Essex spends $414m on three apartment deals in the San Francisco Bay Area

San Mateo, Calif.-based Essex Property Trust has acquired three apartment complexes in Emeryville, Menlo Park and Redwood City, with the total acquisition cost of $414.7 million, according to the public REIT’s third quarter 2019 earnings report.

In August 2019, Wesco V, a joint venture in which the company owns a 50 percent interest, acquired The Courtyards at 65th Street, a 331-unit apartment home community located in Emeryville, Calif., for $178 million. The property provides convenient commuter access to San Francisco and Oakland.

And in August 2019, BEX IV, a new joint venture in which the company owns a 50.1 percent interest, acquired 777 Hamilton Apartments in Menlo Park, Calif., for $148 million. Built in 2017, the 195-unit apartment home community is adjacent to Facebook’s global headquarters.

In September 2019, the company purchased Township, a 132-unit apartment home community located in Redwood City, Calif., for $88.7 million. The property is located in a highly desirable commuter location.