PALO ALTO, CA--(Marketwired - Apr 3, 2013) - Essex Property Trust, Inc. (NYSE: [ ESS ]) today announced that its operating partnership subsidiary, Essex Portfolio, L.P., has commenced an exchange offer for its outstanding unregistered 3.625% Senior Notes due 2022. These notes were originally issued on August 15, 2012 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, in an aggregate principal amount of $300,000,000. Holders of these notes may exchange them for an equal principal amount of a new issue of 3.625% Senior Notes due 2022 pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission. The terms of the new series of notes are substantially identical to the original notes, except for transfer restrictions and registration rights relating to the original notes.

The exchange offer will expire at 5:00 p.m. eastern time on Tuesday, April 30, 2013, unless extended. Tenders of the original notes must be made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires.

Documents describing the terms of the exchange offer, including the prospectus and transmittal materials for making tenders, can be obtained from the exchange agent, U.S. Bank National Association, West Side Flats Operations Center, 60 Livingston Avenue, St. Paul, MN 55107, Attn.: Specialized Finance (Essex), telephone: (800) 934-6802.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of such securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. The exchange offer is being made only by means of a written prospectus.

About Essex Property Trust, Inc.

Essex Property Trust, Inc., an S&P 400 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages apartment communities located in highly desirable, supply-constrained markets. Essex currently has ownership interests in 165 multifamily properties with an additional 9 properties in various stages of development. Additional information about Essex can be found on the Company's web site at [ www.essexpropertytrust.com ].