FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * HIPPS CHRISTOPHER M   2. Issuer Name and Ticker or Trading Symbol PRENTISS PROPERTIES TRUST/MD [PP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive Vice President (Last) (First) (Middle) 3890 WEST NORTHWEST HIGHWAY, SUITE 400 3. Date of Earliest Transaction (Month/Day/Year) 07/27/2005 (Street) DALLAS,, TX 752205166 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 07/27/2005   M   10,000 A $ 26.09 10,000 D   Common Shares 07/27/2005   S   10,000 D $ 40.5714 0 D   Common Shares 07/27/2005   M   7,333 A $ 34.2 7,333 D   Common Shares 07/27/2005   S   7,333 D $ 40.5714 0 D   Common Shares of Beneficial Interest(CommonShares) 07/27/2005   M   3,933 A $ 28.1 51,631 D (1)   Common Shares of Beneficial Interest(CommonShares) 07/27/2005   S   3,933 D $ 40.5714 47,698 D   Common Shares of Beneficial Interest(CommonShares) 07/27/2005   A   1,191 A $ 40.5714 48,889 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Options

$ 28.1

07/27/2005

M

3,933

02/28/2003

02/28/2012

Common Shares

3,933

$ 0

0

D

Options

$ 26.09

07/27/2005

M

10,000

03/05/2004

03/05/2013

Common Shares

10,000

$ 0

10,000

D (2)

Options

$ 34.2

07/27/2005

M

7,333

02/23/2005

02/23/2014

Common Shares

7,333

$ 0

14,667

D (3)

Options

$ 34.8

02/03/2006

02/03/2015

Common Shares

20,000

20,000

D (4)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HIPPS CHRISTOPHER M 3890 WEST NORTHWEST HIGHWAY SUITE 400 DALLAS,, TX 752205166			Executive Vice President

Signatures

By: Gregory S. Imhoff (POA on File)		07/28/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	In addition, Mr. Hipps holds indirectly 6,260 shares in the Company's KEYSOP Plan, but has no right to vote or otherwise control these shares.
(2)	Options will become exercisable for one-third of the covered Common Shares on 03/05/04, 03/05/05 and for the balance of the covered Common Shares on 03/05/06.
(3)	Options will become exercisable for one-third of the covered Common Shares on 03/05/04, 03/05/05 and for the balance of the covered Common Shares on 03/05/06.
(4)	Options will become exercisable for one-third of the Common Shares 02/03/06, 02/03/07 and for the balance of the covered Common Shares on 02/03/08.

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