Alston & Bird advised an underwriting syndicate led by Wells Fargo Securities LLC and J.P. Morgan Securities LLC on Essex Property’s $350 million underwritten public offering of 4.875% senior notes due 2036. Essex indicated that it intends to use the net proceeds to refinance upcoming debt maturities and for general corporate and working capital purposes, including potential acquisitions.
Essex Property Trust is an S&P 500 multifamily real estate investment trust focused on West Coast markets.
The Alston & Bird team was led by partner Michael Kessler. The team also included partner Paul Hespel (Finance); senior associate Misbah Mohiuddin and associate Boran Ding (Corporate & Business Transactions); partner David E. Brown (Financial Services); partner Stefanie Kavanagh (Federal & International Tax); counsel David Rutherford and associate Yemisi Falade (Finance); counsel Jody Rosen (Investment Management); and partner Tom Wingard (Corporate & Business Transactions).