Essex, BRE Finally Come to Terms On $4.3B Merger

Source:  CoStar

After a long courtship, Essex Property Trust Inc. (NYSE:ESS) and BRE Properties Inc. (NYSE:BRE) have agreed to merge for $4.3 billion in cash and stock. If consummated, the transaction between the two San Francisco Bay Area rivals would form the largest pure-play apartment REIT on the West Coast, with an expected total market capitalization of about $15.4 billion. San Francisco-based BRE said earlier this month it has begun a review of strategic...

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