Large and small businesses are booming successfully in California, and one of the most dynamic industries in California is real estate. The reason California was titled the “Best State To Invest In Real Estate In 2018” was because of the minimum requirements and maximum growth opportunities that the state has to offer in the real estate sector. Large scale and small scale businesses are successfully expanding at their own pace, taking one step at a time and paving the road to success.
ESSEX PROPERTY TRUST INC.
Essex Property Trust Inc. is a real estate agency that was founded in 1971 by George M. Marcus. The company’s headquarters are based in San Mateo, California. In 1994, Essex Property became public property through an initial public offering. Since then, the company has built an exceptional reputation specializing in acquiring, developing, redeveloping, and managing multifamily residential properties in select West Coast markets. The number of employees recorded in 2017 was about 1,835, and as of December 31, 2019, Essex owns interests in 250 apartment complexes that aggregates 60,570 apartment units, and one office building comprising 106,716 square feet.
Raj Properties is a small-scale business with about 50-100 full-time and part-time employees, specializing in Real Estate and Property Management. Its services include renting residential and commercial units. The firm was founded in California in 1992 by Jhansi Reddy and her husband, Dr. Rajender Reddy. It started off with 32 apartment units in Berkeley, California. During the initial phase of the business, Jhansi and Rajender hired Reddy Realty, a well-known property management firm in the area, to manage their properties. During this time, Jhansi Reddy overlooked the administrative wing and the properties were completely managed by Reddy Realty. In 1996, five years later, Jhansi and Rajender resumed management of their own properties and have never looked back since. As of today, the business has expanded to more than 1000 apartment units and other rental spaces across Northern and Central California.
FIRST AMERICAN TITLE
First American Title was founded in 1889 in Orange County, California when the county split off from L.A. County. At the time, only two real estate firms were working to provide facilities to residents. Five years later, C.E Parker merged the two firms and founded a single company, Orange County Title Company. The first 70 years for the company were modest but steady. By 1924, Orange County Title Company emerged as one of the first abstract companies in California to qualify to issue policies of title insurance. 1984 brought DP Kennedy, the founder’s grandson, who worked to expand the company’s roots beyond the O.C. In 1963, he was named the President of the company after the company had successfully started operating in four states, and was renamed as First Title American Company. Today, the company offers its services across the United States and abroad, and is headquartered in Santa Ana, California.
AMERICAN HOMES 4 RENT
American Homes 4 Rent is a real estate business that was founded in 2012 by B. Wayne Hughes, the founder of Public Storage. The company is based in Agoura Hills, California, and became public in 2013. It heavily invests in single-family homes. The company’s earliest funding traces back to a $600 million investment from the Alaska Permanent Fund. As of December 2019, American Homes 4 Rent owns 52,552 homes across 22 states in the U.S. Its largest concentrations are in Atlanta (9.3% of total homes), Charlotte, North Carolina (7.2% of total homes) Dallas-Fort Worth (8.4% of total homes).