Form 8-K · Current report
Essex Property Trust 8-K, filed Sep 25, 2026
- Filed
- CIK
- 0000920522
- Accession no.
- 0000920522-26-000027
Summary
Essex Property Trust, through Essex Portfolio, L.P., entered a $275 million unsecured term loan agreement with Bank of America, N.A., as administrative agent, and other lenders; the loan matures on September 24, 2029, with two one-year extension options and bears interest at SOFR plus 0.800%. The borrowers may increase the facility by up to $225 million to $500 million if lenders agree, and expect to use proceeds to repay commercial paper indebtedness and for other general corporate purposes.
Key points
- The term loan matures on September 24, 2029, with two one-year extension options exercisable by Essex Portfolio, L.P.
- The interest rate is SOFR plus 0.800% at closing, based on a tiered rate structure tied to the Operating Partnership's long-term unsecured credit ratings.
- The facility may be increased by up to $225 million, to an aggregate $500 million, if one or more banks voluntarily agree to provide the additional commitment.
- Proceeds are expected to repay outstanding commercial paper indebtedness and for other general corporate purposes.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
From the filing
Item 1.01. Entry into a Material Definitive Agreement. Term Loan Agreement On September 24, 2026, Essex Property Trust, Inc. (the “Company”), via Essex Portfolio, L.P. (the “Operating Partnership”), entered into a $275 million Unsecured Term Loan Agreement (the “Term Loan Agreement”) with Bank of America, N.A., as administrative agent, and other lenders party thereto (the “Lenders”), and the Company entered into the guarantee of such Term Loan Agreement. The term loan under the Term Loan Agreement is scheduled to mature on September 24, 2029, with two one-year extension options, exercisable at the option of the Operating Partnership. …
An excerpt of the text as filed with the SEC, cut for length.
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