Who owns Wesco I, Wesco III, Wesco IV, Wesco V and Wesco VI (combined co-investment group)

Wesco I, Wesco III, Wesco IV, Wesco V and Wesco VI (combined co-investment group) - Profile

The Wesco entities are a numbered series of programmatic joint ventures through which Essex Property Trust and the State of Wisconsin Investment Board have bought and held West Coast apartment communities since 2011, when Wesco I, LLC was set up with a 200 million dollar combined equity commitment and moderate leverage to acquire properties that both partners approve. Each successive vehicle repeats the pattern in the markets Essex operates in itself: Southern California (Los Angeles, Fullerton, Oxnard, Valencia and Woodland Hills), the San Francisco Bay Area (Emeryville, Fremont, Mountain View, San Jose and Santa Clara) and the Seattle metro (Redmond, Mill Creek, Lynnwood and Seattle), holding communities such as Pacific Electric Lofts, Riley Square, The Courtyards at 65th Street and Monterra in Mill Creek. Essex manages the properties and earns asset management, property management and development fees plus a promote if returns clear agreed hurdles, while the Wisconsin pension money supplies matching equity. Wesco VI, formed in 2021, carried 150 million dollars from each partner and about 660 million dollars of buying power.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Essex Property Trust, Inc.. Essex's 30 Jun 2026 10-Q (Note 4, Co-investments) reports a single combined line for five joint ventures, 'Wesco I, Wesco III, Wesco IV, Wesco V and Wesco VI', at a 55% weighted average Company ownership percentage and a combined carrying value of $68,998,000 (30 Jun 2026) / $73,002,000 (31 Dec 2025), in thousands as stated in the filing and converted here to whole dollars. These are real-estate joint ventures that own, operate and develop apartment home communities, not stakes in an operating company; equity-method accounted. The filing does not disaggregate the $68,998,000 by individual Wesco entity, so per the brief's rule against assigning a combined balance to one investee, value_usd is null here and the combined figure is recorded in notes/unknowns instead, exactly as this project's Extra Space and AvalonBay files handled analogous buckets. One data point about an individual fund inside this bucket IS separately disclosed elsewhere in the same 10-Q: Wesco V is specifically stated to be a joint venture in which the Company owns a 50.0% interest (not 55%), so the group's 55% weighted average masks per-fund variation; in June 2026 Wesco V sold one of its apartment communities, Meridian at Midtown, for a total contract price of $105.3 million, repaying a related $59.5 million bridge loan Essex had made to Wesco V and recording a $9.2 million gain to Essex's equity income from co-investments. No individual ownership percentage or carrying value is disclosed for Wesco I, III, IV or VI. Footnote (2) to the Note 4 table also states that as of 30 Jun 2026 the Company's investments in Wesco I, Wesco III, Wesco IV, Expo and Silver (Expo and Silver belong to the separate 'Other' bucket below, not this one) were in a net LIABILITY position of $107.9 million due to distributions received in excess of investment; this liability is not part of the $68,998,000 asset-side figure above. source