ESS Essex Property Trust Secures $275M Unsecured Term Loan Maturing September 2029
· The NYC Memo
On September 24, 2026, Essex Property Trust, Inc., through Essex Portfolio, L.P., entered into a $275 million Unsecured Term Loan Agreement with Bank of America, N.A. and other lenders. The term loan matures on September 24, 2029, bears interest at SOFR plus 0.800%, and includes two one-year extension options. Proceeds are intended for repayment of commercial paper and general corporate purposes, with an option to increase the facility by $225 million to a total of $500 million.