Essex Property Trust, Inc. (NYSE: ESS), a fully integrated Real Estate Investment Trust (REIT) that invests in apartment communities located in highly desirable, supply-constrained markets, announced today that the Company has entered into a venture to acquire Essex Skyline at MacArthur Place, a 349-unit high rise condominium project in Santa Ana, California for $128 million.
More on REIT Buys Interest in Luxury Orange County Condo Project
More than two-thirds (69%) of smaller, independent landlords will reduce rents to help tenants remain in their homes, according to The National Association of Independent Landlords.
Nearly one-third of these landlords (32%) say they have lowered rents over the past 18 months, according to an informal survey of association members released today.
