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 predominantly apartment communities. As of December 31, 2010, the Company owned or held an interest in 147 apartment communities, aggregating 30,072 units, located along the West Coast, as well as five commercial buildings (totaling approximately 215,840 square feet), and two active development projects with 436 units in various stages of development . During the year ended December 31, 2010, the Company acquired Essex Skyline at MacArthur Place, a new 349-unit high rise condominium project that is operated as an apartment community, located in Santa Ana, California; Eagle Rim, a 156-unit community located in Redmond, Washington, and 101 San Fernando. In September 2011, the Company acquired two apartment communities.