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10/11/2016 04:15:00 PM
10/11/2016 04:15:00 PM UTC-0400

Essex Announces Moody's Rating Upgrade to Baa1

SAN MATEO, CA--(Marketwired - October 11, 2016) - Essex Property Trust, Inc. (NYSE: ESS) announced today that Moody's Investors Service (Moody's) has upgraded the Company's senior unsecured rating to Baa1 from Baa2. The outlook is stable. Moody's based their upgrade on the Company's meaningful scale and position on the West Coast, successful track record of operating in its chosen supply-constrained markets, and strong balance sheet.

About Essex Property Trust, Inc.
Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 243 apartment communities with an additional 7 properties in various stages of active development. Additional information about Essex can be found on the Company's website at www.essex.com.

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