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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Essex Property Trust, Inc.
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(Name of Issuer)
Common Stock
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(Title of class of securities)
297178105
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(CUSIP number)
Check the following box if a fee is being paid with this statement /x / (A
fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13d-7).
The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the notes).
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CUSIP No. 297178105 13G Page 2 of 8 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley, Dean Witter, Discover & Co.
IRS #39-314-5972
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
The State of organization is Delaware
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5 SOLE VOTING POWER
0
NUMBER OF ------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 1,559,200
OWNED BY ------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH ------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,661,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,661,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.20%
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12 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 297178105 13G Page 3 of 8 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley Asset Management Inc.
IRS #13-304-0307
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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5 SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 1,064,200
OWNED BY ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,166,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,166,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.57%
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12 TYPE OF REPORTING PERSON*
IA,CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 297178105 13G Page 4 of 8 Pages
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Item 1 (a) Name of Issuer
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Essex Property Trust, Inc.
Item 1 (b) Address of issuer's principal executive offices
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777 California Avenue
Palo Alto, California 94304
Item 2 (a) Name of person filing
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(a) Morgan Stanley, Dean Witter, Discover & Co.
(b) Morgan Stanley Asset Management Inc.
Item 2 (b) Principal business office
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(a) 1585 Broadway
New York, New York 10036
(b) 1221 Avenue of the Americas
New York, New York 10020
Item 2 (c) Citizenship
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Incorporated by reference to Item 4 of the cover
page pertaining to each reporting person.
Item 2 (d) Title of class of Securities
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Common Stock
Item 2 (e) Cusip No.
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297178105
Item 3 (a) Morgan Stanley, Dean Witter, Discover & Co. is
- ----------- (e) an Investment Adviser registered under
section 203 of the Investment Advisers Act of 1940.
(b) Morgan Stanley Asset Management Inc. is (e) an
Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
Item 4 Ownership
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Incorporated by reference to Items (5)-(9) and (11)
of the cover page.
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CUSIP No. 297178105 13G Page 5 of 8 Pages
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Item 5 Ownership of 5 Percent or Less of a Class
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Inapplicable
Item 6 Ownership of More than 5 Percent on Behalf of Another
- ----------- Person
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Accounts managed on a discretionary basis by Morgan
Stanley Asset Management Inc., a wholly owned subsidiary
of Morgan Stanley, Dean Witter, Discover & Co., are known
to have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from, the sale
of such securities. No such account holds more than 5
percent of the class.
Item 7 Identification and Classification of the Subsidiary Which
- ---------- Acquired the Security Being Reported on By the Parent
Holding Company
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Inapplicable
Item 8 Identification and Classification of Members of the Group
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Inapplicable
Item 9 Notice of Dissolution of Group
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Inapplicable
Item 10 Certification
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By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were acquired in the ordinary course of business and were
not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of
such securities and were not acquired in connection with
or as a participant in any transaction having such purpose
or effect.
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CUSIP No. 297178105 13G Page 6 of 8 Pages
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After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in
this statement is true, complete and correct.
Date: October 10, 1997
Signature: /s/ DONALD P. RYAN
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Name/Title: Donald P. Ryan/Vice president
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MORGAN STANLEY ASSET MANAGEMENT INC.
Date: October 10, 1997
Signature: /s/ BRUCE BROMBERG
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Name/Title: Bruce Bromberg/Morgan Stanley & Co. Incorporated
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MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
INDEX TO EXHIBITS PAGE
----------------- ----
EXHIBIT 1 Agreement to Make a Joint Filing 7
EXHIBIT 2 Secretary's Certificate Authorizing Bruce Bromberg 8
to Sign on behalf of Morgan Stanley, Dean Witter,
Discover & Co.
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CUSIP No. 297178105 13G Page 7 of 8 Pages
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EXHIBIT 1 TO SCHEDULE 13G
October 10, 1997
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.and MORGAN STANLEY ASSET
MANAGEMENT INC., hereby agree that, unless differentiated, this Schedule
13G is filed on behalf of each of the parties.
MORGAN STANLEY ASSET MANAGEMENT INC.
BY: /s/ DONALD P. RYAN
------------------------------------------------------------------------
Donald P. Ryan/Vice President
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
BY: /s/ BRUCE BROMBERG
------------------------------------------------------------------------
Bruce Bromberg/Morgan Stanley & Co., Incorporated
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PAGE 8 OF 8
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant Secretary of
Morgan Stanley, Dean Witter, Discover & Co., a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), certify
that, as approved by a Unanimous Consent of Directors in Lieu of a Meeting dated
as of May 31, 1997, the following persons are each authorized to sign reports to
be filed under Sections 13 and 16 of the Securities Exchange Act of 1934 on
behalf of the Corporation, and such authorizations are in full force and effect
as of this date:
Stuart J. M. Breslow
Robert G. Koppenol
Bruce Bromberg
Robin Sherak
IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal of the
Corporation as of the 3rd day of June, 1997.
/s/ CHARLENE R. HERZER
-----------------------------
CHARLENE R. HERZER
ASSISTANT SECRETARY
[SEAL]
