Essex Property Trust, Inc. · NYSE:ESS
Essex Property Trust — Investor Presentation (September 2011)
18 slides from Essex Property Trust's investor presentation, Sep 20, 2011
Slide 1: Essex Property Trust
ESSEX PROPERTY TRUST Millennium- Los Angeles, CA (438 units) Acquired 2011
Slide 2: Creating Opportunities for Growth
CREATING OPPORTUNITIES for GROWTH 101 San Fernando - San Jose, CA 416 on Broadway - Glendale, CA Santee Court - Los Angeles, CA Via - Sunnyvale, CA Bellerive, Los Angeles, CA The Bernard - Seattle, WA
Slide 3: External Growth
1 Corbella (169 units) 2 Elevation (157 units) 3 Courtyard off Main (109 units) 4 Joule (295 units) 5 The Bernard (63 units) 6 Fourth & U (171 units) 7 Via (284 units) 8 Family Tree (121 units) 9 101 San Fernando (323 units) 10 The Commons (264 units) 11 Bella Villagio (231 units) 12 Arbors at Parc
Slide 4: Celebrating Years of Excellence
CELEBRATING 40 YEARS of EXCELLENCE 1971 George Marcus forms Essex Property Corporation 1988 Essex delivers 8 development communities under the name Summerhill Development 1994 Prices IPO at $19.50 per share (6.3 million shares). Essex has ownership in 16 apartment communities in the West Coast 1997
Slide 5: 2011 Guidance (updated August 5, 2011)
FFO Per Share Guidance $5.58- $5.73 Same Property NOI Growth (Midpoint) 6.0% Market Expectations 2011 2011 2011 Market Market Market Job Growth Rent Growth Occupancy Southern California 0.9% 5.0% 95.2% Northern California 1.3% 8.7% 96.3% Seattle Metro 2.0% 9.0% 95.5% Weighted Average 1.1% 7.5% 95.7%
Slide 6: Essex Market Dynamics
ESSEX MARKET DYNAMICS Source - National Association of Realtors, DataQuick, Essex
Slide 7: Anavia - Anaheim, CA
Anavia - Anaheim, CA
Slide 8: Development Track Record
RECENT DEVELOPMENT AWARDS 2011 Fourth and U, Berkeley, CA Gold Nugget, Award of Merit - Best Mixed-Use Project 2010 Eastlake 2851, Seattle, WA Pillars of the Industry, Finalist - Best Garden Apartment Community 2010 The Grand, Oakland, CA Pillars of the Industry, Finalist - Best High Rise Apartments
Slide 9: Redevelopment
28 units added at Foothill Commons - Bellevue, WA Before/After at Highridge - Rancho Palos Verdes, CA REDEVELOPMENT Before/After at The Pointe - Cupertino, CA
Slide 10: San Jose
SAN JOSE Via - Sunnyvale, CA Family Tree - Santa Clara, CA Cadence Campus - San Jose, CA Bella Villagio - San Jose, CA The Commons, Campbell, CA
Slide 11: San Jose MSA Wages and Jobs
SJ MSA U.S. Average Wage % of Total Jobs Average Wage % of Total Jobs $73,144 4% $50,268 4% $145,811 17%* $68,393 9% $68,868 15% $45,227 19% $183,894 5% $86,949 2% $37,193 4% $48,585 6% $92,283 19% $57,552 13% $52,873 25% $36,955 29% $84,500 11% $62,914 18% $89,752 $50,784 Gap = 3% of current rents
Slide 12: Seattle
SEATTLE Joule - Seattle, WA Queen Anne - Seattle, WA Courtyard off Main - Bellevue, WA
Slide 13: Seattle Jobs Share
% of Total Jobs 4% 9% 19% 2% 6% 13% 29% 18% Gap = 6% of current rents
Slide 14: Los Angeles
LOS ANGELES Millennium, Los Angeles, CA Bellerive, Los Angeles, CA 416 on Broadway - Glendale, CA
Slide 15: LA MSA Wages and Jobs
LA MSA U.S. Average Wage % of Total Jobs Average Wage % of Total Jobs $58,565 3% $50,268 4% $73,593 10% $68,393 9% $50,381 20% $45,227 19% $111,157 5% $86,949 2% $42,135 5% $48,585 6% $64,705 14% $57,552 13% $44,148 28% $36,955 29% $75,353 15% $62,914 18% $59,645 $50,784 Gap = 10% of current rents
Slide 16: Orange County
ORANGE COUNTY Axis 2300 - Irvine, CA Essex Skyline - Santa Ana, CA Anavia - Anaheim, CA
Slide 17: ORG MSA Wages and Jobs
ORG MSA U.S. Average Wage % of Total Jobs Average Wage % of Total Jobs $81,817 5% $50,268 4% $80,612 11% $68,393 9% $59,061 18% $45,227 19% $81,716 2% $86,949 2% $50,573 8% $48,585 6% $64,251 18% $57,552 13% $40,692 27% $36,955 29% $74,187 11% $62,914 18% $60,005 $50,784 Gap = 6% of current rents
Slide 18: Notes
NOTES ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ______________________
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