Essex Property Trust, Inc. (Essex) operates as a self-administered and self-managed real estate investment trust (REIT). The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of real estate. The Company owns all of its interest in its real estate investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is the sole general partner of the Operating Partnership and as of December 31, 2008 owns a 91.6% general partnership interest. The majority of its real estate consists of apartment communities. As of December 31, 2008, Essex owned or held an interest in 134 apartment communities, aggregating 26,992 units, located predominantly along the West Coast (collectively, the Properties). Its other properties included six office buildings (totaling approximately 478,300 square feet), and six active development projects with 1,256 units in various stages of active development.