8-KOther Events

ESSEX PROPERTY TRUST, INC. 8-K Report (Sep 19, 2003)

Filed September 19, 2003For Securities:ESS

Summary

Essex Property Trust, Inc. (ESS) has announced the sale of 1,000,000 shares of its 7.8125% Series F Cumulative Redeemable Preferred Stock. This offering, with a liquidation preference of $25.00 per share, was conducted through a Stock Purchase Agreement with Lend Lease Rosen Real Estate Securities, LLC, acting as agent for its clients. The newly issued Series F Preferred Stock has received approval for listing on the Pacific Exchange under the ticker symbol "ESS-F," indicating increased liquidity and accessibility for investors interested in this specific security.

Key Highlights

  • 1Issuance of 1,000,000 shares of 7.8125% Series F Cumulative Redeemable Preferred Stock.
  • 2Liquidation preference of $25.00 per share for the Series F Preferred Stock.
  • 3Entered into a Stock Purchase Agreement with Lend Lease Rosen Real Estate Securities, LLC for the sale.
  • 4Series F Preferred Stock approved for listing on the Pacific Exchange under the symbol "ESS-F."
  • 5Press release issued on September 18, 2003, to announce the stock issuance.
  • 6This filing is an 8-K Current Report, indicating material events.
  • 7Filing includes supporting documentation such as the purchase agreement and legal opinions.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report a significant corporate event: the sale of 1,000,000 shares of Essex Property Trust's new Series F Cumulative Redeemable Preferred Stock. This includes the details of the agreement for the sale and the planned listing of the new stock.

The Series F Cumulative Redeemable Preferred Stock has a fixed dividend rate of 7.8125% and a liquidation preference of $25.00 per share. This means that in the event of liquidation, holders are entitled to receive $25.00 per share before any distribution to common stockholders.

The Series F Cumulative Redeemable Preferred Stock has been approved for listing on the Pacific Exchange. Investors can expect to trade these shares under the ticker symbol "ESS-F."

Lend Lease Rosen Real Estate Securities, LLC is acting as the agent for its clients in purchasing the 1,000,000 shares of Series F Preferred Stock from Essex Property Trust. They are the counterparty to the Stock Purchase Agreement.