Essex Property Trust (ESS) 2004年年度报告「NYSE」.pdf

1、19941995199619971998199920002001200220032004t h e p r o v e n l e a d e r i n w e s t c o a s t a p a r t m e n t 2004 annual reportserving essexs shareholders 1994 to 20042 0 0 4A N N U A LR E P O R TEssexs business strategy was founded on the belief that successful real estate investing is accompl

2、ished throughextensive regional economic research and local market knowledge,which has been demonstrated by Essexs steadygrowth over the last decade.A proprietary research model has been developed over the last 20 years,and is utilizedby Essexs executive team as an essential tool in identifying valu

3、e added opportunities in targeted real estatemarkets.Several factors that underlie rental growth are analyzed:diverse economic conditions and job growth,demographics,housing supply expectations and affordability,and various socioeconomic trends.The Companytargets markets in highly desirable coastal

4、communities where there are significant constraints on development ofadditional multifamily and single-family housing and where rental demand is reinforced through the high cost ofowning a home.focused strategyESSEXS BEGINNINGS GO BACK TO 1971,WHEN REAL ESTATE ENTREPRENEUR,GEORGE M.MARCUSFORMED ESSE

5、X PROPERTY CORPORATION.IN 1994,WITH A PORTFOLIO OF 16 MULTIFAMILY COMMUNITIES,THE COMPANY MADE ITS PUBLIC DEBUT AS ESSEX PROPERTY TRUST,INC.(NYSE:ESS)-A FULLY INTEGRATED REAL ESTATE INVESTMENT TRUST(REIT)THAT ACQUIRES,DEVELOPS,REDEVELOPS,AND MANAGES MULTIFAMILY APARTMENT COMMUNITIES FOCUSED ON SUPPL

6、YCONSTRAINED MARKETS ALONG THE WEST COAST THE SAN FRANCISCO BAY AREA,SOUTHERN CALIFORNIA,AND THE SEATTLE METROPOLITAN AREA.TODAY,ESSEX HAS OWNERSHIP INTERESTS IN OVER 120 MULTIFAMILY PROPERTIES,AGGREGATING APPROXIMATELY 26,000 APARTMENTHOMES,WITH 777 UNITS IN VARIOUS STAGES OF DEVELOPMENT.essex1994