Essex Property Trust

Essex maintains investment‑grade ratings (Moody’s Baa1, S&P BBB+), net indebtedness to Adjusted EBITDAre around 5.5x, and unencumbered NOI above 90%.

Liquidity exceeded 1.7 billion at 12/31/25. The company extended a 300 million term loan to 2031 and issued 350 million of 10‑year notes at 4.875% to pre‑fund a 2026 maturity, reducing near‑term refinancing risk. Debt to total assets sits near 35% and the unsecured platform with staggered maturities provides flexibility through cycles.

These metrics underpin resilience in the event of slower rent growth or delayed transaction markets.