Northern California Carries Essex as Bay Area Tech Demand Outpaces Seattle, Los Angeles in Q1

The West Coast's largest multifamily REIT beat expectations as cap rate compression and a $62 million stock buyback signaled a private-public valuation gap. Essex Property Trust delivered a Q1 2026 beat that exposed a widening performance gap across its three core markets, with Northern California's tech-fueled rebound carrying a portfolio still digesting last year's Seattle […]