BB&T Capital Markets Serves as a Senior Co-Manager on Essex Property Trust, Inc.’s Senior Note Offering
BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2017, helping to raise $350,000,000 for our client.
The Company intends to use net proceeds to repay indebtedness under its unsecured line of credit facilities and for other general corporate and working capital purposes.
About the Companies
Essex Property Trust, Inc. , together with it’s operating partnership, Essex Portfolio, L.P., (“ESS” or “The Company”) is a Maryland corporation that operates as a self-administered and self-managed real estate investment trust. ESS is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. As of December 31, 2016, the Company owned or held an interest in 245 communities, aggregating 59,645 apartment homes, excluding the Company's ownership in preferred equity investments, as well as two operating commercial buildings (totaling approximately 140,564 square feet), and six active development projects with 2,223 apartment homes in various stages of development.
Our Real Estate Group is led by an experienced banking team focused on serving the broad needs of the Real Estate Investment Trust (REIT), commercial real estate and hospitality sectors. Through our extensive industry connections and in-house retail and institutional distribution capabilities, our clients gain access to the broadest markets—as well as the balance sheet strength and resources of one of the nation's strongest financial institutions.
Our corporate and investment bankers are experts in all aspects of the commercial real estate sector and provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs, and each stage of their development.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 11 distinct industry verticals including Aerospace, Defense & Government Services; Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.