NAA Industry Insider: Essex Property Trust, BRE Combine to Form $11B Company

Essex Property Trust Inc. last week closed on its purchase of BRE Properties Inc. to create a combined, $11.1 billion company, ranking as the largest REIT on the West Coast. The new company will operate under the Essex name, with Essex President and CEO Michael Schall heading up the new firm. Worth $6.2 billion of stock and cash, the deal unites two of the San Francisco Bay Area's largest real estate companies that have both focused on building and owning apartment communities in supply-constrained markets.

Read more of today's Industry Insider.