Essex Property Trust, one of the largest apartment owners on the West Coast, reported double-digit declines in funds from operation in the third quarter, including a substantial amount that came from concessions the company provided to renters. The company has been one of the main financial supporters behind a campaign to defeat a California ballot measure that would seek to expand rent control. At its earnings call on Thursday, the San Mateo, California-based real estate
source https://therealdeal.com/2020/10/29/essex-propertys-tenant-concessions-help-drive-down-q3-earnings/
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