The multifamily property portfolio that was part of the recent transaction includes four apartment properties located in Fountain Valley, Santa Ana, San Diego, and Bothell, Washington. The properties consist of Havens in Fountain Valley, Parkside Court in Santa Ana, Esplanade in San Diego, and Bothell Ridge in Bothell. These properties were primarily built in the 1980s, totaling 1,480 units with a sale price of $505,000,000, amounting to an average price per unit of $341,216.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $505,000,000
• Units: 1,480
• Address: 10349 Slater Avenue, 4200 West 1st Street, 10201 Camino Ruiz & 19928 Bothell Everett Highway Southeast
• Market: Fountain Valley, Santa Ana, San Diego, CA; Bothell, Washington

Essex Property Trust Inc. completed the purchase by acquiring the remaining 49.9 percent stake in the multifamily portfolio from AEW Capital Management. The seller, Jonathan Martin of AEW Capital Management, facilitated the deal. This transaction marks the completion of Essex Property Trust Inc.'s acquisition, which began with an initial purchase in 2014, solidifying their ownership of the properties across Washington and California.