Essex Announces Changes to Its Board of Directors
| Source: Essex Property Trust, Inc.
PALO ALTO, CA--(Marketwire - February 27, 2009) - Essex Property Trust, Inc. (NYSE : ESS ), a
real estate investment trust (REIT) with apartment communities located in
targeted West Coast markets, announced today that William A. Millichap will
be retiring from the Company's Board of Directors immediately following the
annual meeting of shareholders to be held on May 5, 2009.
Mr. Millichap has assisted in the management of the Company since the
inception of Essex Property Corporation in 1971 and has served on the Board
of Directors since the initial public offering in 1994. Mr. Millichap is
currently the Chairman of Marcus and Millichap Real Estate Brokerage
Company.
"William Millichap has been instrumental to our success over the past
thirty years dating back to the time Essex was privately held. We have
greatly benefited from his real estate expertise and his business acumen
that has guided many investment decisions over the years. His contributions
to the board will be missed and we wish him the best in all his future
endeavors," stated George Marcus, Chairman and Founder of Essex Property
Trust, Inc.
The Board of Directors has decided not to replace the position that will be
vacated by Mr. Millichap, thereby reducing the size of the Board to nine
members.
Essex Property Trust, Inc., located in Palo Alto, California and traded on
the New York Stock Exchange (ESS), is a fully integrated real estate
investment trust (REIT) that acquires, develops, redevelops, and apartment
communities in selected West Coast communities. Essex currently has
ownership interests in 132 apartment communities 26,862 units, and has
1,256 units in various stages of active development. Additional
information about Essex can be found on the Company's web site at
www.essexpropertytrust.com. If you would like to receive future press
releases via e-mail-please send a request to
investors@essexpropertytrust.com.