2 residential REITS come together to form $15.4B company

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Essex Property Trust’s planned $4.34 billion acquisition of rival West Coast residential real estate investment trust BRE Properties would create the “only publicly traded West Coast pure play multifamily REIT” with a portfolio of 56,000 multifamily units in California and Seattle and a total market cap of $15.4 billion, the companies said. Source: marketwired.com