8-KOther EventsExhibits & Filings

ESSEX PROPERTY TRUST, INC. 8-K Report, Corporate Update (Apr 13, 2005)

Filed April 13, 2005For Securities:ESS

Summary

Essex Property Trust, Inc. (ESS) filed an 8-K on April 13, 2005, primarily to report the sale of ownership interests in Coronado at Newport South. This divestiture involved both the company and its Essex Apartment Value Fund (Fund I). The transaction's details are further elaborated in a press release dated April 12, 2005, which is attached as an exhibit to this filing. For investors, this filing signifies a portfolio management decision, indicating a shift in asset allocation. The sale of Coronado at Newport South may reflect a strategy to optimize the portfolio, potentially by exiting a specific asset or market, or to generate capital for new investments or debt reduction. Investors should examine the accompanying press release for more context on the strategic rationale and financial implications of this sale.

Key Highlights

  • 1Essex Property Trust, Inc. and Essex Apartment Value Fund (Fund I) sold their ownership interests in Coronado at Newport South.
  • 2The event date reported is December 17, 2004, although the 8-K filing date is April 13, 2005.
  • 3The sale is disclosed under Item 8.01 (Other Events).
  • 4A press release dated April 12, 2005, contains further details and is incorporated by reference.
  • 5The press release is provided as Exhibit 99.1 to the 8-K filing.
  • 6Michael J. Schall, Senior Executive Vice President & Chief Financial Officer, signed the report.

Frequently Asked Questions

The main event reported is the sale of ownership interests in Coronado at Newport South by Essex Property Trust, Inc. and its Essex Apartment Value Fund (Fund I).

The earliest event reported, the sale, is dated December 17, 2004, though the press release announcing it was dated April 12, 2005, and the 8-K was filed on April 13, 2005.

More details about the sale can be found in the press release issued by Essex Property Trust, Inc. dated April 12, 2005, which is attached as Exhibit 99.1 to this Form 8-K filing.

This filing itself does not provide financial performance details of the sale. Investors should refer to the accompanying press release and future financial reports for information on the financial impact of this divestiture.