Essex Reports Q4 FFO of $1.31 vs. $1.35

Essex Property Trust, Inc.

announces its fourth quarter 2010 earnings results and related business activities. Funds from Operations for the quarter ended December 31, 2010, totaled $43.0 million or $1.31 per diluted share compared to $35.8 million, or $1.16 per diluted share for the quarter ended December 31, 2009. The Company's FFO, excluding non-core items, totaled $42.0 million, or $1.28 per diluted share for the quarter ended December 31, 2010, which is an increase of 5.5% compared to $37.3 million or $1.21 per diluted share for the quarter ended December 31, 2009. Net income available to common stockholders for the quarter ended December 31, 2010 totaled $4.8 million or $0.16 per diluted share compared to $6.8 million, or $0.24 per diluted share for the quarter ended December 31, 2009, respectively.