Episode 350: Essex CEO Mike Schall Reflects on Finding the Right Investments in the Right Place
Essex Property Trust, Inc . (NYSE:ESS) President and CEO Mike Schall says the multifamily REIT is facing favorable tailwinds\u2014including continued tech investment in its core markets, muted supply, and strong balance sheet fundamentals\u2014as he prepares to step down from his current role at the end of the month.
Schall has served as president and CEO since 2011. His successor is Angela Kleiman, Essex\u2019s current SVP and COO.
Speaking with the REIT Report, Schall said, \u201cComing out of periods of disruption, we've always been an opportunistic company. We've always found the right investments in the right place. And I think this is the case today.\u201d
Schall highlighted the rapid pace of investments underway today by tech companies in artificial intelligence, which is likely to drive the economies of northern California and Seattle. \u201cThat will help Essex continue to grow as it has over much of the last 30 years or so.\u201d