S&P affirms Essex Property Trust

Standard & Poor's said it affirmed its BBB corporate credit ratings on Essex Property Trust and Essex Portfolio LP.

At the same time, all other Essex-related ratings are affirmed, the agency noted.

The outlook is stable.

S&P added that the ratings acknowledge a solid core portfolio of well-positioned West Coast multifamily communities and the company's historically disciplined approach to investment management.

Further, Essex has demonstrated its ability to access a variety of favorably priced capital sources, enabling it to find and finance accretive investment opportunities in a highly competitive acquisition environment, the agency said.

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