Essex Property Trust is a publicly traded multifamily REIT focused on selected West Coast markets. The company has ownership interests in 259 apartment communities comprising more than 63,000 apartment homes and has increased its annual dividend for 32 consecutive years.
Publicly traded REITs provide company-level real estate exposure through exchange-traded shares. Other structures provide property-specific fractional ownership, pooled real estate funds, single-family rental exposure, or different multifamily portfolios.
This guide compares ten Essex Property Trust alternatives based on ownership structure, property selection, real estate focus, distribution schedules, management, and liquidity.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Key Takeaways
mogul provides property-specific residential real estate access with institutional underwriting, professional management, monthly income, and individual property selection
Vivmark Residential, MAA, Camden, UDR, and NexPoint use publicly traded multifamily REIT structures across different U.S. markets
Invitation Homes and AMH focus on single-family rental homes through publicly traded company-level structures
Fundrise uses pooled real estate funds holding multiple private real estate assets
Arrived provides individual rental-property offerings and real estate funds through a different residential investment structure
Why Compare Essex Property Trust Alternatives?
Essex provides company-level exposure to multifamily apartment communities concentrated in selected West Coast markets. Other real estate structures provide access to different geographic footprints, individual residential properties, single-family rentals, pooled funds, or other multifamily portfolios.
Property-specific platforms associate investments with identifiable residential assets or property-level entities. Public REITs provide exposure through company shares representing broader portfolios, while private real estate funds pool capital across multiple underlying properties.
Tax reporting can also vary by structure. Rental property depreciation applies to qualifying income-producing real estate, while property-level partnership structures can allocate applicable real estate tax items through partnership reporting depending on the ownership structure and individual circumstances.
1) mogul
Investment Model: Property-specific fractional residential real estate
Distribution Frequency: Monthly once a property is operational and has distributable net rental income
Average Annual Return: 18.8% average return, measured as IRR
mogul was founded by former Goldman Sachs real estate professionals. The team brings more than $10 billion experience in real estate investing, and Less than 1% of reviewed properties pass the full diligence process.
The platform combines property-specific investment-club structures with institutional underwriting and professional property management. Members review individual residential properties and select the assets represented in their portfolios.
mogul has $100M+ invested on the platform, 50K+ members, and 600+ units, alongside an 18.8% average annual return measured as IRR.
Key Features
Property-specific selection: Members select individual residential properties
Institutional underwriting: Market research, property-level analysis, inspections, acquisition review, and investment-committee review support property selection
Professional management: Leasing, maintenance, resident or guest coordination, and day-to-day property operations are professionally managed
Monthly distributions: Distributable net rental income is processed monthly once a property is operational
Property-level reporting: Members receive visibility into the individual residential assets represented in their portfolios
Governance rights: Members can receive proportional voting rights on supported property-level decisions
First-year protection: Qualifying new members can receive up to $10,000 loss protection, subject to the applicable promotion terms
The property selection process combines sourcing, underwriting, diligence, acquisition analysis, and investment-committee review to identify professionally vetted residential properties.
Essex Comparison
Essex provides company-level exposure through publicly traded shares representing a portfolio of West Coast apartment communities. mogul provides property-level access, giving members the ability to select fractional interests associated with individual residential properties.
mogul also combines individual property selection with institutional underwriting, professional management, monthly distributions, property-level reporting, and first-year loss protection for qualifying new members.
2) Vivmark Residential
Investment Model: Publicly traded apartment REIT
Ticker: NYSE: VMRK
Portfolio: More than 184,000 apartment homes
Vivmark Residential was formed through the combination of AvalonBay Communities and Equity Residential. An SEC filing lists more than 184,000 apartment homes across the combined portfolio and more than $4.4 billion in active development.
Key Features
Publicly traded structure: Shares trade on the New York Stock Exchange
Large apartment portfolio: The combined portfolio includes more than 184,000 apartment homes
Multiple U.S. markets: Communities span several major metropolitan areas
Development activity: Vivmark maintains an active multifamily development program
Company-level exposure: Shareholders participate through the overall REIT rather than selecting individual properties
Essex Comparison
Vivmark and Essex both use publicly traded multifamily REIT structures. Essex concentrates on selected West Coast markets, while Vivmark operates a larger portfolio spanning a broader group of metropolitan areas.
3) Mid-America Apartment Communities
Investment Model: Publicly traded apartment REIT
Portfolio: 104,698 apartment homes
Geographic Focus: Primarily Southeast, Southwest, and Mid-Atlantic markets
Mid-America Apartment Communities, or MAA, owns interests in 104,698 apartment homes across 16 states and the District of Columbia, including communities under development.
Key Features
Large multifamily portfolio: MAA owns interests in more than 104,000 apartment homes
Regional footprint: Communities span multiple Southern and Southwestern markets
Publicly traded structure: Investors receive company-level exposure through REIT shares
Development activity: MAA develops and redevelops apartment communities
Multifamily focus: Apartment properties form the company's core portfolio
Essex Comparison
MAA and Essex both provide public-market multifamily exposure. MAA's portfolio is concentrated primarily across Southern and Southwestern markets, while Essex focuses on selected West Coast markets.
4) Camden Property Trust
Investment Model: Publicly traded multifamily REIT
Portfolio: 168 properties containing 56,995 apartment homes
Camden Property Trust owns, manages, develops, redevelops, acquires, and constructs multifamily apartment communities across the United States.
Key Features
Multifamily portfolio: Camden operates apartment communities across multiple U.S. markets
Publicly traded structure: Shares provide company-level portfolio exposure
Development capabilities: The company develops and redevelops apartment communities
Integrated operations: Camden manages its communities through its operating platform
Multiple property classes: The portfolio includes different categories of apartment communities
Essex Comparison
Camden and Essex both provide public-market exposure to multifamily residential real estate. Their primary differences are geographic footprint, individual property holdings, and portfolio strategy.
5) Invitation Homes
Investment Model: Publicly traded single-family rental REIT
Property Focus: Single-family rental homes
Geographic Footprint: 16 U.S. metropolitan markets
Invitation Homes owns and manages approximately 80,000 single-family rental homes across 16 metropolitan markets in the United States.
Key Features
Single-family rentals: The portfolio centers on individual rental homes rather than apartment communities
Large residential footprint: Approximately 80,000 homes are owned and managed by the company
Publicly traded structure: Shares provide company-level real estate exposure
Professional management: Residential operations are managed through the company's platform
Multiple markets: Homes are distributed across 16 U.S. metropolitan areas
Essex Comparison
Invitation Homes and Essex both provide publicly traded residential real estate exposure, but their underlying property types differ. Invitation Homes focuses on single-family rental homes, while Essex concentrates on multifamily apartment communities.
6) AMH
Investment Model: Publicly traded single-family rental REIT
Portfolio: Over 61,000 single-family properties
Property Strategy: Existing rental homes and internally developed communities
AMH owns and operates over 61,000 single-family properties and also develops new rental homes through its internal development program.
Key Features
Single-family rental focus: Individual rental houses form the primary operating portfolio
Development program: AMH develops new homes for its rental portfolio
Publicly traded structure: Shares provide company-level real estate exposure
Multiple U.S. regions: Properties span the Southeast, Midwest, Southwest, and Mountain West
Professional operations: The company manages its residential portfolio at institutional scale
Essex Comparison
AMH and Essex both provide publicly traded residential real estate exposure. AMH focuses on single-family homes across multiple regions, while Essex concentrates on multifamily apartment communities in selected West Coast markets.
7) UDR
Investment Model: Publicly traded apartment REIT
Portfolio: 54,173 consolidated apartment homes across 162 communities
Markets: 21 U.S. markets
UDR owns, operates, acquires, renovates, develops, redevelops, and manages multifamily apartment communities across targeted U.S. markets. It also holds interests in additional apartment homes through joint ventures and partnerships.
Key Features
Multifamily portfolio: UDR owns and operates apartment communities
Multiple markets: The consolidated portfolio spans 21 markets
Publicly traded structure: Shares provide company-level real estate exposure
Development activity: UDR develops and redevelops apartment communities
Joint ventures: The company also holds interests in additional residential assets through partnerships
Essex Comparison
UDR and Essex both provide publicly traded multifamily exposure. UDR operates across a wider set of U.S. markets, while Essex maintains its selected West Coast concentration.
8) NexPoint Residential Trust
Investment Model: Publicly traded multifamily REIT
Portfolio: 36 properties containing 13,305 units
Markets: 10 Sun Belt markets
NexPoint Residential Trust focuses on multifamily properties located primarily in Sun Belt markets. Its portfolio strategy includes acquiring, operating, improving, and eventually disposing of multifamily assets.
Key Features
Multifamily focus: Apartment properties form the core portfolio
Sun Belt footprint: Properties span 10 markets
Publicly traded structure: Investors participate through REIT shares
Property improvement strategy: The company makes capital improvements across supported properties
Externally advised structure: NexPoint Real Estate Advisors serves as the external adviser
Essex Comparison
NexPoint and Essex both use publicly traded multifamily REIT structures. NexPoint primarily operates across Sun Belt markets, while Essex focuses on selected West Coast locations.
9) Fundrise
Investment Model: Real estate funds
Liquidity Structure: The Flagship Fund uses quarterly withdrawal windows
Fundrise provides pooled exposure through real estate funds holding multiple private real estate assets. Its Flagship Fund includes more than 4,700 single-family rental homes and more than 3.3 million square feet of industrial facilities.
Key Features
Fund structure: Capital is pooled across multiple underlying assets
Residential exposure: Holdings include single-family rental homes
Industrial exposure: The Flagship Fund also holds industrial facilities
Quarterly withdrawals: The Flagship Fund uses a quarterly withdrawal process
Portfolio-level structure: Investors participate through fund interests rather than selecting individual properties
Essex Comparison
Fundrise and Essex both provide portfolio-level real estate exposure, but their structures differ. Fundrise uses real estate funds holding private real estate assets, while Essex provides exchange-traded exposure through a public multifamily REIT.
10) Arrived
Investment Model: Individual rental properties and real estate funds
Distribution Frequency: Monthly for income-producing individual properties and supported funds
Secondary Market: Monthly trading windows for eligible individual-property shares
Arrived provides individual rental-property offerings alongside pooled real estate funds. Individual properties include single-family rental homes and vacation rentals.
Key Features
Individual-property selection: Investors can select identifiable rental-property offerings
Single-family rentals: Offerings include residential rental homes
Vacation rentals: The platform also provides short-term rental properties
Monthly distributions: Income-producing individual properties use a monthly distribution schedule
Secondary market: Eligible individual-property shares can be listed during scheduled monthly trading windows
Essex Comparison
Arrived provides property-level and fund-based structures, while Essex provides company-level exposure through publicly traded REIT shares.
The property-level structure allows individual offerings to be associated with identifiable residential assets.
Comparing Essex Property Trust Alternatives
The alternatives in this guide use several different residential real estate structures.
Property-specific residential access: mogul and Arrived provide investment structures associated with identifiable residential properties.
Real estate funds: Fundrise pools capital across multiple underlying private real estate assets.
Public apartment REITs: Vivmark, MAA, Camden, UDR, and NexPoint provide company-level exposure to multifamily portfolios across different U.S. markets.
Public single-family rentals: Invitation Homes and AMH provide company-level exposure to large portfolios of single-family rental homes.
These structures differ in how individual properties are selected, how ownership is organized, how distributions are processed, and how real estate operations are managed.
Why mogul Stands Out Among Essex Property Trust Alternatives
When comparing Essex with property-specific residential real estate platforms, mogul combines institutional real estate experience, individual property selection, professional management, monthly income, property-level reporting, investor alignment, and first-year loss protection.
Institutional Real Estate Experience
mogul was founded by former Goldman Sachs real estate professionals with more than $10 billion experience in real estate investing.
Its diligence process includes:
Market and neighborhood research
Property-level underwriting
Acquisition analysis and negotiation
Property inspections
Investment-committee review
Less than 1% of reviewed properties pass the full diligence process.
Property-Specific Selection
mogul members review individual residential properties and select the assets represented in their portfolios.
Each investment is associated with an identifiable property-level structure, giving members direct visibility into the specific residential real estate represented by their interests.
The how it works page explains how property sourcing, underwriting, acquisition, fractionalization, professional management, and ownership work together.
Monthly Income
Once a property is operational and generates distributable net rental income, mogul processes distributions monthly according to property performance and members' ownership interests.
This combines individual property selection with a regular property-level income schedule.
Professional Property Management
Professional management teams coordinate leasing, resident or guest communication, maintenance, and day-to-day property operations.
Members gain property-specific residential exposure while the operational responsibilities associated with managing rental real estate are professionally handled.
Property-Level Reporting
Members can track the individual assets represented in their portfolios, including property performance and applicable ownership information.
This property-specific model gives members ongoing visibility into the residential properties they selected.
Current Platform Scale
mogul has:
$100M+ invested on the platform
50K+ members
600+ units
An 18.8% average annual return, measured as IRR
More than $10 billion in real estate investing experience across the team
Investor Alignment
mogul invests alongside members in every property offered on the platform, placing its own capital alongside member capital.
90% of mogul investors invest a second time, and follow-on investments average approximately 3x the initial investment.
First-Year Loss Protection
Qualifying new members can receive up to $10,000 loss protection for qualifying investments made during their first seven days.
If the combined total return on those qualifying investments is negative after one year, mogul covers eligible losses of up to $10,000 using its own balance-sheet capital, subject to the applicable promotion terms.
Property Analysis Tools
The property analysis tools allow users to analyze U.S. addresses using real estate data and underwriting inputs.
Combined with professional management, institutional underwriting, property-level ownership, and monthly income, these tools support mogul's streamlined approach to residential real estate investing.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Frequently Asked Questions
How does mogul differ from Essex Property Trust?
Essex provides company-level exposure through publicly traded REIT shares representing its broader West Coast multifamily portfolio. mogul provides property-specific residential access, allowing members to select fractional interests associated with individual properties while combining institutional underwriting, professional management, monthly distributions, property-level reporting, and governance rights.
How does mogul provide property-specific access?
mogul allows members to review and select individual residential properties rather than receiving exposure only through a company-wide portfolio. Each investment is associated with an identifiable property-level structure, giving members visibility into the specific assets represented in their portfolios alongside professional management and ongoing property-level reporting.
How are mogul properties selected?
mogul uses an institutional property-selection process informed by more than $10 billion in real estate investing experience across the team. Market research, property-level underwriting, inspections, acquisition analysis, and investment-committee review are part of the process, and Less than 1% of reviewed properties pass the full diligence process.
How are mogul properties managed after investment?
mogul coordinates professional property management for leasing, resident or guest communication, maintenance, and day-to-day property operations. Members receive property-specific ownership exposure and ongoing reporting while professional teams manage the operational responsibilities associated with each property.
What does mogul's first-year loss protection cover?
Qualifying new members can receive up to $10,000 loss protection on qualifying investments made during their first seven days. If the combined total return on those qualifying investments is negative after one year, mogul covers eligible losses of up to $10,000 from its own balance-sheet capital, subject to the applicable promotion terms.