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Essex Property Trust Announces Tax Status of BRE Properties, Inc. 2014 Dividends


May 2, 2014 - Palo Alto, CA

Essex Property Trust, Inc. (NYSE: ESS) today announced the 2014 dividend tax status of BRE Properties Inc. (NYSE: BRE) pre-merger distributions to shareholders. The 2014 distribution classifications are:



2014 Dividend Tax Status

Common Shares Distribution (CUSIP 05564E106):
-----------------------------------------------------------------
Cash Taxable
Record Payment Distribution Ordinary Qualifying
Date Date Per Share Dividend Dividend
---------- ------------ ------------- ------------- -------------
3/14/2014 3/31/2014 $0.395000 $0.079910
3/31/2014 4/9/2014 $5.150000 $1.041845
------------ ------------- ------------- -------------
Total: $5.545000 $1.121755 $0.000000
------------ ------------- ------------- -------------
Percentage: 100% 20% 0%
------------ ------------- ------------- -------------

Series D Preferred Distribution (CUSIP 05564E601):
-----------------------------------------------------------------
Cash Taxable
Record Distribution Ordinary Qualifying
Date Payment Date Per Share Dividend Dividend
---------- ------------ ------------- ------------- -------------
2/20/2014 2/20/2014 $0.234380 $0.055150
------------ ------------- ------------- -------------
Total: $0.234380 $0.055150 $0.000000
------------ ------------- ------------- -------------
Percentage: 100% 24% 0%
------------ ------------- ------------- -------------


Common Shares Distribution (CUSIP 05564E106):
----------------------- ------------- ------------------ ------------
Record Payment Long- Term Unrecaptured Return of
Date Date Capital Gain Section 1250 Gain Capital
---------- ------------ ------------- ------------------ ------------
3/14/2014 3/31/2014 $0.196830 $0.062840 $0.055420
3/31/2014 4/9/2014 $2.566245 $0.819365 $0.722545
------------ ------------- ------------------ ------------
Total: $2.763075 $0.882205 $0.777965
------------ ------------- ------------------ ------------
Percentage: 50% 16% 14%
------------ ------------- ------------------ ------------

Series D Preferred Distribution (CUSIP 05564E601):
----------------------- ------------- ------------------ ------------
Record Long- Term Unrecaptured Return of
Date Payment Date Capital Gain Section 1250 Gain Capital
---------- ------------ ------------- ------------------ ------------
2/20/2014 2/20/2014 $0.135850 $0.043380
------------ ------------- ------------------ ------------
Total: $0.135850 $0.043380 $0.000000
------------ ------------- ------------------ ------------
Percentage: 58% 19% 0%
------------ ------------- ------------------ ------------

Wells Fargo Shareowner Services will distribute copies of IRS Form 1099-DIV in January of 2015 to 2014 shareholders of record of BRE's common and preferred stock. Shareholders who held BRE's stock in "street name" during 2014 will receive the form from their bank, brokerage or nominee. BRE shareholders should consult a tax professional to determine how distributions should be reported on state and federal tax forms.

About Essex Property Trust
Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 233 apartment communities with an additional 15 properties in various stages of active development. Additional information about Essex can be found on the Company's web site at www.essexpropertytrust.com.

Contact Information
Barb Pak
Director of Investor Relations
(650) 494-3700
bpak@essex.com

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