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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED
STATES&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;Washington,
D.C. 20549</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
Current Report Pursuant to Section&nbsp;13
or 15(d)&nbsp;of the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
May 26, 2015 (May 20, 2015)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 24pt"><B>ESSEX PROPERTY
TRUST, INC.</B></FONT><B><BR>
<FONT STYLE="font-size: 24pt">ESSEX PORTFOLIO, L.P.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;(Exact Name of Registrant as Specified
in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>001-13106 (Essex Property Trust, Inc.)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>333-44467-01 (Essex Portfolio,
L.P.)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="vertical-align: top; width: 50%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Maryland (Essex Property Trust, Inc.)</b></font></td>
    <TD STYLE="vertical-align: top; width: 50%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>77-0369576 (Essex Property Trust, Inc.)</b></font></td></tr>
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    <TD STYLE="vertical-align: top; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>California (Essex Portfolio, L.P.)</b></font></td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>77-0369575 (Essex Portfolio, L.P.)</b></font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">(State or Other Jurisdiction of Incorporation)</font></td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">(I.R.S. Employer Identification No.)</font></td></tr>
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    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>925 East Meadow Drive, Palo Alto, California
94303</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(650) 494-3700</B><BR>
(Registrant&#146;s telephone number, including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable</B><BR>
(Former name or former address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):</P>

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    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr>
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    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Pre-Commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr>
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    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Pre-Commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 20, 2015, Essex Property Trust, Inc. (the &#147;Company&#148;)
entered into a Terms Agreement (the &#147;Terms Agreement&#148;) with Citigroup Global Markets Inc. (&#147;Citigroup&#148;)
with respect to the issuance and sale (the &#147;Offering&#148;) by the Company of 250,000 shares of common stock (the &#147;Shares&#148;)
to Citigroup as sole underwriter and sole bookrunning manager. The Shares were sold to Citigroup at a price of $222.10 per Share.&nbsp;
The Shares sold in the Offering were registered under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
pursuant to a registration statement on Form&nbsp;S-3 (File No.&nbsp;333-195874). The Offering closed on May 26, 2015.&nbsp; Legal
opinions related to the Shares are filed as Exhibits 5.2 and 8.1 to the registration statement on Form S-3 (File No. 333-195874)
filed by the Company with the Securities and Exchange Commission (the &#147;SEC&#148;) on May 12, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company intends to contribute the approximately $56 million
in net proceeds from its issuance and sale of 250,000 Shares to Essex Portfolio, L.P. (the &#147;Operating Partnership&#148;),
as to which the Company is general partner. Our Operating Partnership intends to subsequently use the net proceeds contributed
by the Company for general corporate purposes, which may include the repayment of indebtedness, funding working capital and certain
external investment activity.&nbsp; Pending application of the net proceeds from the sale of the Shares, such proceeds initially
may be invested in short-term securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Terms Agreement was entered into in connection with the
Amended and Restated Equity Distribution Agreement dated August 28, 2014 (the &#147;Equity Distribution Agreement&#148;), by
and among the Company and Citigroup.&nbsp; Each of the provisions of the Equity Distribution Agreement is incorporated into the
Terms Agreement in its entirety, and is deemed to be part of the Terms Agreement to the same extent as if such provisions had been
set forth in full in the Terms Agreement. Except to the extent set forth in the Terms Agreement, each of the representations and
warranties of the Company set forth in the Equity Distribution Agreement is deemed to have been made at and as of the date of the
Terms Agreement and the time at which the Shares are delivered. The Terms Agreement and the Equity Distribution Agreement contain
customary representations, warranties and agreements of the Company, and customary conditions to closing, indemnification rights,
obligations of the parties and termination provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Citigroup and its affiliates have provided in the past and may
provide from time to time in the future certain commercial banking, financial advisory, investment banking and other services for
the Company and its affiliates in the ordinary course of their business, for which they have received and may continue to receive
customary fees and commissions. In addition, from time to time, Citigroup and its affiliates may effect transactions for their
own account or the account of customers, and hold on behalf of themselves of their customers, long or short positions in our debt
or equity securities or loans, and may do so in the future. Affiliates of Citigroup are lenders under our $1.0 billion unsecured
line of credit facility and proceeds from this offering may be used to repay amounts outstanding under that facility.&nbsp; Because
more than 5% of the proceeds of this offering may be received by affiliates of Citigroup in this Offering, this Offering is being
conducted in compliance with the FINRA Rule 5121, as administered by FINRA. Pursuant to this rule, the appointment of a qualified
independent underwriter is not necessary in connection with this Offering, as the Offering is of a class of securities having a
bona fide public market contemplated by such rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing description is a brief summary of the Terms Agreement
and the Equity Distribution Agreement and does not purport to be a complete statement of the parties&#146; rights and obligations
under the Terms Agreement or the Equity Distribution Agreement. The foregoing description is qualified in its entirety by reference
to the full text of (i)&nbsp;the Terms Agreement, which is filed as Exhibit&nbsp;1.1 to this Current Report on Form&nbsp;8-K and
is incorporated herein by reference and (ii)&nbsp;the Equity Distribution Agreement, the form of which is filed as Exhibit&nbsp;10.2
to the Company&#146;s Current Report on Form&nbsp;8-K filed with the SEC on September 2, 2014, and is hereby incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>ATM
Sales</U>.&nbsp; In addition to its equity distribution agreement with Citigroup, the Company has also entered into equity distribution
agreements with Cantor Fitzgerald &amp; Co, Barclays Capital Inc., BMO Capital
Markets Corp., BNB Paribas Securities Corp., Jefferies, LLC, J.P. Morgan Securities LLC, Liquidnet, Inc., Mitsubishi UFJ Securities
(USA), Inc., and UBS Securities LLC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
these agreements, the Company may from time to time sell shares of common stock into the existing trading market at current market
prices (&#147;ATM Sales&#148;). During the first quarter of 2015 and thereafter
through May 20, 2015, pursuant to such ATM sales, excluding the
Offering described above, the Company sold 962,911 shares of common stock at an
average price of $227.01 per share, for proceeds of $217.1 million, net of fees and commissions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 7.01.&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May&nbsp;20, 2015, the Company issued a press release announcing
the Offering. A copy of the press release is furnished as Exhibit&nbsp;99.1 hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9.01.&nbsp; Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="width: 7%; border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Exhibit&nbsp;No.</b></font></td>
    <td style="width: 1%; text-align: center">&nbsp;</td>
    <td style="width: 92%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Description&nbsp;of&nbsp;Exhibit</b></font></td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">1.1</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Terms Agreement dated as of May 20, 2015, among Essex Property Trust, Inc. and Citigroup Global Markets Inc.</font></td></tr>
<tr style="background-color: white">
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">99.1</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Press release dated May 20, 2015, announcing public offering of shares of common stock.</font></td></tr>
</table>








<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">S<B>IGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Pursuant to the requirements of the Securities
and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Date: May 26, 2015</font></td>
    <td colspan="3" style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif"><b>ESSEX PROPERTY TRUST, INC.</b></font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="3" style="vertical-align: bottom; border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">/s/ Mark J. Mikl</font></td></tr>
<tr>
    <td style="vertical-align: top; width: 51%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 3%"><font style="font: 10pt Times New Roman, Times, Serif">Name:</font></td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 45%"><font style="font: 10pt Times New Roman, Times, Serif">Mark J. Mikl</font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">Title:</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">Senior Vice President</font></td></tr>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Date: May 26, 2015</font></td>
    <td colspan="3" style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif"><b>ESSEX PORTFOLIO, L.P.</b></font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td colspan="3"><font style="font: 10pt Times New Roman, Times, Serif">By:&nbsp;&nbsp; Essex Property Trust, Inc., its General Partner</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="3" style="vertical-align: bottom; border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">/s/ Mark J. Mikl</font></td></tr>
<tr>
    <td style="vertical-align: top; width: 51%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 3%"><font style="font: 10pt Times New Roman, Times, Serif">Name:</font></td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 45%"><font style="font: 10pt Times New Roman, Times, Serif">Mark J. Mikl</font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">Title:</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">Senior Vice President</font></td></tr>
</table>
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 26, 2015 (May 20, 2015)
ESSEX PROPERTY
TRUST, INC.
ESSEX PORTFOLIO, L.P.
(Exact Name of Registrant as Specified
in Its Charter)
001-13106 (Essex Property Trust, Inc.)
333-44467-01 (Essex Portfolio,
L.P.)
(Commission File Number)
Maryland (Essex Property Trust, Inc.)
77-0369576 (Essex Property Trust, Inc.)
California (Essex Portfolio, L.P.)
77-0369575 (Essex Portfolio, L.P.)
(State or Other Jurisdiction of Incorporation)
(I.R.S. Employer Identification No.)
925 East Meadow Drive, Palo Alto, California
94303
(Address of Principal Executive Offices)
(650) 494-3700
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
o
Written Communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-Commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-Commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01.    Entry into a Material Agreement.
On May 20, 2015, Essex Property Trust, Inc. (the "Company")
entered into a Terms Agreement (the "Terms Agreement") with Citigroup Global Markets Inc. ("Citigroup")
with respect to the issuance and sale (the "Offering") by the Company of 250,000 shares of common stock (the "Shares")
to Citigroup as sole underwriter and sole bookrunning manager. The Shares were sold to Citigroup at a price of $222.10 per Share. 
The Shares sold in the Offering were registered under the Securities Act of 1933, as amended (the "Securities Act"),
pursuant to a registration statement on Form S-3 (File No. 333-195874). The Offering closed on May 26, 2015.  Legal
opinions related to the Shares are filed as Exhibits 5.2 and 8.1 to the registration statement on Form S-3 (File No. 333-195874)
filed by the Company with the Securities and Exchange Commission (the "SEC") on May 12, 2014.
The Company intends to contribute the approximately $56 million
in net proceeds from its issuance and sale of 250,000 Shares to Essex Portfolio, L.P. (the "Operating Partnership"),
as to which the Company is general partner. Our Operating Partnership intends to subsequently use the net proceeds contributed
by the Company for general corporate purposes, which may include the repayment of indebtedness, funding working capital and certain
external investment activity.  Pending application of the net proceeds from the sale of the Shares, such proceeds initially
may be invested in short-term securities.
The Terms Agreement was entered into in connection with the
Amended and Restated Equity Distribution Agreement dated August 28, 2014 (the "Equity Distribution Agreement"), by
and among the Company and Citigroup.  Each of the provisions of the Equity Distribution Agreement is incorporated into the
Terms Agreement in its entirety, and is deemed to be part of the Terms Agreement to the same extent as if such provisions had been
set forth in full in the Terms Agreement. Except to the extent set forth in the Terms Agreement, each of the representations and
warranties of the Company set forth in the Equity Distribution Agreement is deemed to have been made at and as of the date of the
Terms Agreement and the time at which the Shares are delivered. The Terms Agreement and the Equity Distribution Agreement contain
customary representations, warranties and agreements of the Company, and customary conditions to closing, indemnification rights,
obligations of the parties and termination provisions.
Citigroup and its affiliates have provided in the past and may
provide from time to time in the future certain commercial banking, financial advisory, investment banking and other services for
the Company and its affiliates in the ordinary course of their business, for which they have received and may continue to receive
customary fees and commissions. In addition, from time to time, Citigroup and its affiliates may effect transactions for their
own account or the account of customers, and hold on behalf of themselves of their customers, long or short positions in our debt
or equity securities or loans, and may do so in the future. Affiliates of Citigroup are lenders under our $1.0 billion unsecured
line of credit facility and proceeds from this offering may be used to repay amounts outstanding under that facility.  Because
more than 5% of the proceeds of this offering may be received by affiliates of Citigroup in this Offering, this Offering is being
conducted in compliance with the FINRA Rule 5121, as administered by FINRA. Pursuant to this rule, the appointment of a qualified
independent underwriter is not necessary in connection with this Offering, as the Offering is of a class of securities having a
bona fide public market contemplated by such rule.
The foregoing description is a brief summary of the Terms Agreement
and the Equity Distribution Agreement and does not purport to be a complete statement of the parties' rights and obligations
under the Terms Agreement or the Equity Distribution Agreement. The foregoing description is qualified in its entirety by reference
to the full text of (i) the Terms Agreement, which is filed as Exhibit 1.1 to this Current Report on Form 8-K and
is incorporated herein by reference and (ii) the Equity Distribution Agreement, the form of which is filed as Exhibit 10.2
to the Company's Current Report on Form 8-K filed with the SEC on September 2, 2014, and is hereby incorporated herein
by reference.
ATM
Sales
.  In addition to its equity distribution agreement with Citigroup, the Company has also entered into equity distribution
agreements with Cantor Fitzgerald & Co, Barclays Capital Inc., BMO Capital
Markets Corp., BNB Paribas Securities Corp., Jefferies, LLC, J.P. Morgan Securities LLC, Liquidnet, Inc., Mitsubishi UFJ Securities
(USA), Inc., and UBS Securities LLC.
Under
these agreements, the Company may from time to time sell shares of common stock into the existing trading market at current market
prices ("ATM Sales"). During the first quarter of 2015 and thereafter
through May 20, 2015, pursuant to such ATM sales, excluding the
Offering described above, the Company sold 962,911 shares of common stock at an
average price of $227.01 per share, for proceeds of $217.1 million, net of fees and commissions.
ITEM 7.01.    Regulation FD Disclosure
On May 20, 2015, the Company issued a press release announcing
the Offering. A copy of the press release is furnished as Exhibit 99.1 hereto.
ITEM 9.01.  Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description of Exhibit
1.1
Terms Agreement dated as of May 20, 2015, among Essex Property Trust, Inc. and Citigroup Global Markets Inc.
99.1
Press release dated May 20, 2015, announcing public offering of shares of common stock.
S
IGNATURES
Pursuant to the requirements of the Securities
and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Date: May 26, 2015
ESSEX PROPERTY TRUST, INC.
/s/ Mark J. Mikl
Name:
Mark J. Mikl
Title:
Senior Vice President
Date: May 26, 2015
ESSEX PORTFOLIO, L.P.
By:   Essex Property Trust, Inc., its General Partner
/s/ Mark J. Mikl
Name:
Mark J. Mikl
Title:
Senior Vice President