Who owns Wesco VII, LLC

Wesco VII, LLC - Profile

Wesco VII is the seventh in the series of joint ventures between Essex Property Trust and the State of Wisconsin Investment Board, formed in July 2025 with an initial equity commitment of 50 million dollars from each partner, split evenly between them. Unlike the earlier Wesco vehicles, which bought and held finished apartment communities outright, this one is aimed at structured finance: its first deal was a 42.6 million dollar preferred equity investment in a 480 unit apartment development in South San Francisco, California, carrying an initial preferred return of 13.5 percent that can be adjusted on specified events and mandatory redemption in July 2030. The venture sits in Essex's co-investment portfolio, where Essex sources the deals and may earn management fees and a promote.

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 footnote (3) to the Note 4 carrying-value table states the $192,872,000 'Total preferred equity co-investments' balance 'Includes one preferred equity investment held with Wesco VII, LLC'; the Subsequent Events section separately states: 'Subsequent to quarter end, Wesco VII, LLC ("Wesco VII"), a joint venture in which the Company owns a 50% interest, funded preferred equity investments totaling $36.2 million in two stabilized apartment home communities located in Southern California. The investments have an initial preferred return of 11.5%.' Both the pre-existing preferred equity position (as of 30 Jun 2026, size undisclosed) and the $36.2 million of NEW preferred equity Wesco VII funded after quarter end (before the 10-Q was filed 30 Jul 2026, exact date not given) are equity-method / preferred-equity instruments in a real-estate joint venture, not common ownership of an operating company. The pre-existing Wesco VII component of the $192,872,000 combined 'Total preferred equity co-investments' balance is not disaggregated from the rest of that total (which also covers the MMC-affiliated related-party preferred equity investments described in separate rows below and other unnamed preferred equity/loan investments), so per the brief's rule against assigning a combined balance to one investee, value_usd is left null rather than using either the undisaggregated total or the imprecisely-dated $36.2 million subsequent funding figure. source