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FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934, Section
17(a) of the Public Utility Holding
Company Act of 1935 or Section 30(f) of
the Investment Company Act of 1940
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OMB Approval
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OMB Number: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response.........0.5
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(Print or Type Responses)
1. Name and Address of Reporting Person*
Westbrook Real Estate Partners Management I, L.L.C.
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(Last) (First) (Middle)
599 Lexington Avenue, Suite 3800
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(Street)
New York New York 10022
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
3/20/98
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Issuer name and Ticker or Trading Symbol
Essex Property Trust, Inc. - ESS
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
-- Director
X 10% Owner (FN1)
-- Officer (give title below)
-- Other (specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing
(Check applicable Line)
X Form Filed by One Reporting Person
Form Filed by More than One Reporting Person
Table I Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
(Instr. 4) Securities Form: Direct Beneficial
Beneficially (D) or Indirect Ownership
Owned (I) (Instr. 5) (Instr. 5)
(Instr. 4)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, SEE Instruction
5(b)(v).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
Table II-- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C> <C> <C> <C> <C>
1. Title of 2. Date Exer- 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of
Derivative cisable and Securities Underlying sion or ship Form Indirect
Security Expiration Derivative Security Exercise of Deriv- Beneficial
(Instr. 4) Date (Instr. 4) Price of ative Ownership
(Month/Day/Year) Deriv- Security: (Instr. 5)
ative Direct (D) or
Security Indirect (I)
(Instr. 5)
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
Date Expira- Title Amount or
Exer- tion Number of
cisable Date Shares
8.75% Convertible 6/20/97 None Common Stock, 457,142 $21.875 per I (FN2) (2)
Preferred Stock, par value share
Series 1996A $0.0001 per
share
8.75% Convertible 9/20/97 None Common Stock, 457,143 $21.875 per I (FN2) (2)
Preferred Stock, par value share
Series 1996A $0.0001 per
share
8.75% Convertible 12/20/97 None Common Stock, 457,143 $21.875 per I (FN2) (2)
Preferred Stock, par value share
Series 1996A $0.0001 per
share
8.75% Convertible 3/20/98 None Common Stock, 457,143 $21.875 per I (FN2) (2)
Preferred Stock, par value share
Series 1996A $0.0001 per
share
</TABLE>
Explanation of Responses: (1) - (2) SEE Attachment A.
WESTBROOK REAL ESTATE PARTNERS MANAGEMENT I, L.L.C.
By:/s/ Patrick K. Fox 3/30/98
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Name: Patrick K. Fox Date
Title: Attorney-in-Fact
FN**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
Note: File three copies of this Form, one of which must be manually signed.
If space insufficient, SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
Page 2 of 3
SEC 1473 (7-97)
<PAGE>
FORM 3 (continued)
Name and Address of Reporting Person: Westbrook Real Estate Partners
Management I, L.L.C.
599 Lexington Avenue, Suite 3800
New York, New York 10022
Date of Event Requiring Statement: 3/20/98
Issuer Name and Ticker symbol: Essex Property Trust, Inc. - ESS
ATTACHMENT A
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(1) Westbrook Real Estate fund I, L.P. ("WREF I"), an affiliate of the
reporting person, is the direct owner of shares of the convertible security
which are convertible into 1,640,349 shares of the registered security (the
"Westbrook Real Estate Co-Investment Partnership I, L.P., an affiliate o
WREF I Conversion Shares"). the reporting person, is the direct owner of
shares of the convertible security which are convertible into 188,221
shares of the registered security (the "WRECIP I Conversion Shares"). The
reporting person may be deemed to have the shared power to vote or direct
the note with respect to, and to dispose or direct the disposition of, the
WREF I Conversion Shares and the WRECIP I Conversion Shares. The reporting
person disclaims beneficial interest in the WREF I Conversion Shares and
the WRECIP I Conversion Shares.
(2) The reporting person is the sole general partner of each of WREF I and
WRECIP I. The reporting person may be deemed to have a pecuniary interest
ranging from 1% to 20% in the WREF I Conversion Shares and the WRECIP I
Conversion Shares. The reporting person disclaims pecuniary interest in and
beneficial ownership of the WREF I Conversion Shares and the WRECIP I
Conversion Shares.
Page 3 of 3
SEC 1473 (7-97)
