | | 21 | | — | | | (3,825) | | — | | — | | — | | (3,825) |
| Sale of common stock, net | | — | | — | | | (347) | | — | | — | | — | | (347) |
First 8 of 27 rows. The CSV has all of them.
| Net income | — | — | — | 669,666 | — | 33,107 | 702,773 |
| Reversal of unrealized gains upon the sale of marketable debt securities | — | — | — | — | (26) | (1) | (27) |
| Change in fair value of derivatives and amortization of swap settlements | — | — | — | — | (18,818) | (690) | (19,508) |
| Change in fair value of marketable debt securities, net | — | — | — | — | 236 | 8 | 244 |
| Issuance of common stock under: | | | | | | | |
| Stock option and restricted stock plans, net | 81 | — | 816 | — | — | — | 816 |
| Sale of common stock, net | — | — | (391) | — | — | — | (391) |
| Equity based compensation costs | — | — | 9,879 | — | — | 345 | 10,224 |
First 8 of 13 rows. The CSV has all of them.
| 2025 | 2024 | | 2023 | |
| Cash flows from operating activities: | | | | | |
| Net income | $702,773 | | $811,306 | | $430,708 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | |
| Straight-lined rents | (1,115) | | 34 | | 2,773 |
| Depreciation and amortization | 607,542 | | 580,220 | | 548,438 |
| Amortization of discount and debt financing costs, net | 7,162 | | 7,795 | | 6,911 |
| Realized and unrealized gains on marketable securities, net | (3,809) | | (8,347) | | (10,006) |
First 8 of 41 rows. The CSV has all of them.
| Payments on unsecured debt and mortgage notes | (808,611) | (403,108) | (302,429) |
| Proceeds from lines of credit and commercial paper | 7,935,548 | 1,667,476 | 844,046 |
| Repayments of lines of credit and commercial paper | (8,073,493) | (1,529,531) | (896,119) |
| Retirement of common stock | — | — | (95,657) |
| Additions to deferred charges | (13,394) | (9,568) | (1,736) |
| Payments related to debt prepayment penalties | (697) | — | — |
| Net costs from issuance of common stock | (391) | (296) | (347) |
| Net proceeds from stock options exercised | 8,930 | 12,313 | — |
First 8 of 29 rows. The CSV has all of them.
Table 29 after “(In thousands, except parenthetical and unit amounts)”
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| 2025 | 2024 | |
| ASSETS | | | |
| Real estate investments: | | | |
| Rental properties: | | | |
| Land and land improvements | $3,363,169 | | $3,246,789 |
| Buildings and improvements | 15,073,416 | | 14,342,729 |
| 18,436,585 | | 17,589,518 |
| Less: accumulated depreciation | (6,532,003) | | (6,150,618) |
First 8 of 43 rows. The CSV has all of them.
Table 30 after “(In thousands, except unit and per unit amounts)”
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| 2025 | 2024 | | 2023 | |
| Revenues: | | | | | |
| Rental and other property | $1,877,964 | | $1,764,185 | | $1,658,264 |
| Management and other fees from affiliates | 9,381 | | 10,265 | | 11,131 |
| 1,887,345 | | 1,774,450 | | 1,669,395 |
| Expenses: | | | | | |
| Property operating, excluding real estate taxes | 353,355 | | 328,123 | | 301,951 |
| Real estate taxes | 205,631 | | 193,413 | | 185,807 |
First 8 of 33 rows. The CSV has all of them.
| 2025 | 2024 | | 2023 | |
| Net income | $702,773 | | $811,306 | | $430,708 |
| Other comprehensive (loss) income: | | | | | |
| Change in fair value of derivatives and amortization of swap settlements | (19,508) | | (9,217) | | (13,364) |
| Change in fair value of marketable debt securities, net | 244 | | — | | — |
| Reversal of unrealized gains upon the sale of marketable debt securities | (27) | | — | | — |
| Total other comprehensive loss | (19,291) | | (9,217) | | (13,364) |
| Comprehensive income | 683,482 | | 802,089 | | 417,344 |
First 8 of 10 rows. The CSV has all of them.
Table 32 after “(In thousands, except per unit amounts)”
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| | | | Accumulated other comprehensive income (loss), net | | | | | | | | |
| General Partner | | | Limited Partners | | Noncontrolling interest | | Total | | | | |
| Common Equity | | | Common Equity | | | | | | | | |
| Units | Amount | | | Units | | Amount | | | | | |
| Balances at December 31, 2022 | 64,605 | | $5,669,906 | | | | 2,272 | | $51,454 | $52,010 | $121,746 | $5,895,116 |
| Net income | — | | 405,825 | | | | — | | 14,284 | — | 10,599 | 430,708 |
| Change in fair value of derivatives and amortization of swap settlements | — | | — | | | | — | | — | (13,364) | — | (13,364) |
| Issuance of common units under: | | | | | | | | | | | | |
First 8 of 28 rows. The CSV has all of them.
| Balances at December 31, 2024 | 64,280 | $5,512,391 | 2,331 | $73,418 | $29,429 | $105,152 | $5,720,390 |
| Net income | — | 669,666 | — | 23,649 | — | 9,458 | 702,773 |
| Reversal of unrealized gains upon the sale of marketable debt securities | — | — | — | — | (27) | — | (27) |
| Change in fair value of derivatives and amortization of swap settlements | — | — | — | — | (19,508) | — | (19,508) |
| Change in fair value of marketable debt securities, net | — | — | — | — | 244 | — | 244 |
| Issuance of common stock under: | | | | | | | |
| General partner’s stock based compensation, net | 81 | 816 | — | — | — | — | 816 |
| Sale of common stock by general partner, net | — | (391) | — | — | — | — | (391) |
First 8 of 14 rows. The CSV has all of them.
| 2025 | 2024 | | 2023 | |
| Cash flows from operating activities: | | | | | |
| Net income | $702,773 | | $811,306 | | $430,708 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | |
| Straight-lined rents | (1,115) | | 34 | | 2,773 |
| Depreciation and amortization | 607,542 | | 580,220 | | 548,438 |
| Amortization of discount and debt financing costs, net | 7,162 | | 7,795 | | 6,911 |
| Realized and unrealized gains on marketable securities, net | (3,809) | | (8,347) | | (10,006) |
First 8 of 41 rows. The CSV has all of them.
| Payments on unsecured debt and mortgage notes | (808,611) | (403,108) | (302,429) |
| Proceeds from lines of credit and commercial paper | 7,935,548 | 1,667,476 | 844,046 |
| Repayments of lines of credit and commercial paper | (8,073,493) | (1,529,531) | (896,119) |
| Retirement of common units | — | — | (95,657) |
| Additions to deferred charges | (13,394) | (9,568) | (1,736) |
| Payments related to debt prepayment penalties | (697) | — | — |
| Net costs from issuance of common units | (391) | (296) | (347) |
| Net proceeds from stock options exercised | 8,930 | 12,313 | — |
First 8 of 29 rows. The CSV has all of them.
Table 36 after “The depreciable life of various categories of fixed assets is as follows:”
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| Computer software and equipment | 3 - 5 years |
| Interior apartment home improvements | 5 years |
| Furniture, fixtures and equipment | 5 - 10 years |
| Land improvements and certain exterior components of real property | 10 years |
| Real estate structures | 30 years |
Table 37 after “The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets”
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| December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Cash and cash equivalents - unrestricted | $76,241 | | $66,795 | | $391,749 |
| Cash and cash equivalents - restricted | 9,345 | | 9,051 | | 8,585 |
| Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows | $85,586 | | $75,846 | | $400,334 |
Table 38 after “As of December 31, 2025 and 2024, marketable securities consisted of the following ($ in thousands):”
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| December 31, 2025 | | | | |
| Amortized Cost | Gross Unrealized Gain | | Carrying Value | |
| Equity securities: | | | | | |
| Investment funds - debt securities | $2,677 | | $6 | | $2,683 |
| Common stock, preferred stock and stock funds | 48,738 | | 21,736 | | 70,474 |
| Available for sale debt securities: | | | | | |
| U.S. Treasury and agency securities | 10,186 | | 103 | | 10,289 |
| Certificates of deposit | 5,000 | | — | | 5,000 |
First 8 of 11 rows. The CSV has all of them.
Table 39 after “December 31, 2025, 2024, and 2023”
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| December 31, 2024 | | | | |
| Amortized Cost | Gross Unrealized Gain (Loss) | | Carrying Value | |
| Equity securities: | | | | | |
| Investment funds - debt securities | $2,645 | | $(67) | | $2,578 |
| Common stock, preferred stock and stock funds | 49,195 | | 18,021 | | 67,216 |
| Total - Marketable securities | $51,840 | | $17,954 | | $69,794 |
Table 40 after “Cash dividends on Essex’s common stock for the years ended December 31, 2025, 2024 and 2023 were classified for federal income tax purposes ”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Common Stock | | | | | |
| Ordinary income | 96.74% | | 98.19% | | 88.46% |
| Capital gain | 1.43% | | 1.81% | | 8.32% |
| Unrecaptured section 1250 capital gain | 1.83% | | —% | | 3.22% |
| 100.00% | | 100.00% | | 100.00% |
| Change in fair value of derivatives 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) income before reclassification | (23,990) | | 236 | | (23,754) |
| Amounts reclassified from accumulated other comprehensive income | 5,172 | | (26) | | 5,146 |
| Other comprehensive (loss) income | (18,818) | | 210 | | (18,608) |
| Balance at December 31, 2025 | $5,837 | | $210 | | $6,047 |
| Change in fair value of derivatives and amortization of swap settlements | Unrealized gain on available for sale debt securities | | Total | |
| Balance at December 31, 2024 | $29,429 | | $— | | $29,429 |
| Other comprehensive (loss) income before reclassification | (24,863) | | 244 | | (24,619) |
| Amounts reclassified from accumulated other comprehensive income | 5,355 | | (27) | | 5,328 |
| Other comprehensive (loss) income | (19,508) | | 217 | | (19,291) |
| Balance at December 31, 2025 | $9,921 | | $217 | | $10,138 |
Table 43 after “The changes in the redemption value of redeemable noncontrolling interest for the years ended December 31, 2025, 2024 and 2023 were as follo”
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| 2025 | 2024 | | 2023 | |
| Balance at January 1, | $30,849 | | $32,205 | | $27,150 |
| Reclassifications due to change in redemption value and other | (2,209) | | (835) | | 5,055 |
| Redemptions | (377) | | (521) | | — |
| Balance at December 31, | $28,263 | | $30,849 | | $32,205 |
Table 44 after “The table below summarizes acquisition activity for the year ended December 31, 2025 ($ in millions):”
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| Property Name | Location | Date | Apartment Homes | | Contract Price at Pro Rata Share | | |
| The Plaza | CA | Jan-25 | 307 | | | $161.4 | |
| One Hundred Grand | CA | Feb-25 | 166 | | | 105.3 | (1) |
| ROEN Menlo Park | CA | Feb-25 | 146 | | | 78.8 | |
| Revere Campbell | CA | May-25 | 168 | | | 118.0 | (1) |
| The Parc at Pruneyard | CA | May-25 | 252 | | | 122.5 | |
| ViO | CA | Sep-25 | 234 | | | 100.0 | |
| 1250 Lakeside | CA | Nov-25 | 250 | | | 143.5 | |
First 8 of 9 rows. The CSV has all of them.
Table 45 after “The table below summarizes disposition activity for the year ended December 31, 2025 ($ in millions):”
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| Property Name | Location | Date | Apartment Homes | | Sale Price at Pro Rata Share | | |
| Highridge | CA | Feb-25 | 255 | | $127.0 | | (1) |
| Essex Skyline | CA | Apr-25 | 350 | | 239.6 | (2) | |
| The Grand | CA | Jul-25 | 243 | | 97.5 | (3) | |
| Fourth & U | CA | Sep-25 | 171 | | 52.3 | (4) | |
| Total dispositions | | 1,019 | | $516.4 | | | |
Table 46 after “The carrying values of the Company’s co-investments as of December 31, 2025 and 2024 were as follows ($ in thousands, except in parenthetica”
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| Weighted Average Essex Ownership Percentage (1) | | December 31, | | |
| | 2025 | | 2024 | |
| Ownership interest in: | | | | | |
| Wesco I, Wesco III, Wesco IV, Wesco V and Wesco VI (2) | 54% | | $73,002 | | $147,232 |
| BEX IV and 500 Folsom | 50% | | 135,518 | | 146,142 |
| Other (2) | 53% | | 95,851 | | 86,089 |
| Total operating and other co-investments, net | | | 304,371 | | 379,463 |
| Total preferred equity co-investments (3) (includes related party investments of $52.8 million and $48.1 million as of December 31, 2025 and 2024, respectively. See Note 6, Related Party Transactions, for further discussion) | | | 227,342 | | 476,278 |
First 8 of 9 rows. The CSV has all of them.
Table 47 after “The combined summarized financial information of co-investments was as follows ($ in thousands):”
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| December 31, | | |
| 2025 | 2024 | |
| Combined balance sheets: (1) | | | |
| Rental properties and real estate under development | $3,220,390 | | $4,094,826 |
| Other assets | 194,413 | | 277,420 |
| Total assets | $3,414,803 | | $4,372,246 |
| Debt | $2,412,106 | | $3,001,303 |
| Other liabilities | 163,358 | | 235,111 |
First 8 of 10 rows. The CSV has all of them.
Table 48 after “The combined summarized financial information of co-investments was as follows ($ in thousands):”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Combined statements of income: (1) | | | | | |
| Property revenues | $332,330 | | $390,850 | | $409,910 |
| Property operating expenses | (124,504) | | (154,245) | | (158,520) |
| Net operating income | 207,826 | | 236,605 | | 251,390 |
| Gain on sale of real estate | 10,378 | | — | | — |
| Interest expense | (104,097) | | (142,601) | | (154,038) |
First 8 of 12 rows. The CSV has all of them.
Table 49 after “The following table presents the Company’s revenues disaggregated by revenue source for the periods presented ($ in thousands):”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Rental income | $1,850,551 | | $1,735,411 | | $1,636,070 |
| Other property | 27,413 | | 28,774 | | 22,194 |
| Management and other fees from affiliates | 9,381 | | 10,265 | | 11,131 |
| Total revenues | $1,887,345 | | $1,774,450 | | $1,669,395 |
Table 50 after “The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment for the periods ”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Southern California | $763,124 | | $714,975 | | $654,422 |
| Northern California | 760,821 | | 663,825 | | 628,880 |
| Seattle Metro | 313,410 | | 295,002 | | 282,092 |
| Other real estate assets (1) | 40,609 | | 90,383 | | 92,870 |
| Total rental and other property revenues | $1,877,964 | | $1,764,185 | | $1,658,264 |
Table 51 after “The following table presents the Company’s rental and other property revenues disaggregated by current property category status for the peri”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Same-property (1) | $1,642,989 | | $1,590,404 | | $1,540,045 |
| Acquisitions (2) | 169,002 | | 58,158 | | 1,037 |
| Non-residential/other, net (3) | 64,952 | | 115,644 | | 119,725 |
| Straight line rent concessions (4) | 1,021 | | (21) | | (2,543) |
| Total rental and other property revenues | $1,877,964 | | $1,764,185 | | $1,658,264 |
Table 52 after “Notes and other receivables consisted of the following as of December 31, 2025 and 2024 ($ in thousands):”
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| December 31, | | |
| 2025 | 2024 | |
| Note receivable, secured, bearing interest at 9.00%, due October 2026 (Originated October 2021) | $64,193 | | $60,538 |
| Note receivable, secured, bearing interest at 12.00%, due January 2025 (Originated August 2022) | — | | 3,167 |
| Note receivable, secured, bearing interest at 11.25%, due October 2027 (Originated October 2022) | 43,941 | | 39,187 |
| Receivable from preferred equity investment sponsor (1) | — | | 72,002 |
| Other receivables from affiliates (2) | 5,215 | | 5,646 |
| Straight line rent receivables (3) | 10,259 | | 9,235 |
First 8 of 11 rows. The CSV has all of them.
Table 53 after “The following table presents the activity in the allowance for credit losses for notes receivable, secured for the periods presented ($ in t”
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| Notes Receivable, Secured |
| Balance as of December 31, 2022 | $334 |
| Provision for credit losses | 353 |
| Balance as of December 31, 2023 | $687 |
| Provision for credit losses | (158) |
| Balance as of December 31, 2024 | $529 |
| Provision for credit losses | 26 |
| Balance as of December 31, 2025 | $555 |
Table 54 after “Unsecured debt consisted of the following as of December 31, 2025 and 2024 ($ in thousands):”
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| | | | Weighted Average Maturity In Years as of December 31, 2025 |
| December 31, | | | |
| 2025 | 2024 | | |
| Term loan - variable rate, net | $596,668 | $298,571 | | 4.7 |
| Bonds public offering - fixed rate, net | 5,419,253 | 5,175,217 | | 7.1 |
| Unsecured debt, net (1) | 6,015,921 | 5,473,788 | | |
| Lines of credit | — | 137,945 | | N/A |
| Commercial paper | — | — | | N/A |
First 8 of 13 rows. The CSV has all of them.
Table 55 after “The following is a summary of the Company’s senior unsecured notes as of December 31, 2025 and 2024 ($ in thousands):”
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| December 31, | | | | |
| Maturity | 2025 | 2024 | | Coupon Rate | |
| April 2025 | $— | | $500,000 | | 3.500% |
| April 2026 | 450,000 | | 450,000 | | 3.375% |
| May 2027 | 350,000 | | 350,000 | | 3.625% |
| March 2028 | 450,000 | | 450,000 | | 1.700% |
| March 2029 | 500,000 | | 500,000 | | 4.000% |
| January 2030 | 550,000 | | 550,000 | | 3.000% |
First 8 of 17 rows. The CSV has all of them.
Table 56 after “The aggregate scheduled principal payments of unsecured debt payable, excluding lines of credit and commercial paper, as of December 31, 202”
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| 2026 | $450,000 |
| 2027 | 350,000 |
| 2028 | 450,000 |
| 2029 | 500,000 |
| 2030 | 850,000 |
| Thereafter | 3,450,000 |
| Total | $6,050,000 |
Table 57 after “Mortgage notes payable consisted of the following as of December 31, 2025 and 2024 ($ in thousands):”
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| December 31, | | |
| 2025 | 2024 | |
| Fixed rate mortgage notes payable | $526,662 | | $674,092 |
| Variable rate mortgage notes payable (1) | 257,686 | | 315,792 |
| Total mortgage notes payable (2) | $784,348 | | $989,884 |
| Number of properties securing mortgage notes | 14 | | 19 |
| Remaining terms | 1-21 years | 1-22 years | |
| Weighted average interest rate | 4.4% | | 4.2% |
Table 58 after “The aggregate scheduled principal payments of mortgage notes payable as of December 31, 2025 were as follows ($ in thousands):”
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| 2026 | $99,405 |
| 2027 | 84,397 |
| 2028 | 68,332 |
| 2029 | 1,456 |
| 2030 | 66,592 |
| Thereafter | 466,889 |
| Total | $787,071 |
Table 59 after “A maturity analysis of undiscounted future minimum non-cancelable base rent to be received under the above operating leases as of December 3”
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| Future Minimum Rent |
| 2026 | $891,434 |
| 2027 | 19,955 |
| 2028 | 16,913 |
| 2029 | 14,034 |
| 2030 | 7,044 |
| Thereafter | 16,055 |
| Total | $965,435 |
Table 60 after “Supplemental consolidated balance sheet information related to leases as of December 31, 2025 and 2024 was as follows ($ in thousands):”
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| December 31, | | |
| 2025 | 2024 | |
| Assets | | | |
| Operating lease right-of-use assets | $50,833 | | $51,556 |
| Total leased assets | $50,833 | | $51,556 |
| Liabilities | | | |
| Operating lease liabilities | $51,487 | | $52,473 |
| Total lease liabilities | $51,487 | | $52,473 |
Table 61 after “The components of lease expense for the years ended December 31, 2025, 2024 and 2023 were as follows ($ in thousands):”
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| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Operating lease cost | $6,131 | | $6,480 | | $6,789 |
| Variable lease cost | 2,069 | | 1,980 | | 1,961 |
| Short-term lease cost | 90 | | 183 | | 186 |
| Sublease income | (144) | | (560) | | (500) |
| Total lease cost | $8,146 | | $8,083 | | $8,436 |
Table 62 after “A maturity analysis of lease liabilities as of December 31, 2025 is as follows ($ in thousands):”
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| Operating Leases |
| 2026 | $6,280 |
| 2027 | 3,750 |
| 2028 | 2,765 |
| 2029 | 2,756 |
| 2030 | 2,733 |
| Thereafter | 103,678 |
| Total lease payments | $121,962 |
First 8 of 10 rows. The CSV has all of them.
Table 63 after “Lease term and discount rate information for leases as of December 31, 2025 and 2024 was as follows:”
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| December 31, | | |
| 2025 | 2024 | |
| Weighted-average of remaining lease terms (years) | | | |
| Operating Leases | 40 | 41 | |
| Weighted-average of discount rates | | | |
| Operating Leases | 5.08% | | 5.04% |
Table 64 after “Basic and diluted income per share was calculated as follows ($ in thousands, except per share amounts):”
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| Year Ended December 31, | | | | | | | | | | | | | | | | |
| 2025 | 2024 | | 2023 | | | | | | | | | | | | | |
| Income | Weighted- average Common Shares | | Per Common Share Amount | 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 | $669,666 | | 64,379,418 | | $10.40 | | $741,522 | | | 64,228,356 | | $11.55 | | $405,825 | | 64,252,232 | $6.32 |
| Effect of dilutive securities | | | | | | | | | | | | | | | | | |
| Stock options | — | | 20,041 | | | — | | | 22,878 | | | | — | | 1,153 | | |
| Diluted: | | | | | | | | | | | | | | | | | |
First 8 of 9 rows. The CSV has all of them.
Table 65 after “Basic and diluted income per unit was calculated as follows ($ in thousands, except per unit amounts):”
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| Year Ended December 31, | | | | | | | | | | | | | | | | |
| 2025 | 2024 | | 2023 | | | | | | | | | | | | | |
| Income | Weighted- average Common Units | | Per Common Unit Amount | Income | Weighted- average Common Units | | Per Common Unit Amount | | Income | Weighted- average Common Units | | Per Common Unit Amount | | | | |
| Basic: | | | | | | | | | | | | | | | | | |
| Net income available to common unitholders | $693,315 | | 66,649,608 | | $10.40 | | $767,936 | | | 66,511,030 | | $11.55 | | $420,109 | | 66,513,303 | $6.32 |
| Effect of dilutive securities | | | | | | | | | | | | | | | | | |
| Stock options | — | | 20,041 | | | — | | | 22,878 | | | | — | | 1,153 | | |
| Diluted: | | | | | | | | | | | | | | | | | |
First 8 of 9 rows. The CSV has all of them.
Table 66 after “The following table summarizes information about the Company’s restricted stock awards:”
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| Year Ended December 31, | | | | | | | | | |
| 2025 | 2024 | | 2023 | | | | | | |
| Shares | Weighted- average grant date fair value | | Shares | Weighted- average grant date fair value | Shares | | Weighted- average grant date fair value | | |
| Unvested at beginning of year | 101,929 | | $211.27 | | 101,701 | | $197.22 | | 182,915 | $222.90 |
| Granted | 57,550 | | 260.90 | | 52,300 | | 212.02 | | 2,315 | 220.40 |
| Vested | (61,477) | | 218.50 | | (24,002) | | 187.32 | | (37,075) | 247.07 |
| Forfeited and canceled | (2,855) | | 235.94 | | (28,070) | | 182.25 | | (46,454) | 259.71 |
| Unvested at end of year | 95,147 | | $235.88 | | 101,929 | | $211.27 | | 101,701 | $197.22 |
Table 67 after “Stock options have the following weighted average assumptions:”
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| 2025 | 2024 | | 2023 | |
| Stock price | $— | | $— | | $216.31 |
| Risk-free interest rates | — | | — | | 4.06% |
| Expected lives | — | | — | | 6 years |
| Volatility | — | | — | | 36.00% |
| Dividend yield | — | | — | | 3.30% |
Table 68 after “The following table summarizes information about the Company’s stock options:”
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| Year Ended December 31, | | | | | | | | | |
| 2025 | 2024 | | 2023 | | | | | | |
| Options | Weighted- average exercise price | | Options | Weighted- average exercise price | Options | | Weighted- average exercise price | | |
| Outstanding at beginning of year | 471,383 | | $280.11 | | 530,812 | | $273.51 | | 487,446 | $279.46 |
| Granted | — | | — | | — | | — | | 49,908 | 216.31 |
| Exercised | (41,408) | | 215.65 | | (56,304) | | 218.68 | | — | — |
| Forfeited and canceled | (10,286) | | 327.52 | | (3,125) | | 266.21 | | (6,542) | 280.21 |
| Outstanding at end of year | 419,689 | | $285.31 | | 471,383 | | $280.11 | | 530,812 | $273.51 |
First 8 of 9 rows. The CSV has all of them.
Table 69 after “The following table summarizes information about the Company’s 2015 and 2014 LTIP awards:”
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| Total Vested and Outstanding Units | Weighted- average Grant-date Fair Value | |
| Balance as of December 31, 2023 | 97,637 | | $86.16 |
| Converted | (30,142) | | |
| Balance as of December 31, 2024 | 67,495 | | $85.80 |
| Converted | (12,948) | | |
| Balance as of December 31, 2025 | 54,547 | | $85.60 |
Table 70 after “The revenues and NOI for each of the reportable operating segments are summarized as follows for the years ended December 31, 2025, 2024 and”
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| Year Ended December 31, | | | | | | | | | | | | | | | |
| 2025 | | 2024 | | 2023 | | | | | | | | | | | |
| Rental and other property revenue | | Property operating expenses, including real estate taxes | | Net operating income | Rental and other property revenue | Property operating expenses, including real estate taxes | | Net operating income | Rental and other property revenue | Property operating expenses, including real estate taxes | | Net operating income | | | |
| Southern California | $763,124 | | | $225,015 | | $538,109 | | $714,975 | | $208,380 | | $506,595 | | $654,422 | $190,897 | $463,525 |
| Northern California | 760,821 | | | 235,979 | | 524,842 | | 663,825 | | 202,059 | | 461,766 | | 628,880 | 188,041 | 440,839 |
| Seattle Metro | 313,410 | | | 90,967 | | 222,443 | | 295,002 | | 87,558 | | 207,444 | | 282,092 | 81,334 | 200,758 |
| Other real estate assets | 40,609 | | | 7,025 | | 33,584 | | 90,383 | | 23,539 | | 66,844 | | 92,870 | 27,486 | 65,384 |
| Total | $1,877,964 | | | $558,986 | | $1,318,978 | | $1,764,185 | | $521,536 | | $1,242,649 | | $1,658,264 | $487,758 | $1,170,506 |
First 8 of 24 rows. The CSV has all of them.
Table 71 after “Total assets for each of the reportable operating segments as of December 31, 2025 and 2024 are summarized as follows ($ in thousands):”
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| December 31, | | |
| 2025 | 2024 | |
| Assets: | | | |
| Southern California | $4,194,554 | | $4,162,462 |
| Northern California | 6,136,977 | | 5,414,689 |
| Seattle Metro | 1,412,405 | | 1,460,865 |
| Other real estate assets (1) | 160,646 | | 400,884 |
| Net reportable operating segments - real estate assets | 11,904,582 | | 11,438,900 |
First 8 of 16 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| Encumbered communities | | | | | | | | | | | | | | | | | | | |
| 101 San Fernando | 323 | | San Jose, CA | $37,681 | | $4,173 | | $58,961 | | $23,239 | | $4,173 | | $82,200 | $86,373 | $(47,536) | 2001 | Jul-10 | 3-30 |
| Belmont Station | 275 | | Los Angeles, CA | 29,361 | | 8,100 | | 66,666 | | 11,984 | | 8,267 | | 78,483 | 86,750 | (48,159) | 2009 | Mar-09 | 3-30 |
| Brio | 300 | | Walnut Creek, CA | 64,860 | | 16,885 | | 151,741 | | 5,796 | | 16,885 | | 157,537 | 174,422 | (38,823) | 2015 | Jun-19 | 3-30 |
First 8 of 35 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| Avenue 64 | 224 | | Emeryville, CA | — | | 27,235 | | 64,403 | | 19,769 | | 27,235 | | 84,172 | 111,407 | (34,930) | 2007 | Apr-14 | 5-30 |
| Aviara (4) | 166 | | Mercer Island, WA | — | | — | | 49,813 | | 3,874 | | — | | 53,687 | 53,687 | (23,265) | 2013 | Apr-14 | 5-30 |
| Avondale at Warner Center | 446 | | Woodland Hills, CA | — | | 10,536 | | 24,522 | | 36,827 | | 10,601 | | 61,284 | 71,885 | (49,756) | 1970 | Jan-99 | 3-30 |
| Beaumont | 344 | | Woodinville, WA | — | | 22,101 | | 113,737 | | 1,200 | | 22,101 | | 114,937 | 137,038 | (4,221) | 2009 | Nov-24 | 3-30 |
First 8 of 37 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| CentrePointe | 224 | | San Diego, CA | — | | 3,405 | | 7,743 | | 26,010 | | 3,442 | | 33,716 | 37,158 | (28,633) | 1974 | Jun-97 | 3-30 |
| Century Towers | 376 | | San Jose, CA | — | | 14,865 | | 157,787 | | 1,618 | | 14,865 | | 159,405 | 174,270 | (7,235) | 2017 | Sep-24 | 3-30 |
| Chestnut Street | 96 | | Santa Cruz, CA | — | | 6,582 | | 15,689 | | 4,485 | | 6,582 | | 20,174 | 26,756 | (11,677) | 2002 | Jul-08 | 3-30 |
| City View | 572 | | Hayward, CA | — | | 9,883 | | 37,670 | | 46,307 | | 10,350 | | 83,510 | 93,860 | (71,224) | 1975 | Mar-98 | 3-30 |
First 8 of 36 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| Fountain Court | 320 | | Seattle, WA | — | | 6,702 | | 27,306 | | 17,933 | | 6,985 | | 44,956 | 51,941 | (38,560) | 2000 | Mar-00 | 3-30 |
| Fountains at River Oaks | 226 | | San Jose, CA | — | | 26,046 | | 60,773 | | 10,138 | | 26,046 | | 70,911 | 96,957 | (31,886) | 1990 | Apr-14 | 3-30 |
| Fox Plaza | 445 | | San Francisco, CA | — | | 39,731 | | 92,706 | | 45,825 | | 39,731 | | 138,531 | 178,262 | (77,012) | 1968 | Feb-13 | 3-30 |
| Hacienda at Camarillo Oaks | 73 | | Camarillo, CA | — | | 5,497 | | 17,572 | | 3,779 | | 5,497 | | 21,351 | 26,848 | (2,597) | 1984 | Apr-23 | 3-30 |
First 8 of 37 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| Montebello | 248 | | Kirkland, WA | — | | 13,857 | | 41,575 | | 19,686 | | 13,858 | | 61,260 | 75,118 | (29,398) | 1996 | Jul-12 | 3-30 |
| Montejo | 124 | | Garden Grove, CA | — | | 1,925 | | 7,685 | | 7,525 | | 2,194 | | 14,941 | 17,135 | (10,887) | 1974 | Nov-01 | 3-30 |
| Monterey Villas | 122 | | Oxnard, CA | — | | 2,349 | | 5,579 | | 10,382 | | 2,424 | | 15,886 | 18,310 | (12,639) | 1974 | Jul-97 | 3-30 |
| Muse | 152 | | North Hollywood, CA | — | | 7,822 | | 33,436 | | 8,053 | | 7,823 | | 41,488 | 49,311 | (23,052) | 2011 | Feb-11 | 3-30 |
First 8 of 37 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| Reveal | 438 | | Woodland Hills, CA | — | | 25,073 | | 121,314 | | 9,794 | | 25,073 | | 131,108 | 156,181 | (52,605) | 2010 | Apr-15 | 3-30 |
| Revere Campbell | 168 | | Campbell, CA | — | | 22,535 | | 93,977 | | 941 | | 22,535 | | 94,918 | 117,453 | (2,064) | 2015 | May-25 | 3-30 |
| ROEN Menlo Park | 146 | | Menlo Park, CA | — | | 19,319 | | 59,233 | | 468 | | 19,319 | | 59,701 | 79,020 | (1,682) | 2017 | Feb-25 | 3-30 |
| Salmon Run at Perry Creek | 132 | | Bothell, WA | — | | 3,717 | | 11,483 | | 6,065 | | 3,801 | | 17,464 | 21,265 | (13,242) | 2000 | Oct-00 | 3-30 |
First 8 of 36 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | | | | | | |
| Apartment | | | | Buildings and | subsequent to | Land and | Buildings and | | Accumulated | Date of | Date | Lives | | | | | | |
| Property | Homes | Location | Encumbrance | Land | improvements | acquisition | improvements | improvements | Total (1) | depreciation | construction | acquired | (years) | | | | | | |
| The Palms at Laguna Niguel | 460 | | Laguna Niguel, CA | — | | 23,584 | | 94,334 | | 19,723 | | 23,584 | | 114,057 | 137,641 | (51,662) | 1988 | Apr-14 | 5-30 |
| The Parc at Pruneyard | 252 | | Campbell, CA | — | | 31,068 | | 91,156 | | 570 | | 31,068 | | 91,726 | 122,794 | (2,045) | 1968 | May-25 | 3-30 |
| The Plaza | 307 | | Foster City, CA | — | | 34,341 | | 126,428 | | 846 | | 34,341 | | 127,274 | 161,615 | (3,908) | 2013 | Jan-25 | 3-30 |
| The Stuart | 188 | | Pasadena, CA | — | | 13,574 | | 54,298 | | 6,488 | | 13,574 | | 60,786 | 74,360 | (26,076) | 2007 | Apr-14 | 5-30 |
First 8 of 37 rows. The CSV has all of them.
| | | | | | Costs | | | | | | | | |
| | | | Initial cost | capitalized | Gross amount carried at close of period | | | | | | | | |
| | | | | Buildings and | subsequent | Land and | Buildings and | | Accumulated | | | | |
| | Property | Encumbrance | Land | improvements | to acquisition | improvements | improvements | Total(1) | depreciation | | | | |
| | Other real estate assets | — | | 46,781 | | 16,585 | | 18,191 | | 48,142 | 33,415 | 81,557 | (22,994) |
| | | $— | | $46,781 | | $16,585 | | $18,191 | | $48,142 | $33,415 | $81,557 | $(22,994) |
| Total | $784,347 | | $3,308,897 | | $12,060,444 | | $3,067,244 | | $3,363,169 | | $15,073,416 | $18,436,585 | $(6,532,003) | |
Table 80 after “A summary of activity for rental properties and accumulated depreciation is as follows:”
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| Year Ended December 31, | | Year Ended December 31, | | | | | | | | |
| 2025 | 2024 | | 2023 | | 2025 | 2024 | | 2023 | | |
| Rental properties: | | | | | Accumulated depreciation: | | | | | | |
| Balance at beginning of year | $17,589,518 | | $16,135,223 | | $15,966,227 | | Balance at beginning of year | $6,150,618 | | $5,664,931 | $5,152,133 |
| Acquisition, development, and improvement of real estate | 1,279,457 | | 1,614,570 | | 235,423 | | Depreciation expense | 595,867 | | 571,813 | 545,702 |
| Disposition of real estate and other | (432,390) | | (160,275) | | (66,427) | | Accumulated depreciation - Disposals and other | (214,482) | | (86,126) | (32,904) |
| Balance at the end of year | $18,436,585 | | $17,589,518 | | $16,135,223 | | Balance at the end of year | $6,532,003 | | $6,150,618 | $5,664,931 |
| EXHIBIT INDEX |
| Exhibit No. | Document |
| 3.1 | Articles of Amendment and Restatement of Essex Property Trust, Inc., attached as Exhibit 3.2 to the Company’s Current Report on Form 8-K, filed May 23, 2016, and incorporated herein by reference. |
| 3.2 | Seventh Amended and Restated Bylaws of Essex Property Trust, Inc. (effective as of December 8, 2022), attached as Exhibit 3.1 to the Company’s Current Report on Form 8-K, filed December 13, 2022, and incorporated herein by reference. |
| 3.3 | Certificate of Limited Partnership of Essex Portfolio, L.P. and amendments thereto, attached as Exhibit 3.4 to the Company’s Annual Report on Form 10-K, filed February 25, 2022, and incorporated herein by reference. |
| 4.1 | Description of Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934, attached as Exhibit 4.14 to the Company’s Annual Report on Form 10-K, filed February 23, 2023, and incorporated herein by reference. |
| 4.2 | Form of Common Stock Certificate of Essex Property Trust, Inc., filed as Exhibit 4.5 to the Company’s Form S-4 Registration Statement, filed January 29, 2014, and incorporated herein by reference. |
| 4.3 | Indenture, dated April 11, 2016, among Essex Portfolio, L.P., Essex Property Trust, Inc., and U.S. Bank National Association, as trustee, including the form of the 3.375% Senior Notes due 2026 and the guarantee thereof, attached as Exhibit 4.1 to the Company’s Current Report on Form 8-K, filed April 11, 2016, and incorporated herein by reference. |
First 8 of 17 rows. The CSV has all of them.
| 4.13 | First Supplemental Indenture, dated March 14, 2024, 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 March 14, 2024, and incorporated herein by reference. |
| 4.14 | 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 5.375% Senior Notes due 2035 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. |
| 4.15 | Third Supplemental Indenture, dated December 12, 2025, among Essex Portfolio, L.P., Essex Property Trust, Inc., and U.S. Bank Trust Company, National Association, as trustee, including the form of 4.875% Senior Notes due 2036 and the guarantee thereof, attached as Exhibit 4.2 to the Company’s Current Report on Form 8-K filed December 12, 2025, and incorporated herein by reference. |
| 10.1 | Agreement between Essex Property Trust, Inc. and George M. Marcus, dated March 27, 2003 attached as Exhibit 10.32 to the Company’s Annual Report on Form 10-K, filed March 31, 2003, and incorporated herein by reference. |
| 10.2 | Essex Property Trust, Inc. Deferred Compensation Plan, As Amended and Restated As of January 1, 2021, attached as Exhibit 10.2 to the Company’s Annual Report on Form 10-K, filed February 25, 2022, and incorporated herein by reference. |
| 10.3 | Form of Indemnification Agreement between Essex Property Trust, Inc. and its directors and officers, attached as Exhibit 10.3 to the Company's Annual Report on Form 10-K filed February 18, 2025, and incorporated herein by reference.# |
| 10.4 | Amendment to Agreement, dated as of September 11, 2012, between the Company and George Marcus, attached as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q, filed November 5, 2012, and incorporated herein by reference. |
| 10.5 | Amended and Restated Essex Property Trust Inc. Executive Severance Plan attached as Exhibit 10.6 to the Company’s Annual Report on Form 10-K, filed February 23, 2024, and incorporated herein by reference.# |
First 8 of 17 rows. The CSV has all of them.
| 10.15 | Forms of Essex Property Trust, Inc. Long-Term Incentive Award Agreements pursuant to the 2018 Stock Award and Incentive Compensation Plan for awards granted prior to fiscal year 2024, attached as Exhibit 10.18 to the Company’s Annual Report on Form 10-K, filed February 25, 2022, and incorporated herein by reference.# |
| 10.16 | Forms of Essex Property Trust, Inc. Long-Term Incentive Award Agreements pursuant to the 2018 Stock Award and Incentive Compensation Plan for awards granted commencing fiscal year 2024, attached as Exhibit 10.19 to the Company’s Annual Report on Form 10-K, filed February 23, 2024, and incorporated herein by reference.# |
| 10.17 | Deferred Compensation Plan for Non-Employee Directors, attached as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q, filed May 7, 2020, and incorporated herein by reference.# |
| 10.18 | Sixth Amended and Restated Revolving Credit Agreement, dated July 7, 2025, among Essex Portfolio, L.P., PNC Bank, National Association, as Administrative Agent and L/C Issuer and other lenders party thereto, attached as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q, filed July 30, 2025, and incorporated herein by reference. |
| 10.19 | Term Loan Agreement, dated as of May 20, 2025, among Essex Portfolio, L.P., U.S. Bank National Association, as Administrative Agent and Lender and the other lenders party thereto, attached as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q, filed July 30, 2025, and incorporated herein by reference. |
| 10.20* | Amended and Restated Term Loan Agreement, dated October 10, 2025, among Essex Portfolio, L.P., U.S. Bank National Association, as Administrative Agent and Lender and the other lenders party thereto.† |
| 19.1 | Essex Property Trust, Inc. Insider Trading Policy, attached as Exhibit 19.1 to the Company's Annual Report on Form 10-K, filed February 21, 2025, and incorporated herein by reference. |
| 21.1* | List of Subsidiaries of Essex Property Trust, Inc. and Essex Portfolio, L.P. |
First 8 of 24 rows. The CSV has all of them.
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |
Table 85 after “Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of”
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| Signature | Title | Date |
| /s/ GEORGE M. MARCUSGeorge M. Marcus | Director and Chairman of the Board | February 20, 2026 |
| /s/ KEITH R. GUERICKEKeith R. Guericke | Director, and Vice Chairman of the Board | February 20, 2026 |
| /s/ IRVING F. LYONS, IIIIrving F. Lyons, III | Lead Director | February 20, 2026 |
| /s/ JOHN V. ARABIAJohn V. Arabia | Director | February 20, 2026 |
| /s/ ANNE B. GUSTAnne B. Gust | Director | February 20, 2026 |
| /s/ MARIA R. HAWTHORNEMaria R. Hawthorne | Director | February 20, 2026 |
| /s/ AMAL M. JOHNSONAmal M. Johnson | Director | February 20, 2026 |
First 8 of 10 rows. The CSV has all of them.