Using a mask on an adjustment layer to affect multiple tracks below it. Possible?

The easiest way to do the same thing to a lot of clips is to highlight the chosen clips, right click and choose "Nest" which will make a nested sequence that you can treat as one clip. You can even cut and move that clip around. Sometimes I will lay all my footage out that will need to have the same effects into a double nested sequence that I then cut up the first sequence nest. At the end of the edit, I can click past the first nest to the one long nest of everything and adjust all of the effects as one long clip. If there is a better way please tell me, but hopefully, it helps people looking for a solution here. 

Although 2+ years late, you can achieve this using the Track Matte effect (just like in AE):

1. Add an adjustment layer above the layers you want masked. 

2. Add your mask to the adjustment layer.

3. Add "Track Matte" effect to the layers below the adjustment.

4. In the Effects Controls panel, in the "Matte:" dropdown, select the video track that contains your adjustment layer (and subsequently your mask).

This should apply the mask of the adjustment layer to all the tracks below that you added the Track Matte effect to. Hope this helps someone who stumbles across this old thread, like me!

Yes... you can mask effects applied to an Ajustment Layer and the masked effect applies to the multiple layers/tracks underneath.

If you want to mask and apply Motion, Scale and/or Opacity properties then add the Video effects > Distort > 'Transform' effect, and add and adjust the mask on the Transform effect as needed.

And to clarify this is a Premiere Pro ask, not After Effects. Maybe this is an AE only feature, so just curious if it can be done in Premiere. Sure would be nice if it could.