8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): March 31, 2013

ESSEX PROPERTY TRUST, INC.

(Exact Name of Registrant as Specified in its Charter)

001-13106 (Essex Property Trust, Inc.)

 (Commission File Number)

Maryland	77-0369576
(State or Other Jurisdiction of Incorporation)	(I.R.S. Employer Identification No.)

925 East Meadow Drive, Palo Alto, California 94303

(Address of principal executive offices) (Zip Code)

(650) 494-3700

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o re-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

On May 1, 2013, Essex Property Trust, Inc. (the “Company”) issued a press release announcing the Company’s earnings for the quarter ended March 31, 2013. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein in its entirety.

The information in this report (including Exhibits 99.1 and 99.2) is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.

(a)- (b) Not applicable.

(c) Exhibits.

The exhibits listed below are being furnished with this Form 8-K.

99.1  Press Release issued by Essex Property Trust, Inc. dated May 1, 2013

99.2  Supplemental Information

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  May 1, 2013
	ESSEX PROPERTY TRUST, INC.
	/s/ Michael T. Dance
	Name: Michael T. Dance
	Title: Executive Vice President & Chief Financial Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release issued by Essex Property Trust, Inc. dated May 1, 2013
99.2	Supplemental Information

EX-99.1

EXHIBIT 99.1

Essex Announces First Quarter 2013 Results

Core Funds from Operations per Diluted Share for the First Quarter Increased ­­14.0%

Palo Alto, California—May 1, 2013—Essex Property Trust, Inc. (NYSE:ESS) announced today its first quarter 2013 earnings results and related business activities.

Funds from Operations (“FFO”) and net income for the quarter ended March 31, 2013 are detailed below. Core FFO excludes acquisition costs and non-recurring items.

	Quarter Ended
	March 31,				%
Earnings (in millions)	2013		2012		change
Total FFO	$	77.4	$	59.5		30.1	%
Core FFO	$	73.2	$	59.6		22.8	%
Net Income	$	25.2	$	22.7		10.9	%
Per Diluted Share
Total FFO	$	1.97	$	1.63		20.8	%
Core FFO	$	1.87	$	1.64		14.0	%
Earnings per Share	$	0.68	$	0.67		1.5	%

First Quarter Highlights:

· Core FFO per diluted share grew 14.0% compared to Q1 2012.

· Same-property gross revenues and net operating income (“NOI”) grew 5.9% and 6.1%, respectively, compared to Q1 2012.

· Achieved a 1.1% sequential increase in quarterly gross revenues and 2.6% sequential increase in net operating income (“NOI”) for the same-property portfolio.

· Acquired three communities for an aggregate investment of $176.2 million, comprised of 534 units.

· Increased the dividend 10% to an annual rate of $4.84 per share.

· Completed the lease-up of the 275 unit Expo development and Epic phase I is expected to begin its lease-up on time.

· Core FFO guidance range for Q2 2013 is $1.79 to $1.87 per diluted share which incorporates recent financing and investment transactions.

· 2013 guidance for same-property revenues, operating expenses, NOI and FFO are reaffirmed from the January 31, 2013 press release.

Michael J. Schall, President and Chief Executive Officer of the Company, commented,  “We are pleased with our strong operating results for the first quarter of 2013, having achieved the high-end of our Core FFO guidance range established last quarter.  We attribute this result to the strong performance of our apartment portfolio, which we expect to continue throughout 2013.  Our core markets of coastal California and Seattle continue to produce strong operating metrics for apartments, including leading job growth, limited housing construction, and improving rental affordability that results from the dramatic increases, from 15% to 35% year-over-year, in for-sale home prices.”

925 East Meadow Drive Palo Alto California 94303 telephone 650 494 3700 facsimile 650 494 8743

www.essexpropertytrust.com

Same-Property Operations

Same-property operating results exclude properties that are not comparable for the periods presented.  The table below illustrates the percentage change in same-property gross revenues for the quarter ended March 31, 2013 compared to the quarter ended March 31, 2012, and the sequential percentage change for the quarter ended March 31, 2013 versus the quarter ended December 31, 2012 by submarket for the Company:

	Q1 2013 vs. Q1 2012			Q1 2013 vs. Q4 2012			% of Total
	Gross Revenues			Gross Revenues			Q1 2013 Revenues
Southern California
Los Angeles County		5.0	%		1.0	%		20.2	%
Ventura County		3.6	%		1.0	%		9.7	%
Orange County		4.0	%		1.0	%		9.3	%
San Diego County		2.4	%		0.1	%		6.4	%
Other Southern California		5.3	%		3.6	%		1.9	%
Total Southern California		4.1	%		1.0	%		47.5	%
Northern California
Santa Clara County		8.9	%		1.7	%		16.6	%
Contra Costa County		4.5	%		-0.4	%		6.7	%
Alameda County		6.8	%		1.4	%		5.9	%
Other Northern California		9.3	%		1.3	%		5.4	%
Total Northern California		7.7	%		1.2	%		34.6	%
Seattle Metro		6.9	%		1.0	%		17.9	%
Same-property portfolio		5.9	%		1.1	%		100.0	%

The table below illustrates the percentage change in same-property gross revenues, operating expenses, and NOI for the quarter ended March 31, 2013 compared to the quarter ended March 31, 2012:

	Q1 2013 compared to Q1 2012
	Gross Revenues			Operating Expenses			NOI
Southern California		4.1	%		4.3	%		4.1	%
Northern California		7.7	%		5.6	%		8.7	%
Seattle Metro		6.9	%		7.4	%		6.6	%
Same-property portfolio		5.9	%		5.3	%		6.1	%

- 2 -

The table below illustrates the sequential percentage change in same-property gross revenues, operating expenses, and NOI for the quarter ended March 31, 2013 versus the quarter ended December 31, 2012:

	Q1 2013 compared to Q4 2012
	Gross Revenues			Operating Expenses			NOI
Southern California		1.0	%		-2.9	%		2.9	%
Northern California		1.2	%		-0.9	%		2.1	%
Seattle Metro		1.0	%		-2.2	%		2.7	%
Same-property portfolio		1.1	%		-2.1	%		2.6	%

Same-property financial occupancies for the quarters ended are as follows:

	3/31/2013			12/31/2012			3/31/2012
Southern California		96.6	%		95.9	%		96.7	%
Northern California		96.8	%		96.4	%		97.3	%
Seattle Metro		96.6	%		95.9	%		96.8	%
Same-property portfolio		96.6	%		96.1	%		96.9	%

Investment Activity

During the first quarter the Company purchased three apartment communities comprised of 534 units for a total investment of $176.2 million.  Please see the press release on February 20, 2013 for additional details on our Fox Plaza acquisition and page S-15 of the supplemental package for our first quarter acquisitions.

Dispositions

In January, the Company sold the land parcel held for future development located in Palo Alto, California for $9.1 million, resulting in a gain of $1.5 million.

Other Investments

During the quarter, the Company received the repayment of two notes receivables totaling $29.5 million.  One of the notes was repaid early, and as such the Company recorded $0.8 million of income related to a change in estimate.

In March, the Company received cash of $9.7 million from the redemption of preferred equity related to two properties located in downtown Los Angeles.  The Company recorded $0.4 million of income from redemption penalties due to the early redemption of these preferred equity investments.

- 3 -

Liquidity and Balance Sheet

Common Stock

During the first quarter, the Company issued 817,445 shares of common stock for $122.9 million, net of commissions, at an average per share price of $151.82.  Subsequent to quarter end, the Company has not issued any shares of common stock.

Unsecured Bond Offering

In April, the Company issued $300 million of 3.25% senior unsecured notes that mature in April 2023.  Please see our press release dated April 8, 2013 for additional details about the notes offering.

Guidance

The Company’s guidance for FFO per diluted share for the quarter ending June 30, 2013 of $1.79 to $1.87, includes the impact of the $300 million unsecured bond offering on April 15, 2013, and the impact of the repayment and redemption of notes and preferred equity investments aggregating $39.2 million.  For additional details regarding our 2013 guidance, please see page S-14 of the Supplemental Financial Information.

Conference Call with Management

The Company will host an earnings conference call with management to discuss its quarterly results on Thursday May 2, 2013 at 10 a.m. PDT (1 p.m. EDT), which will be broadcast live via the Internet at www.essexpropertytrust.com, and accessible via phone by dialing (877) 407-0784, no passcode is necessary.

A rebroadcast of the live call will be available online for 90 days and digitally for 7 days. To access the replay online, go to www.essexpropertytrust.com and select the first quarter earnings link.  To access the replay digitally, dial (877) 870-5176 using the replay pin number 411470. If you are unable to access the information via the Company’s website, please contact the Investor Relations Department at investors@essexpropertytrust.com or by calling (650) 494-3700.

Corporate Profile

Essex Property Trust, Inc., an S&P 400 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 166 apartment communities with an additional 8 properties in various stages of active development. Additional information about Essex can be found on the Company’s web site at www.essexpropertytrust.com.

This press release and accompanying supplemental financial information will be filed electronically on Form 8-K with the Securities and Exchange Commission and can be accessed from the Company’s Web site at www.essexpropertytrust.com. If you are unable to obtain the information via the Web, please contact the Investor Relations Department at (650) 494-3700.

- 4 -

Funds from Operations (“FFO”) Reconciliation

FFO, as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), is generally considered by industry analysts as an appropriate measure of performance of an equity REIT. Generally, FFO adjusts the net income of equity REITs for non-cash charges such as depreciation and amortization of rental properties, impairment charges, gains/losses on sales of real estate and extraordinary items. Management considers FFO and FFO which excludes acquisition costs and items that are non-recurring or not related to the Company’s core business activities, which is referred to as (“Core FFO”), to be useful financial performance measurements of an equity REIT because, together with net income and cash flows, FFO and Core FFO provide investors with an additional basis to evaluate the operating performance and ability of a REIT to incur and service debt and to fund acquisitions and other capital expenditures and the ability to pay dividends.

FFO does not represent net income or cash flows from operations as defined by U.S. generally accepted accounting principles (“GAAP”) and is not intended to indicate whether cash flows will be sufficient to fund cash needs. It should not be considered as an alternative to net income as an indicator of the REIT's operating performance or to cash flows as a measure of liquidity. FFO does not measure whether cash flow is sufficient to fund all cash needs including principal amortization, capital improvements and distributions to shareholders. FFO also does not represent cash flows generated from operating, investing or financing activities as defined under GAAP. Management has consistently applied the NAREIT definition of FFO to all periods presented. However, there is judgment involved and other REITs’ calculation of FFO may vary from the NAREIT definition for this measure, and thus their disclosures of FFO may not be comparable to the Company’s calculation.

The following table sets forth the Company’s calculation of diluted FFO and Core FFO for the three months ended March 31, 2013 and 2012:

	Three Months Ended March 31,
Funds from Operations (In thousands)	2013			2012
Net income available to common stockholders	$	25,203		$	22,722
Adjustments:
Depreciation		47,144			40,827
Gains not included in FFO, net of disposition costs		-			(9,783	)
Depreciation add back from unconsolidated co-investments, and add back convertible preferred dividend – Series G		3,842			4,384
Noncontrolling interest related to Operating Partnership units		1,501			1,590
Depreciation attributable to noncontrolling interests		(327	)		(289	)
Funds from Operations	$	77,363		$	59,451
Acquisition costs		387			186
Gain on sales of marketable securities and note prepayment		(2,611	)		-
Gain on sale of land		(1,503	)		-
Income from early redemption of preferred equity investments		(423	)		-
Core Funds from Operations	$	73,213		$	59,637

- 5 -

SAFE HARBOR STATEMENT UNDER THE PRIVATE LITIGATION REFORM ACT OF 1995:

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Such forward-looking statements include statements and estimates on page 1 and under the caption “Guidance” on page 4 with respect to total and Core FFO for the second quarter 2013, the continued strong performance of our apartment portfolio, and statements and estimates set forth under the captions “Development Pipeline—March 31, 2013” and “Redevelopment Pipeline and Capital Expenditures—March 31, 2013” on pages S-9 and S-10 of the Company’s Supplemental Financial Information Package, which accompanies this press release, regarding estimated costs of property development and redevelopment and regarding the anticipated timing of redevelopments and of the construction start, initial occupancy and stabilization of property development and the various financial estimates and assumptions set forth in the columns “Low-end of Guidance range 2013” and “High-end of guidance range 2013” on page S-14 of the Company’s Supplemental Financial Information Package and the forecasts, set forth on page S-16 of the Company’s Supplemental Financial Information Package, of residential supply, jobs, rent growth and occupancy in various areas.  The Company's actual results may differ materially from those projected in such forward-looking statements.  Factors that might cause such a difference include, but are not limited to, changes in market demand for rental units and the impact of competition and competitive pricing, changes in economic conditions, unexpected delays in the development and stabilization of development projects, unexpected difficulties in leasing of development projects, total costs of development investments exceeding the Company’s projections and other risks detailed in the Company's filings with the Securities and Exchange Commission (SEC).  All forward-looking statements are made as of today, and the Company assumes no obligation to update this information.  For more details relating to risk and uncertainties that could cause actual results to differ materially from those anticipated in our forward-looking statements, and risks to our business in general, please refer to our SEC filings, including the Company’s Report on Form 10-K for the year ended December 31, 2012.

Contact Information

Barb Pak

Director of Investor Relations

(650) 849-1667

bpak@essexpropertytrust.com

- 6 -

EX-99.1

EXHIBIT 99.2

Q1 2013 Supplemental

Table of Contents

	Page
Consolidated Operating Results	S-1 – S-2
Consolidated Funds From Operations	S-3
Consolidated Balance Sheets	S-4
Debt Summary – March 31, 2013	S-5
Capitalization Data, Public Bond Covenants, Credit Ratings, and Selected Debt Ratios – March 31, 2013	S-6
Property Operating Results – Quarters ended March 31, 2013 and 2012	S-7
Revenue by County – Quarters ended March 31, 2013, March 31, 2012 and December 31, 2012	S-8
Development Pipeline – March 31, 2013	S-9
Redevelopment Pipeline and Capital Expenditures – March 31, 2013	S-10
Co-Investments – March 31, 2013	S-11
Summary of Consolidated Co-Investments and Noncontrolling Interest – March 31, 2013	S-12
Income From Discontinued Operations and Selected Financial Data – March 31, 2013	S-13
Assumptions for 2013 FFO Guidance Range	S-14
Summary of Apartment Community Acquisitions and Dispositions Activity	S-15
2013 MSA Level Forecasts: Supply, Jobs and Apartment Market Conditions	S-16
Exhibit A - Property List by Region	1 - 3

E S S E X  P R O P E R T Y  T R U S T, I N C.

Consolidated Operating Results	Three Months Ended
(Dollars in thousands, except per share amounts)	March 31,
	2013			2012
Revenues:
Rental and other property	$	146,394		$	125,474
Management and other fees		2,948			2,444
		149,342			127,918
Expenses:
Property operating		46,764			40,164
Depreciation		47,144			40,734
General and administrative		6,626			5,400
Cost of management and other fees		1,701			1,640
		102,235			87,938
Earnings from operations		47,107			39,980
Interest expense before amortization		(25,211	)		(24,658	)
Amortization expense		(2,930	)		(2,871	)
Interest and other income		5,023			2,413
Equity income from co-investments		4,211			2,340
Gain on sale of land		1,503			-
Income before discontinued operations		29,703			17,204
Income from discontinued operations		-			10,037
Net income		29,703			27,241
Net income attributable to noncontrolling interest		(3,132	)		(3,151	)
Net income attributable to controlling interest		26,571			24,090
Dividends to preferred stockholders		(1,368	)		(1,368	)
Net income available to common stockholders	$	25,203		$	22,722
Net income per share - basic	$	0.68		$	0.67
Net income per share - diluted	$	0.68		$	0.67

See Company's 10-K for additional disclosures

S-1

E S S E X  P R O P E R T Y  T R U S T, I N C.

Consolidated Operating Results	Three Months Ended
Selected Line Item Detail	March 31,
(Dollars in thousands)	2013			2012
Rental and other property
Rental	$	136,734		$	116,794
Other property		9,660			8,680
Rental and other property	$	146,394		$	125,474
Management and other fees
Management	$	2,007		$	1,991
Development and redevelopment		941			453
Management and other fees	$	2,948		$	2,444
Property operating expenses
Real estate taxes	$	14,156		$	11,413
Administrative and insurance		10,654			9,405
Maintenance and repairs		9,448			8,109
Utilities		9,029			8,077
Property management		3,477			3,160
Property operating expenses	$	46,764		$	40,164
General and administrative
General and administrative	$	13,383		$	11,677
Allocated to cost of management and other fees		(1,701	)		(1,640	)
Allocated to property operating expenses - administrative		(3,477	)		(3,160	)
Capitalized to real estate		(1,579	)		(1,477	)
Net general and administrative	$	6,626		$	5,400
Interest and other income
Marketable securities and other interest income	$	1,625		$	1,499
Notes receivable		787			914
Gain from sale of marketable securities and note prepayment		2,611			-
Interest and other income	$	5,023		$	2,413
Equity income from co-investments
Equity loss from co-investments	$	(41	)	$	(809	)
Income from preferred equity investments		3,829			3,149
Income from early redemption of preferred equity investments		423			-
Equity income from co-investments	$	4,211		$	2,340
Noncontrolling interest
Limited partners of Essex Portfolio, L.P.	$	1,501		$	1,590
DownREIT limited partners' distributions		1,175			1,099
Third-party ownership interest		456			462
Noncontrolling interest	$	3,132		$	3,151

See Company's 10-K for additional disclosures

S-2

E S S E X  P R O P E R T Y  T R U S T, I N C.

Consolidated Funds From Operations	Three Months Ended
(Dollars in thousands, except share and per share amounts)	March 31,
	2013			2012			% Change
Funds from operations
Net income available to common stockholders	$	25,203		$	22,722
Adjustments:
Depreciation		47,144			40,827
Gains not included in FFO, net of internal disposition costs		-			(9,783	)
Depreciation add back from unconsolidated co-investments, and add back convertible preferred dividend - Series G		3,842			4,384
Noncontrolling interest related to Operating Partnership units		1,501			1,590
Depreciation attributable to noncontrolling interest		(327	)		(289	)
Funds from operations	$	77,363		$	59,451
FFO per share-diluted	$	1.97		$	1.63		20.8	%
Components of the change in FFO
Non-core items:
Acquisition costs		387			186
Gain on sales of marketable securities and note prepayment		(2,611	)		-
Gain on sale of land		(1,503	)		-
Income from early redemption of preferred equity investments		(423	)		-
Core funds from operations		73,213			59,637
Core FFO per share-diluted	$	1.87		$	1.64		14.0	%
Changes in core items:
Same-property NOI	$	5,057
Non-same property NOI		9,263
Management and other fees, net		443
Equity income from co-investments		906
Interest and other income		(1	)
Interest and amortization expense		(612	)
General and administrative		(1,025	)
Discontinued operations		(348	)
Other items, net		(107	)
	$	13,576
Weighted average number of shares outstanding diluted (1)		39,205,611			36,396,641

(1) Assumes conversion of the weighted average operating partnership interests in the Operating Partnership into shares of the Company's common stock.

See Company's 10-K for additional disclosures

S-3

E S S E X  P R O P E R T Y  T R U S T, I N C.

Consolidated Balance Sheets
(Dollars in thousands)
	March 31, 2013			December 31, 2012
Real Estate:
Land and land improvements	$	1,054,229		$	1,003,171
Buildings and improvements		4,167,500			4,030,501
		5,221,729			5,033,672
Less:  accumulated depreciation		(1,127,030	)		(1,081,517	)
		4,094,699			3,952,155
Real estate under development		65,568			66,851
Co-investments		579,654			571,345
		4,739,921			4,590,351
Cash and cash equivalents		55,634			42,126
Marketable securities		80,432			92,713
Notes and other receivables		11,359			66,163
Other assets		49,113			55,870
Total assets	$	4,936,459		$	4,847,223
Mortgage notes payable	$	1,559,079		$	1,565,599
Unsecured debt		1,112,159			1,112,084
Lines of credit		102,300			141,000
Other liabilities		168,250			137,469
Derivative liabilities		6,107			6,606
Total liabilities		2,947,895			2,962,758
Cumulative convertible preferred stock, carrying value		4,349			4,349
Equity:
Common stock		3			3
Cumulative redeemable preferred stock, liquidation value		73,750			73,750
Additional paid-in-capital		2,329,383			2,204,778
Distributions in excess of accumulated earnings		(464,391	)		(444,466	)
Accumulated other comprehensive loss		(68,280	)		(69,261	)
Total stockholders' equity		1,870,465			1,764,804
Noncontrolling interest		113,750			115,312
Total equity		1,984,215			1,880,116
Total liabilities and equity	$	4,936,459		$	4,847,223

See Company's 10-K for additional disclosures

S-4

E S S E X  P R O P E R T Y  T R U S T, I N C.

Debt Summary - March 31, 2013

(Dollars in thousands)

											Scheduled principal payments (excludes lines of credit)
	Percentage					Weighted Average													Weighted			Percentage
	of Total			Balance		Interest			Maturity				Balance Outstanding						Average Interest			of Total
	Debt			Outstanding		Rate			In Years				Secured		Unsecured		Total		Rate			Debt
Mortgage Notes Payable
Fixed rate - secured		49	%	$	1,357,487		6.0	%		5.6		2013	$	57,230	$	-	$	57,230		4.1	%		2.1	%
Variable rate - secured (1)		7	%		201,592		1.6	%		18.6		2014		47,717		-		47,717		5.2	%		1.8	%
Total mortgage notes payable		56	%		1,559,079		5.4	%		7.3		2015		68,555		-		68,555		5.2	%		2.6	%
												2016		12,589		350,000		362,589		3.5	%		13.6	%
Unsecured Debt												2017		184,646		190,000		374,646		4.3	%		14.0	%
Bonds private placement - fixed rate		17	%		465,000		4.5	%		6.0		2018		293,685		-		293,685		5.8	%		11.0	%
Bonds public offering - fixed rate		11	%		297,159		3.7	%		9.4		2019		259,741		75,000		334,741		5.6	%		12.5	%
Term loan (2)		12	%		350,000		2.6	%		3.9		2020		404,571		-		404,571		6.5	%		15.1	%
		40	%		1,112,159		3.7	%		6.2		2021		48,173		200,000		248,173		5.0	%		9.3	%
Unsecured Lines of Credit												2022		-		297,159		297,159		3.7	%		11.1	%
Line of credit (3)		4	%		102,300		2.1	%				2023		-		-		-		-			-
Line of credit (4)		-			-		-				Thereafter			182,172		-		182,172		1.6	%		6.9	%
Total lines of credit		4	%		102,300		2.1	%
											Total		$	1,559,079	$	1,112,159	$	2,671,238		4.7	%		100.0	%
Total debt		100	%	$	2,773,538		4.6	%

Capitalized interest for the three months ended March 31, 2013 was approximately $3.7 million.

(1) $201.6 million of the variable rate debt is tax exempt to the note holders, and $187.4 million of the tax exempt debt is subject to interest rate protection agreements.

(2) The unsecured term loan has a variable interest rate of LIBOR plus 1.20%.  The Company has entered into interest rate swap contracts for a term of five years with a notional amount totaling $300 million, which effectively converts the interest rate on $300 million of the term loan to a fixed rate.

(3) The unsecured line of credit facility is $600 million and the line matures in December 2015 with two one-year extensions, exercisable at the Company's option.  The underlying interest rate on this line is based on a tiered rate structure tied to the Company's corporate ratings and is currently at LIBOR plus 1.075%.

(4) The unsecured line of credit facility is $25 million and matures in January 2014 with a one-year extension, exercisable at the Company's option.  The underlying interest rate on this line is based on a tiered rate structure tied to the Company's corporate ratings and is currently at LIBOR plus 1.075%.

See Company's 10-K for additional disclosures

S-5

E S S E X  P R O P E R T Y  T R U S T, I N C.

Capitalization Data, Public Bond Covenants, Credit Ratings and Selected Credit Ratios - March 31, 2013

(Dollars and shares in thousands, except per share amounts)

Capitalization Data				Public Bond Covenants	Actual	Requirement
Total debt	$	2,773,538
				Debt to Total Assets:	46%	< 65%
Common stock and potentially dilutive securities
Common stock outstanding		37,276
Limited partnership units (1)		2,155
Options-treasury method		155		Secured Debt to Total Assets:	26%	< 40%
Total share of common stock and potentially dilutive securities		39,586
Common stock price per share as of March 31, 2013	$	150.58
				Interest Coverage:	336%	> 150%
Market value of common stock and potentially dilutive securities	$	5,960,860
Preferred stock	$	73,079		Unsecured Debt Ratio (1) :	272%	> 150%
Total equity capitalization	$	6,033,939
				Selected Credit Ratios	Actual
Total market capitalization	$	8,807,477
Ratio of debt to total market capitalization		31.5	%	Indebtedness Divided by Adjusted EBITDA (2):	6.8x
(1) Assumes conversion of all outstanding operating partnership interests in the Operating Partnership into shares of the Company's common stock.				Unencumbered NOI to Total NOI:	56%

			(1) Unsecured Debt Ratio is unsecured assets (excluding investments in co-investments) divided by unsecured indebtedness.
Credit Ratings Rating Agency	Rating	Outlook	(2) Adjusted EBITDA is annualized current quarter NOI adjusted for non-recurring items and proforma NOI for current quarter acquisitions.
Fitch	BBB+	Stable
Moody's	Baa2	Stable
Standard & Poors	BBB	Stable

See Company's 10-K for additional disclosures

S-6

E S S E X  P R O P E R T Y  T R U S T, I N C.

Property Operating Results - Quarters ended March 31, 2013 and 2012

(Dollars in thousands, except per unit amounts)

	Southern California									Northern California									Seattle Metro									Other real estate assets (1)				Total
	2013			2012			% Change			2013			2012			% Change			2013			2012			% Change			2013		2012		2013			2012			% Change
Revenues:
Same-property revenue	$	60,989		$	58,560			4.1	%	$	44,537		$	41,336			7.7	%	$	23,045		$	21,566			6.9	%	$	-	$	-	$	128,571		$	121,462			5.9	%
Non-same property revenue (2)		4,841			-						6,233			286						3,283			743						3,466		2,983		17,823			4,012
Total Revenues	$	65,830		$	58,560					$	50,770		$	41,622					$	26,328		$	22,309					$	3,466	$	2,983	$	146,394		$	125,474
Property operating expenses:
Same-property operating expenses
Real estate taxes	$	5,159		$	5,049					$	4,201		$	4,010					$	2,325		$	1,860					$	-	$	-	$	11,685		$	10,919			7.0	%
Administrative and insurance		5,331			5,105						2,705			2,548						1,635			1,509						-		-		9,671			9,162			5.6	%
Maintenance and repairs		4,039			3,608						2,787			2,527						1,437			1,516						-		-		8,263			7,651			8.0	%
Utilities		3,610			3,556						2,681			2,599						1,721			1,701						-		-		8,012			7,856			2.0	%
Management fees		1,404			1,412						895			878						634			634						-		-		2,933			2,924			0.3	%
Total same-property operating expenses		19,543			18,730			4.3	%		13,269			12,562			5.6	%		7,752			7,220			7.4	%		-		-	$	40,564		$	38,512			5.3	%
Non-same property operating expenses (2)		1,853			-						2,218			118						1,203			258						926		1,276		6,200			1,652
Total property operating expenses	$	21,396		$	18,730					$	15,487		$	12,680					$	8,955		$	7,478					$	926	$	1,276	$	46,764		$	40,164
Net operating income (NOI):
Same-property NOI	$	41,446		$	39,830			4.1	%	$	31,268		$	28,774			8.7	%	$	15,293		$	14,346			6.6	%	$	-	$	-	$	88,007		$	82,950			6.1	%
Non-same property NOI (2)
Redevelopment communities		-			-						-			-						715			485						-		-		715			485
Acquired communities - 2013 (3)		-			-						603			-						148			-						-		-		751			-
Acquired communities - 2012 (4)		2,988			-						3,412			168						1,217			-										7,617			168
Other real estate assets (1)		-			-						-			-						-			-						2,540		1,707		2,540			1,707
Total non-same property NOI		2,988			-						4,015			168						2,080			485						2,540		1,707		11,623			2,360
Total NOI	$	44,434		$	39,830					$	35,283		$	28,942					$	17,373		$	14,831					$	2,540	$	1,707	$	99,630		$	85,310
Same-property operating margin		68	%		68	%					70	%		70	%					66	%		67	%									68	%		68	%
Annualized same-property turnover percentage		45	%		48	%					46	%		44	%					37	%		41	%									43	%		45	%
Average same-property concessions per turn (5)	$	148		$	175					$	178		$	118					$	133		$	143									$	155		$	152
Reconciliation of apartment units at end of period
Same-property apartment units		12,941									8,106									5,932													26,979
Consolidated apartment units		13,656			12,941						9,431			8,206						6,720			6,168										29,807			27,315
Joint venture		1,788			1,909						1,236			1,895						1,512			1,530										4,536			5,334
Under development		492			371						1,728			878						-			275										2,220			1,524
Total apartment units at end of period		15,936			15,221						12,395			10,979						8,232			7,973										36,563			34,173
Percentage of total		44	%		45.0	%					34	%		32.0	%					22	%		23	%									100	%		100	%
Average same-property financial occupancy		96.6	%		96.7	%					96.8	%		97.3	%					96.6	%		96.8	%									96.6	%		96.9	%

(1) Other real estate assets consists mainly of retail space, commercial properties, and boat slips and their operating results are classified in non-same property results. 

(2) Includes properties which subsequent to January 1, 2012 were either acquired or in a stage of development or redevelopment without stabilized operations.

(3) Acquired communities during 2013 includes Annaliese and Fox Plaza.

(4) Acquired communities during 2012 includes Reed Square, Essex Skyline at MacArthur Place, Park Catalina, The Huntington, Montebello, Park West, Domaine, Ascent, Willow Lake, and Bennett Lofts.

(5) Average same-property concessions per turn is the dollar amount per unit resulting from the same-property concessions divided by the product of the same property turnover percentage for the quarter times the same-property apartment units.

See Company's 10-K for additional disclosures

S-7

E S S E X  P R O P E R T Y  T R U S T, I N C.

Revenue by County - Quarters ended March 31, 2013, March 31, 2012 and December 31, 2012

(Dollars in thousands)

			Average Property Rental Rates							March 31, 2013					March 31, 2012
Region	Units		QTD 2013		QTD 2012		% Change			Property Revenue		Financial Occupancy			Property Revenue		Financial Occupancy			Property Revenue % Change			Property Revenue December 31, 2012		Sequential % Change
Southern California
Los Angeles County		4,805	$	1,758	$	1,674		5.0	%	$	25,928		96.7	%	$	24,699		97.3	%		5.0	%	$	25,661		1.0	%
Ventura County		2,898		1,384		1,337		3.5	%		12,446		96.9	%		12,018		96.8	%		3.6	%		12,323		1.0	%
Orange County		2,402		1,640		1,574		4.2	%		11,922		96.5	%		11,466		96.2	%		4.0	%		11,802		1.0	%
San Diego County		2,213		1,210		1,183		2.3	%		8,285		96.1	%		8,090		96.2	%		2.4	%		8,274		0.1	%
Santa Barbara County		347		1,670		1,663		0.4	%		1,779		97.6	%		1,671		95.3	%		6.5	%		1,679		6.0	%
Riverside County		276		798		778		2.6	%		629		89.5	%		616		90.6	%		2.1	%		645		-2.5	%
Total same-property		12,941		1,536		1,477		4.0	%		60,989		96.6	%		58,560		96.7	%		4.1	%		60,384		1.0	%
Los Angeles County		90		1,788							487					-
Orange County		625		2,401							4,354					-
Non-same property		715		2,095							4,841					-
Northern California
Santa Clara County		3,671		1,919		1,756		9.3	%		21,393		96.9	%		19,637		97.6	%		8.9	%		21,041		1.7	%
Contra Costa County		1,720		1,647		1,566		5.2	%		8,619		96.4	%		8,249		96.8	%		4.5	%		8,652		-0.4	%
Alameda County		1,542		1,582		1,476		7.2	%		7,644		97.1	%		7,157		96.7	%		6.8	%		7,535		1.4	%
San Mateo County		768		1,960		1,747		12.2	%		4,655		97.2	%		4,165		97.6	%		11.8	%		4,571		1.8	%
San Francisco MSA		175		2,177		1,948		11.8	%		1,133		94.6	%		1,045		97.9	%		8.4	%		1,122		1.0	%
Other		230		1,572		1,524		3.1	%		1,093		95.8	%		1,083		97.9	%		0.9	%		1,098		-0.5	%
Total same-property		8,106		1,797		1,659		8.3	%		44,537		96.8	%		41,336		97.3	%		7.7	%		44,019		1.2	%
San Francisco MSA		717		2,005							2,917					-
Santa Clara County		608		1,793							3,316					286
Non-same property		1,325		1,899							6,233					286
Seattle Metro
King County		5,467		1,253		1,163		7.7	%		21,697		96.6	%		20,324		97.0	%		6.8	%		21,491		1.0	%
Snohomish County		465		919		843		9.0	%		1,348		96.8	%		1,242		94.9	%		8.5	%		1,334		1.0	%
Total same-property		5,932		1,226		1,138		7.8	%		23,045		96.6	%		21,566		96.8	%		6.9	%		22,825		1.0	%
King County		788		1,463							3,283					743
Non-same property		788		1,463							3,283					743
Other real estate assets											3,466					2,983
Total same-property revenue		26,979	$	1,520	$	1,425		6.7	%	$	128,571		96.6	%	$	121,462		96.9	%		5.9	%	$	127,228		1.1	%
Total non-same property revenue		2,828	$	1,819						$	17,823				$	4,012

See Company's 10-K for additional disclosures

S-8

E S S E X  P R O P E R T Y  T R U S T, I N C.

Development Pipeline - March 31, 2013

(Dollars in millions)

		Ownership %			Estimated Units		Estimated retail sq. feet		Incurred to  Date		Remaining Costs		Estimated Total Cost		Construction Start	Initial Occupancy	Stabilized Operations
Development Projects - Consolidated
Project Name	Location
64th & Christie	Emeryville, CA		100	%		190		-	$	22.0	$	39.6	$	61.6	Q3 2012	Q3 2014	Q1 2015
The Avery (fka Valley Village)	Valley Village, CA		(1	)		121		-		1.7		35.9		37.6	Q3 2012	Q1 2014	Q2 2014
Total - Consolidated Development Projects						311		-		23.7		75.5		99.2
Predevelopment Projects - Consolidated
Project Name	Location
City Centre	Moorpark, CA		100	%		200		-		9.9		-		9.9
The Village (fka Main Street)	Walnut Creek, CA		50	%		49		35,000		30.1		-		30.1
Other Projects	various					-		-		1.9		-		1.9
Total Predevelopment Projects - Consolidated						249		35,000		41.9		-		41.9
Total Development Pipeline - Consolidated						560		35,000		65.6		75.5		141.1
Development Projects - Joint Venture
Project Name	Location
Epic - Phase I and II	San Jose, CA		55	%		569		-		144.1		47.5		191.6	Q3 2011	Q2 2013	Q4 2014
Connolly Station	Dublin, CA		55	%		309		-		61.3		33.2		94.5	Q3 2011	Q3 2013	Q2 2014
The Huxley	West Hollywood, CA		50	%		187		18,200		50.4		24.6		75.0	Q4 2011	Q1 2014	Q3 2014
The Dylan	West Hollywood, CA		50	%		184		12,750		44.6		30.8		75.4	Q4 2011	Q2 2014	Q4 2014
Mosso I. and Mosso II. (fka Folsom and Fifth)	San Francisco, CA		55	%		463		9,300		109.3		140.7		250.0	Q2 2012	Q2 2014	Q1 2015
Elkhorn	San Mateo, CA		55	%		197		-		31.0		45.1		76.1	Q3 2012	Q2 2014	Q4 2014
Total - Joint Venture Development Projects						1,909		40,250		440.7		321.9		762.6
Predevelopment Projects - Joint Venture
Project Name	Location
Epic - Phase III	San Jose, CA		55	%		200		-		22.4		-		22.4
Total Development Pipeline - Joint Venture						2,109		40,250		463.1		321.9		785.0
Grand Total - Development Pipeline						2,669		75,250	$	528.7	$	397.4	$	926.1

(1) The Company invested $1.0 million and has incurred $0.7 million of additional internal costs as part of an agreement to purchase the property upon receipt of temporary certificate of occupancy for total estimated cost of $37.6 million, which is expected in the first quarter of 2014.

See Company's 10-K for additional disclosures

S-9

E S S E X  P R O P E R T Y  T R U S T, I N C.                                                                                                                                             

Redevelopment Pipeline and Capital Expenditures - March 31, 2013

(Dollars in thousands, except per unit amounts)

			Total		Estimated		Estimated			NOI
			Incurred		Remaining		Total		Project	For the quarter ended
Region/Project Name	Units		To Date		Cost		Cost		Start Date	Q1 2013		Q1 2012
Same-property - Redevelopment Projects (1) (2)
Northern California
Marina Cove, Santa Clara, CA		292	$	6,519	$	7,532	$	14,051	Jun-07
Pointe at Cupertino, Cupertino, CA		116		7,353		2,600		9,953	Jan-10
Magnolia Square, Sunnyvale, CA		188		8,121		5,168		13,289	Sep-10
Southern California
CentrePoint, San Diego, CA		224		9,027		2,697		11,724	Oct-11
Fairway Apartments at Big Canyon, Newport Beach, CA		74		1,978		3,821		5,799	Nov-12
Total Same-property - Redevelopment Projects		894	$	32,998	$	21,818	$	54,816		$	3,500	$	3,216
Non-same property - Redevelopment Projects
Seattle Metro
Woodland Commons, Bellevue, WA		302		14,405		998		15,403	Jun-07
Total Non-same property - Redevelopment Projects		302	$	14,405	$	998	$	15,403		$	715	$	486

(1)  Redevelopment activities are ongoing at these communities, but the communities have stabilized operations, therefore results are classified in same-property operations.

(2)  The Company incurred $0.5 million of vacancy loss during the three months ended March 31, 2013 caused by the redevelopment of unit interiors which totaled 223 units during the three months ended March, 31, 2013.

Non-revenue Generating Capital Expenditures		Q1 2013		Q4 2012		Q3 2012		Q2 2012		Q1 2012		Q4 2011		Q3 2011
Non-revenue generating capital expenditures	$	4,019	$	14,715	$	8,736	$	5,840	$	1,200	$	12,144	$	6,235
Average apartment units in quarter		28,900		28,269		27,815		27,457		27,221		27,241		26,964
Capital expenditures per apartment unit in the quarter	$	139	$	521	$	314	$	213	$	44	$	446	$	231
Capital expenditures per apartment unit-trailing four quarters	$	1,153	$	1,079	$	1,004	$	926	$	895	$	958	$	892

See Company's 10-K for additional disclosures

S-10

E S S E X  P R O P E R T Y  T R U S T, I N C.

Co-investments - March 31, 2013

(Dollars in thousands)

	Essex					Total				Essex		Weighted			Remaining		For the Quarter
	Ownership					Undepreciated		Debt		Book		Average			Term of		Ended March 31,
	Percentage			Units		Book Value		Amount		Value		Borrowing Rate			Debt/(in Years)		2013			2012
Operating Non-consolidated Joint Ventures																	Net Operating Income
Essex Apartment Value Fund II, L.P. (Fund II) (1)		28.2	%		1,284	$	246,311	$	110,622	$	27,121		4.7	%		0.8	$	4,416		$	8,895
Wesco I, LLC (2)		50.0	%		2,713		661,157		359,912		143,051		4.0	%		10.0		8,229			5,304
Wesco III, LLC (2)		50.0	%		264		46,074		27,330		9,821		3.1	%		6.9		629			-
Expo (3)		50.0	%		275		62,758		27,267		18,714		2.0	%		1.3		385			-
Total Operating Non-consolidated Joint Ventures					4,536	$	1,016,300	$	525,131	$	198,707		4.0	%		7.4	$	13,659		$	14,199
																	Essex Portion of NOI and Expenses
Essex portion of NOI																	$	5,867		$	5,160
Essex portion of depreciation																		(3,788	)		(4,330	)
Essex portion of interest expense and other																		(2,120	)		(1,639	)
Essex portion of net loss from operating co-investments																	$	(41	)	$	(809	)
Development Joint Ventures (4)		50/55	%		2,109	$	463,114	$	68,000		238,177		1.6	%		33.6
												Weighted			Weighted
												Average			Average
												Preferred			Expected
												Return			Term		Income from
																	Equity Investments
Preferred Equity Investments											142,770		10.3	%		4.7	$	4,252		$	3,149
Total Co-investments										$	579,654						$	4,211		$	2,340

(1) The Company has a 28.2% interest as a general partner and limited partner in Fund II, and may earn promote income if Fund II exceeds certain financial return benchmarks.  During Q4 2012, 7 of the 14 properties in Fund II were sold.

(2) The Company has a 50% interest in Wesco I and III and the Company may earn promote income if the co-investment exceeds certain financial benchmarks.

(3) NOI generated from the lease-up of Expo was included in Development Joint Ventures in the prior year; operations from Expo reclassified to Operating Joint Ventures in Q1 2013.

(4) The Company has interests in six development co-investments, which are developing projects located in San Francisco, San Mateo, Dublin, San Jose, and two in West Hollywood, California.

See Company's 10-K for additional disclosures

S-11

E S S E X  P R O P E R T Y  T R U S T, I N C.

Summary of Consolidated Co-Investments and Noncontrolling Interest - March 31, 2013

(Dollars in thousands)

The Company enters into co-investment transactions with third party developers, owners and investors of apartment communities.  In accordance with GAAP, the Company consolidates certain of these co-investment transactions, resulting in noncontrolling interests corresponding to the ownership interest of the third-party developer, owner or investor.

The following table summarizes the consolidated co-investments and noncontrolling interest:

									Operations for the quarter ended
	Balance as of March 31, 2013								March 31, 2013
	Investment in Real Estate		Related Debt		Noncontrolling Interest		DownREIT Units Outstanding (1)		Revenue		Operating Expenses		NOI
Noncontrolling Interest - DownREIT:
Barkley Apartments	$	8,456	$	16,719	$	1,696		74,248	$	654	$	226	$	428
Brentwood		13,670		19,196		2,568		58,884		632		183		449
Brookside Oaks		32,050		19,891		2,327		84,095		943		180		763
Capri at Sunny Hills		15,932		-		2,968		159,890		628		180		448
Hidden Valley (2)		37,965		30,409		6,089		62,647		1,388		423		965
Highridge Apartments		29,816		44,807		2,826		270,158		1,628		351		1,277
Montejo Apartments		8,064		13,245		1,216		29,319		482		118		364
The Elliot at Mukilteo		15,061		10,750		1,212		100,713		840		325		515
Magnolia Square		31,264		18,381		6,356		57,231		854		234		620
Fairhaven Apartments		12,796		17,189		2,951		67,728		662		176		486
Valley Park Apartments		13,696		22,487		296		21,630		747		142		605
Villa Angelina Apartments		19,496		27,415		1,717		46,931		1,006		241		765
	$	238,266	$	240,489		32,222		1,033,474	$	10,464	$	2,779	$	7,685
Other Components of Noncontrolling Interest:
Hillsdale Garden Apartments (3)	$	110,664				21,498			$	4,213	$	1,408	$	2,805
Joint Venture - Development (4)	$	30,100				4,000
Operating Limited Partnership Units and Other						56,030
Total Noncontrolling Interest					$	113,750

(1) Generally, DownREIT units are redeemed for cash at a value equal to Essex's common stock price.

(2) The DownREIT has a 75% interest in this community and a joint venture partner has a 25% interest.

(3) The Company has an 81.5% interest in this community and the joint venture partner has an 18.5% interest.

(4) The Company consolidates one joint venture development located in Walnut Creek, California, in which the Company has a 50% interest.

See Company's 10-K for additional disclosures

S-12

E S S E X  P R O P E R T Y  T R U S T, I N C.                                                                                                                                              

Income From Discontinued Operations and Selected Financial Data - March 31, 2013

(Dollars in thousands)

Income from Discontinued Operations

No communities were sold or held for sale for the quarter ended March 31, 2013. During the quarter ended March 31, 2012, the Company sold properties located in San Diego, California including Tierra del Sol/Norte, 156-units, and Alpine Country, 108-units, for gross proceeds of $28.3 million resulting in a  net gain of $9.8 million.

	Three Months Ended
	March 31,
	2013		2012
Rental revenues	$	-	$	608
Property operating expenses		-		(260	)
Depreciation and amortization		-		(94	)
Income from real estate sold		-		254
Gain on sale, net of internal disposition costs and taxes		-		9,783
Income from discontinued operations	$	-	$	10,037

Shares Outstanding and Potentially Dilutive Securities
	Q1 2013		Actual
	Weighted Avg.		As of 3/31/13
Common Shares		37,003,925		37,276,204
Stock Options and Series G Preferred Stock		122,239		155,221
Weighted Avg. Shares Diluted - EPS		37,126,164		37,431,425
Operating Limited Partnership Units		2,079,447		2,154,510
Weighted Avg. Shares Diluted - FFO		39,205,611		39,585,935

See Company's 10-K for additional disclosures

S-13

E S S E X  P R O P E R T Y  T R U S T, I N C.

Assumptions for 2013 FFO Guidance Range

Q1 2013 Earnings Results Supplement

($'s in thousands, except share and per share data)                                                                                                    

				Low - end of			High - end of
	Actual			Guidance range			Guidance range
	Q1 2013			2013			2013			Changes from Original 2013 Guiance
Net Operating Income ("NOI")
Total NOI from consolidated communities	$	99,630		$	406,200		$	411,200		NOI updated for the acquistion of Fox Plaza.
Management Fees	$	2,948		$	11,500		$	12,000
Interest Expense
Interest and amortization expense, before capitalized interest	$	(31,836	)	$	(134,200	)	$	(131,800	)	Interest updated for the $300 million bond offering from mid-April.
Projected interest capitalized		3,695			16,000			18,000		Capitalized interest updated for timing of development spend.
Net interest expense		(28,141	)		(118,200	)		(113,800	)
Recurring Income and Expenses
Interest and other income	$	2,412		$	8,100		$	8,600		Interest income updated for prepayment of $29.5 million of notes.
FFO from co-investments		7,413			28,200			30,200
General and administrative expense		(6,239	)		(23,500	)		(24,000	)
Cost of management and other fees		(1,701	)		(6,800	)		(6,800	)
Preferred dividends and non-controlling interest		(3,109	)		(13,300	)		(13,300	)
		(1,224	)		(7,300	)		(5,300	)
Non-Core Income and Expenses
Promote income from co-investment	$	-		$	2,500		$	5,500
Gains on sales of marketable securities, land, note prepayment		4,114			4,114			4,114
Gains from early redemption of preferred equity		423			423			423
Loss on early retirement of debt		-			(1,600	)		-
Acquisition costs		(387	)		(1,500	)		(2,000	)
		4,150			3,937			8,037
Funds from Operations	$	77,363		$	296,136		$	312,136
Funds from Operations per diluted Share	$	1.97		$	7.50		$	7.90
% Change - Funds from Operations		16.9	%		11.7	%		17.8	%
Funds from Operations excluding non-core items	$	73,213		$	292,199		$	304,099
Core Funds from Operations per diluted Share	$	1.87		$	7.40		$	7.70
% Change - Core Funds from Operations		20.3	%		8.5	%		12.9	%
Weighted average shares outstanding		39,205,611			39,500,000			39,500,000

See Company's 10-K for additional disclosures

S-14

E S S E X  P R O P E R T Y  T R U S T, I N C.

Summary of Apartment Community Acquisitions and Dispositions Activity

Twelve month rolling activity ending March 31, 2013

(Dollars in thousands)

Acquisitions Property Name	Location	Units		Essex Ownership Percentage			Ownership	Date	Price			Assumed Debt Principal		Assumed Debt Stated Rate			Assumed Debt Effective Rate			Price per Unit		Average Rent
Skyline (1)	Santa Ana, CA		349		100	%	EPLP	Apr-12	$	85,000		$	-							$	487	$	3,042
Park Catalina	Los Angeles, CA		90		100	%	EPLP	Jun-12		23,650			-								263		1,592
The Huntington	Huntington Beach, CA		276		100	%	EPLP	Jun-12		48,250			30,300		5.7	%		3.3	%		175		1,254
	Q2 2012 Total		715							156,900			30,300								219
Montebello	Kirkland, WA		248		100	%	EPLP	Jul-12		52,000			26,515		5.6	%		3.1	%		210		1,341
Riley Square	Santa Clara, CA		156		50	%	Wesco I, LLC	Aug-12		38,250			17,500		5.2	%		3.1	%		245		1,644
Park West	San Francisco, CA		126		100	%	EPLP	Sep-12		31,600			-								251		1,561
Domaine	Seattle, WA		92		100	%	EPLP	Sep-12		34,000			14,600		5.7	%		3.0	%		370		1,910
	Q3 2012 Total		622							155,850			58,615								251
Ascent	Kirkland, WA		90		100	%	EPLP	Oct-12		15,850			-								176		1,155
Willow Lake	San Jose, CA		508		100	%	EPLP	Oct-12		148,000			-								291		1,758
Madrid (2)	Mission Viejo, CA		230		50	%	Wesco I, LLC	Nov-12		(2	)		33,266		5.3	%		2.6	%		-		1,616
Haver Hill	Fullerton, CA		264		50	%	Wesco III, LLC	Nov-12		45,600			-								173		1,283
Bennett Lofts (3)	San Francisco, CA		113		100	%	EPLP	Dec-12		73,730			-								652		3,028
Pacific Electric Lofts (2)	Los Angeles, CA		314		50	%	Wesco I, LLC	Dec-12		(2	)		46,939		4.0	%		2.5	%		-		1,722
	Q4 2012 Total		1,519							450,180			80,205								296
Annaliese	Seattle, WA		56		100	%	EPLP	Jan-13		19,000			-								339		1,734
Bennett Lofts (3)	San Francisco, CA		34		100	%	EPLP	Jan-13		22,220			-								654		3,028
Fox Plaza (4)	San Francisco, CA		444		100	%	EPLP	Feb-13		135,000			-								257		1,878
	Q1 2013 Total		534						$	176,220		$	-							$	291
Dispositions Property Name	Location	Units		Essex Ownership Percentage			Ownership	Date	Price			Price per Unit		Average Rent
Parcwood	Corona, CA		312		28.2	%	Fund II	Oct-12		42,200			135		1,018
Regency Tower	Oakland, CA		178		28.2	%	Fund II	Oct-12		31,000			174		1,401
Studio 40-41	Studio City, CA		149		28.2	%	Fund II	Oct-12		56,300			378		1,977
Tower @ 801	Seattle, WA		173		28.2	%	Fund II	Oct-12		50,100			290		1,448
Cielo	Chatsworth, CA		119		28.2	%	Fund II	Nov-12		33,100			278		1,668
Echo Ridge	Snoqualmie, WA		120		28.2	%	Fund II	Dec-12		26,500			221		1,380
The Enclave	San Jose, CA		637		28.2	%	Fund II	Dec-12		173,750			273		1,627
	2012		1,688						$	412,950		$	245

(1) In April 2012, the Company purchased the joint venture partner's remaining membership interest in the co-investment Essex Skyline at MacArthur Place for a purchase price of $85 million. The property is now consolidated.

(2) In accordance with terms of the purchase agreements, purchase price of the properties are not being disclosed by the Company.

(3) The 147 unit apartment community was acquired in two phases for $96.0 million.  Approximately 75% was acquired in December 2012 with the  remainder acquired on January 8, 2013.

(4) The price per unit excludes $21.0 million attributed to the allocation of cost of the retail and parking garage at the community.

See Company's 10-K for additional disclosures

S-15

E S S E X  P R O P E R T Y  T R U S T, I N C

2013 MSA Level Forecasts: Supply, Jobs and Apartment Market Conditions
	Residential Supply (1)					Job Forecast (2)		Market Forecast (3)
Market	New MF Supply	New SF Supply	Total Supply	% of MF Supply to MF Stock	% of Total Supply to Total Stock	Est.New Jobs Dec-Dec	% Growth	Estimated Rent Growth	Estimated Year End Occupancy
Seattle	6,900	5,888	12,788	1.7%	1.1%	41,000	2.8%	6.5%	96.0%
San Francisco	4,000	441	4,441	1.1%	0.6%	25,500	2.5%	7.0%	96.7%
Oakland	1,800	2,563	4,363	0.6%	0.4%	18,000	1.8%	6.5%	96.5%
San Jose	4,100	1,475	5,575	1.9%	0.9%	25,000	2.7%	7.5%	96.7%
No. Cal.	9,900	4,479	14,379	1.1%	0.6%	68,500	2.4%	7.1%	96.6%
Ventura	500	224	724	0.8%	0.3%	3,500	1.2%	4.0%	95.5%
Los Angeles	5,000	2,667	7,667	0.3%	0.2%	70,000	1.8%	6.5%	96.0%
Orange	2,800	2,111	4,911	0.8%	0.5%	25,000	1.8%	5.3%	96.0%
San Diego	3,200	2,133	5,333	0.8%	0.5%	19,000	1.5%	4.0%	95.5%
So. Cal.	11,500	7,135	18,635	0.5%	0.3%	117,500	1.7%	5.4%	95.9%
Weighted Average (4)	28,300	17,502	45,802	0.8%	0.5%	227,000	2.0%	6.1%	96.0%

All data are based on Essex Property Trust, Inc. forecasts.

U.S. Economic Assumptions: 2013 G.D.P. Growth:  2.3% , 2013 Job Growth: 1.6%

(1) New Residential Supply:  MF reflects Company's internal estimate of actual multifamily deliveries; SF is based on 12 month single family trailing permits reported by the US Census Bureau

(2) Job Forecast: refers to the difference between total non-farm industry employment (not seasonally adjusted) projected through Dec 2013 over estimated Dec 2012, expressed as total new jobs and growth rates.

(3) Market Forecast: the estimated rent growth represents the forecasted change in effective market rents for Q4 2013 vs Q4 2012 (excludes submarkets not targeted by Essex).  The estimated year end occupancy represents the Company's forecast of physical market occupancy rates at Q4 2013.

(4) Weighted Average: markets weighted by economic rent in the Company's portfolio.

See Company's 10-K for additional disclosures

S-16

ESSEX PROPERTY TRUST, INC. APARTMENT COMMUNITIES

Real Estate Information as of May 1, 2013

					Square	Year	Year	Property	Age of
Property Name	Address	City	State	Units	Footage	Acquired	Built	Ownership	Property
NORTHERN CALIFORNIA
Santa Clara County
The Commons	275 Union Avenue	Campbell	CA	264	153,168	2010	1973	EPLP	40
Pointe at Cupertino	19920 Olivewood Street	Cupertino	CA	116	135,200	1998	1963	EPLP	50
Bella Villagio	383 Vista Roma Way	San Jose	CA	231	227,511	2010	2004	EPLP	9
Epic - Phases I & II	545 River Oaks Parkway	San Jose	CA	569	472,236			JV-55%
Carlyle, The	2909 Nieman Boulevard	San Jose	CA	132	129,200	2000	2000	EPLP	13
Esplanade	350 East Taylor St.	San Jose	CA	278	279,000	2004	2002	EPLP	11
Waterford, The	1700 N. First Street	San Jose	CA	238	219,600	2000	2000	EPLP	13
101 San Fernando	99 S. Fourth Street	San Jose	CA	323	296,078	2010	2001	EPLP	12
Willow Lake	1331 Lakeshore Circle	San Jose	CA	508	471,744	2012	1989	EPLP	24
1000 Kiely	1000 Kiely Blvd.	Santa Clara	CA	121	128,486	2011	1971	EPLP	42
Le Parc	440 N. Winchester Avenue	Santa Clara	CA	140	113,200	1994	1975	EPLP	38
Marina Cove	3480 Granada Avenue	Santa Clara	CA	292	250,200	1994	1974	EPLP	39
Riley Square	3707 Poinciana Drive	Santa Clara	CA	156	126,900	2012	1972	Wesco I	41
Bristol Commons	732 E. Evelyn Avenue	Sunnyvale	CA	188	142,600	1995	1989	EPLP	24
Brookside Oaks	1651 Belleville Way	Sunnyvale	CA	170	119,900	2000	1973	DownREIT	40
Magnolia Lane	113 South Mary Avenue	Sunnyvale	CA	32	31,541	2007	2001	EPLP	12
Montclaire	450 N. Mathilda Avenue	Sunnyvale	CA	390	294,100	1988	1973	EPLP	40
Reed Square	1070 Reed Avenue	Sunnyvale	CA	100	95,440	2011	1970	EPLP	43
Summerhill Park	972 Corte Madera Avenue	Sunnyvale	CA	100	78,500	1988	1988	EPLP	25
Magnolia Square	107 South Mary Avenue	Sunnyvale	CA	156	110,824	2007	1969	DownREIT	44
Via	315 Tasman Drive	Sunnyvale	CA	284	309,421	2011	2011	EPLP	2
Windsor Ridge	825 E. Evelyn Avenue	Sunnyvale	CA	216	161,800	1989	1989	EPLP	24
			13%	4,435	3,874,413
Alameda County
Fourth & U	700 University Avenue	Berkeley	CA	171	146,255	2010	2010	EPLP	3
Briarwood	4200 Bay Street	Fremont	CA	160	111,160	2011	1978	Wesco I	35
Stevenson Place	4141 Stevenson Blvd.	Fremont	CA	200	146,200	2000	1975	EPLP	38
The Woods	40640 High Street	Fremont	CA	160	105,280	2011	1978	Wesco I	35
Boulevard	40001 Fremont Blvd.	Fremont	CA	172	131,200	1996	1978	EPLP	35
City View	25200 Carlos Bee Blvd.	Hayward	CA	572	462,400	1998	1975	EPLP	38
The Grand	100 Grand Avenue	Oakland	CA	243	205,026	2009	2009	EPLP	4
Bridgeport	36826 Cherry Street	Newark	CA	184	139,000	1987	1987	EPLP	26
Alderwood Park Apartments	37057 Magnolia Street	Newark	CA	96	74,624	2006	1987	Fund II	26
			6%	1,958	1,521,145
Contra Costa County
Connolly Station	7550 St. Patrick Way	Dublin	CA	309	286,348			JV-55%
64th & Christie	64th and Christie Avenue	Emeryville	CA	190	148,935			EPLP
San Marcos	2601 Hilltop Drive	Richmond	CA	432	407,600	2003	2003	EPLP	10
Bel Air	2000 Shoreline Drive	San Ramon	CA	462	391,000	1995	1988	EPLP	25
Foothill Gardens	1110 Harness Drive	San Ramon	CA	132	155,100	1997	1985	EPLP	28
Twin Creeks	2711-2731 Morgan Drive	San Ramon	CA	44	51,700	1997	1985	EPLP	28
Canyon Oaks	1 Amberstone Lane	San Ramon	CA	250	237,894	2007	2005	EPLP	8
Mill Creek at Windermere	2100 Waterstone Place	San Ramon	CA	400	381,060	2007	2005	EPLP	8
			5%	1,720	1,624,354
San Mateo County
Carlmont Woods	2515 Carlmont Drive	Belmont	CA	195	107,200	2004	1971	Fund II	42
Belmont Terrace	1606 Continetals Way	Belmont	CA	71	72,951	2006	1974	EPLP	39
Harbor Cove	900 E. Hillsdale Blvd.	Foster City	CA	400	306,600	2004	1971	Fund II	42
Davey Glen	200 Davey Glen Road	Belmont	CA	69	65,974	2006	1962	Fund II	51
Hillsdale Garden	3421 Edison Avenue	San Mateo	CA	697	611,505	2006	1948	JV - 81.5%	65
Elkhorn	1950 Elkhorn Court	San Mateo	CA	197	140,547			JV - 55%
			4%	1,432	1,164,230
San Francisco and Marin Counties
Mt. Sutro Terrace Apartments	480 Warren Drive	San Francisco	CA	99	64,000	1999	1973	EPLP	40
Park West	121 Funston	San Francisco	CA	126	90,060	2012	1958	EPLP	55
Bennett Lofts	530, 542, 548 Brannan	San Francisco	CA	147	184,713	2012	2004	EPLP	9
	208 Pennsylvania and 1001 Mariposa
Mosso I. and Mosso II. (fka Folson and Fifth)	900 Folsom Street and 250 Fifth Street	San Francisco	CA	463	371,072			JV-55%
Vista Belvedere	15 Red Hill Circle	Tiburon	CA	76	78,300	2004	1963	EPLP	50
Fox Plaza	1390 Market Street	San Francisco	CA	444	230,017	2013	1968	EPLP	45
			3%	892	647,090
Other
Tuscana	315 Mt. Oso	Tracy	CA	30	29,088	2007	2007	EPLP	6
Harvest Park	2327 Summercreek Drive	Santa Rosa	CA	104	116,628	2007	2004	EPLP	9
Chestnut Street Apartments	143 Chestnut Avenue	Santa Cruz	CA	96	87,640	2008	2002	EPLP	11
			1%	230	233,356
Total Northern California			31%	10,667	9,064,588				29
SOUTHERN CALIFORNIA
Los Angeles County
Regency at Encino	15506 Moorpark Street	Encino	CA	75	78,487	2009	1989	EPLP	24
416 on Broadway	412 East Broadway	Glendale	CA	115	126,782	2010	2009	EPLP	4
Hampton Court	1136 N. Columbus Avenue	Glendale	CA	83	71,500	1999	1974	EPLP	39
Hampton Place	245 W. Loraine Street	Glendale	CA	132	141,500	1999	1970	EPLP	43
Marbrisa	1809 Termino Ave.	Long Beach	CA	202	122,800	2002	1987	EPLP	26
Pathways at Bixby Village (fka Pathways)	5945 E. Pacific Coast Hwy.	Long Beach	CA	296	197,700	1991	1975	EPLP	38
Bellerive	1921 Beloit Avenue	Los Angeles	CA	63	79,296	2011	2011	EPLP	2
Bunker Hill	222 and 234 S. Figueroa St.	Los Angeles	CA	456	346,600	1998	1968	EPLP	45
Cochran Apartments	612 South Cochran	Los Angeles	CA	58	51,400	1998	1989	EPLP	24
Kings Road	733 North Kings Road	Los Angeles	CA	196	132,100	1997	1979	EPLP	34
Marbella	600 South Detroit Street	Los Angeles	CA	60	50,108	2005	1991	EPLP	22
Belmont Station	1302 West 2nd St.	Los Angeles	CA	275	225,000	2009	2009	EPLP	4
Pacific Electric Lofts	610 South Main Street	Los Angeles	CA	314	277,980	2012	2006	Wesco I	7
Park Catalina	690 South Catalina Street	Los Angeles	CA	90	72,864	2012	2002	EPLP	11
Park Place	400 S. Detroit Street	Los Angeles	CA	60	48,000	1997	1988	EPLP	25
Windsor Court	401 S. Detroit Street	Los Angeles	CA	58	46,600	1997	1988	EPLP	25
Renaissance	630 South Masselin Avenue	Los Angeles	CA	169	154,268	2006	1990	Fund II	23
Santee Court	716 S. Los Angeles Street	Los Angeles	CA	165	132,040	2010	2004	EPLP	9
Santee Village	743 South Santee Street	Los Angeles	CA	73	69,817	2011	2011	EPLP	2
Marina City Club	4333 Admiralty Way	Marina Del Rey	CA	101	127,200	2004	1971	EPLP	42
Mirabella	13701 Marina Point Drive	Marina Del Rey	CA	188	176,800	2000	2000	EPLP	13
Muse	5451 Vineland Avenue	North Hollywood	CA	152	135,292	2011	2011	EPLP	2
Monterra del Mar	280 E. Del Mar Boulevard	Pasadena	CA	123	74,400	1997	1972	EPLP	41
Monterra del Rey	350 Madison	Pasadena	CA	84	73,100	1999	1972	EPLP	41
Monterra del Sol	280 South Euclid	Pasadena	CA	85	69,200	1999	1972	EPLP	41
Fountain Park	13141 Fountain Park Drive	Playa Vista	CA	705	608,900	2004	2002	EPLP	11

1

ESSEX PROPERTY TRUST, INC. APARTMENT COMMUNITIES

Real Estate Information as of May 1, 2013

					Square	Year	Year	Property	Age of
Property Name	Address	City	State	Units	Footage	Acquired	Built	Ownership	Property
Highridge	28125 Peacock Ridge Drive	Rancho Palos Verde	CA	255	290,200	1997	1972	DownREIT	41
Coldwater Canyon	4250 Codlwater Canyon	Studio City	CA	39	34,125	2007	1979	EPLP	34
Allegro	11945 Magnolia Blvd.	Valley Village	CA	97	127,812	2010	2010	EPLP	3
The Avery (fka Valley Village)	12005 Albers Street	Valley Village	CA	121	129,393			EPLP
Walnut Heights	20700 San Jose Hills Road	Walnut	CA	163	146,700	2003	1964	EPLP	49
The Huxley	1216-1234 North La Brea Avenue	West Hollywood	CA	187	154,776			JV - 50%
The Dylan	1111 North La Brea Avenue	West Hollywood	CA	184	150,678			JV - 50%
Avondale at Warner Center	22222 Victory Blvd.	Woodland Hills	CA	446	331,000	1999	1970	EPLP	43
Reveal	21201 Kittridge Street	Woodland Hills	CA	438	414,892	2011	2010	Wesco I	3
			17%	5,816	5,034,463
Ventura County
Camarillo Oaks	921 Paseo Camarillo	Camarillo	CA	564	459,000	1996	1985	EPLP	28
Camino Ruiz Square	105 Camino Ruiz	Camarillo	CA	160	105,448	2006	1990	EPLP	23
Arbors at Parc Rose	1500 Tulipan Circle	Oxnard	CA	373	503,196	2011	2001	Wesco I	12
Mariner's Place	711 South B Street	Oxnard	CA	105	77,200	2000	1987	EPLP	26
Tierra Vista	1750 Montevina Circle	Oxnard	CA	404	387,100	2001	2001	EPLP	12
Monterey Villas	1040 Kelp Lane	Oxnard	CA	122	122,100	1997	1974	EPLP	39
Meadowood	1733 Cochran Street	Simi Valley	CA	320	264,500	1996	1986	EPLP	27
Hidden Valley	5065 Hidden Park Court	Simi Valley	CA	324	310,900	2004	2004	DownREIT	9
Lofts at Pinehurst,The	1021 Scandia Avenue	Ventura	CA	118	71,100	1997	1971	EPLP	42
Hillcrest Park	1800 West Hillcrest Drive	Newbury Park	CA	608	521,900	1998	1973	EPLP	40
Pinehurst	3980 Telegraph Road	Ventura	CA	28	21,200	2004	1973	EPLP	40
Woodside Village	675 Providence Ave.	Ventura	CA	145	136,500	2004	1987	EPLP	26
			10%	3,271	2,980,144
Santa Barbara County
The Sweeps (fka Chimney Sweep)	775 Camino Del Sur Drive	Goleta	CA	91		2006	1967	EPLP	46
CBC	6721 El Colegio Drive	Goleta	CA	148		2006	1962	EPLP	51
Hope Ranch	3968-3974 & 3999 Via Lucero	Santa Barbara	CA	108		2007	1965/73	EPLP	48/40
			1%	347	306,608
Orange County
Anavia	2045 South State College Blvd.	Anaheim	CA	250	312,343	2010	2009	EPLP	4
Barkley Apartments	2400 E. Lincoln Ave.	Anahiem	CA	161	139,800	2000	1984	DownREIT	29
Valley Park Apartments	17300 Euclid Ave.	Fountain Valley	CA	160	169,700	2001	1969	DownREIT	44
Capri at Sunny Hills	2341 Daphne Place	Fullerton	CA	100	128,100	2001	1961	DownREIT	52
Haver Hill	3100 East Yorba Linda Boulevard	Fullerton	CA	264	224,130	2012	1973	Wesco III	40
Wilshire Promenade	141 West Wilshire Avenue	Fullerton	CA	149	128,000	1997	1992	EPLP	21
Montejo Apartments	12911 Dale St.	Garden Grove	CA	124	103,200	2001	1974	DownREIT	39
Huntington Breakers	21270 Beach Boulevard	Huntington Beach	CA	342	241,700	1997	1984	EPLP	29
The Huntington	8400 Edinger Avenue	Huntington Beach	CA	276	202,256	2012	1975	EPLP	38
Axis 2300	2300 DuPont Drive	Irvine	CA	115	170,714	2010	2010	EPLP	3
Hillsborough Park	1501 South Beach Boulevard	La Habra	CA	235	215,500	1999	1999	EPLP	14
Trabuco Villas	25362 Mosswood Way	Lake Forest	CA	132	131,000	1997	1985	EPLP	28
Madrid Apartments	28401 Los Alisos Boulevard	Mission Viejo	CA	230	228,099	2012	2000	Wesco I	13
Fairway Apartments at Big Canyon	2 Pine Valley Lane	Newport Beach	CA	74	107,100	1999	1972	EPLP	41
Villa Angelina	201 E. Chapman Ave.	Placentia	CA	256	217,600	2001	1970	DownREIT	43
Brentwood Apartment Homes	2301 E. Santa Clara Ave.	Santa Ana	CA	140	154,800	2001	1970	DownREIT	43
Fairhaven Apartments	1300 E. Fairhaven	Santa Ana	CA	164	135,700	2001	1970	DownREIT	43
Essex Skyline at MacArthur Place	9 & 15 MacArthur Place	Santa Ana	CA	349	512,791	2010	2008	EPLP	5
			10%	3,521	3,522,533
San Diego County
Alpine Village	2055 Arnold Way	Alpine	CA	301	254,400	2002	1971	EPLP	42
Bonita Cedars	5155 Cedarwood Rd.	Bonita	CA	120	120,800	2002	1983	EPLP	30
Cambridge	660 F. St.	Chula Vista	CA	40	22,100	2002	1965	EPLP	48
Mesa Village	5265 Clairemont Mesa Blvd.	Clairemont	CA	133	43,600	2002	1963	EPLP	50
Mira Monte	10360 Maya Linda Rd.	Mira Mesa	CA	355	262,600	2002	1982	EPLP	31
Country Villas	283 Douglas Drive	Oceanside	CA	180	179,700	2002	1976	EPLP	37
Mission Hills	218 Rancho Del Oro	Oceanside	CA	282	244,000	2005	1984	EPLP	29
CentrePointe	6466 Friars Road	San Diego	CA	224	126,700	1997	1974	EPLP	39
Summit Park	8563 Lake Murray Blvd.	San Diego	CA	300	229,400	2002	1972	EPLP	41
Vista Capri - North	3277 Berger Ave.	San Diego	CA	106	51,800	2002	1975	EPLP	38
Shadow Point	9830 Dale Ave.	Spring Valley	CA	172	131,200	2002	1983	EPLP	30
			6%	2,213	1,666,300
Riverside County
Devonshire Apartments	2770 West Devonshire Ave.	Hemet	CA	276	207,200	2002	1988	EPLP	25
			1%	276	207,200
Total Southern California			45%	15,444	13,717,248				29
SEATTLE METRO AREA
Cedar Terrace	3205 115th Ave. NE	Bellevue	WA	180	174,200	2005	1984	EPLP	29
Courtyard Off Main	136 102nd Avenue SE	Bellevue	WA	109	108,388	2010	2000	EPLP	13
Emerald Ridge	3010 118th Avenue SE	Bellevue	WA	180	144,000	1994	1987	EPLP	26
Foothill Commons	13800 NE 9th Place	Bellevue	WA	388	288,300	1990	1978	EPLP	35
Palisades, The	13808 NE 12th	Bellevue	WA	192	159,700	1990	1977	EPLP	36
Sammamish View	16160 SE Eastgate Way	Bellevue	WA	153	133,500	1994	1986	EPLP	27
Woodland Commons	13700 NE 10th Place	Bellevue	WA	302	217,878	1990	1978	EPLP	35
Canyon Pointe	1630 228th St. SE	Bothell	WA	250	210,400	2003	1990	EPLP	23
Inglenook Court	14220 Juanita Drive, NE	Bothell	WA	224	183,600	1994	1985	EPLP	28
Salmon Run at Perry Creek	2109 228th Street SE	Bothell	WA	132	117,100	2000	2000	EPLP	13
Stonehedge Village	14690 143rd Blvd., NE	Bothell	WA	196	214,800	1997	1986	EPLP	27
Highlands at Wynhaven	1460 NE Hawthorne Street	Issaquah	WA	333	424,674	2008	2000	EPLP	13
Park Hill at Issaquah	22516 SE 56th Street	Issaquah	WA	245	277,700	1999	1999	EPLP	14
Wandering Creek	12910 SE 240th	Kent	WA	156	124,300	1995	1986	EPLP	27
Ascent	12062 Slater Avenue NE	Kirkland	WA	90	75,840	2012	1988	EPLP	25
Bridle Trails	6600 130th Avenue, NE	Kirkland	WA	108	99,700	1997	1986	EPLP	27
Evergreen Heights	12233 NE 131st Way	Kirkland	WA	200	188,300	1997	1990	EPLP	23
Corbella at Juanita Bay	9520 NE 120th Street	Kirkland	WA	169	103,339	2010	1978	EPLP	35
Montebello	12000 131st Lane NE	Kirkland	WA	248	272,734	2012	1996	EPLP	17
Laurels at Mill Creek	1110 164th Street SE	Mill Creek	WA	164	134,300	1996	1981	EPLP	32
Morning Run	18463 Blueberry Lane	Monroe	WA	222	221,786	2005	1991	Fund II	22
The Elliot at Mukilteo (fka Anchor Village)	9507 49th Avenue West	Mukilteo	WA	301	245,900	1997	1981	DownREIT	32
Castle Creek	7000 132nd Place, SE	Newcastle	WA	216	191,900	1998	1998	EPLP	15
Delano	7805, 7903 and 7935 170th Place NE	Redmond	WA	126	116,340	2011	2011/2005	EPLP	2/8
Elevation	17202-17325 NE 85th Place	Redmond	WA	157	138,916	2010	1986	EPLP	27
Vesta	18666 Redmond Way	Redmond	WA	440	381,675	2011	1998	Wesco I	15
Redmond Hill	6110 186th Place NE	Redmond	WA	442	350,275	2011	1985	Wesco I	28
Brighton Ridge	2307 NE 4th Street	Renton	WA	264	201,300	1996	1986	EPLP	27
Fairwood Pond	14700 SE Petrovitsky Rd.	Renton	WA	194	189,200	2004	1997	EPLP	16
Forest View	650 Duvall Ave. NE	Renton	WA	192	182,500	2003	1998	EPLP	15

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ESSEX PROPERTY TRUST, INC. APARTMENT COMMUNITIES

Real Estate Information as of May 1, 2013

					Square		Year	Year	Property	Age of
Property Name	Address	City	State	Units	Footage		Acquired	Built	Ownership	Property
Annaliese	118 6th Ave. N	Seattle	WA	56	48,216		2013	2009	EPLP	4
Eastlake 2851	2833 - 2851 Eastlake Avenue	Seattle	WA	133	234,086		2008	2008	Fund II	5
Fountain Court	2400 4th Street	Seattle	WA	320	207,000		2000	2000	EPLP	13
Joule	523 Broadway Avenue, East	Seattle	WA	295	191,109		2010	2010	JV - 99%	3
Linden Square	13530 Linden Avenue North	Seattle	WA	183	142,200		2000	1994	EPLP	19
Domaine	2483 Birch Avenue N	Seattle	WA	92	79,421		2012	2009	EPLP	4
Expo	100 Republican	Seattle	WA	275	191,290		2012	2012	JV - 50%	1
The Bernard	115 Warren Avenue North	Seattle	WA	63	43,151		2011	2008	EPLP	5
The Cairns	420 Yale Avenue	Seattle	WA	100	70,806		2007	2006	EPLP	7
Wharfside Pointe	3811 14th Avenue West	Seattle	WA	142	119,200		1994	1990	EPLP	23
Total Seattle Metro Area			24%	8,232	7,199,024					20
166	Apartment Communities		100%	34,343	29,980,860	(1)
8	Apartment Communities Under Construction			2,220	1,853,985	(2)
Avg. square footage	873			Definitions for Property Ownership
Avg. units per property	207		EPLP	The Company has a 100% ownership in the community.
Avg. age of property	26		Fund II	The community is owned by Fund II.  The Company has a 28.2% interest in Fund II which is accounted for using the equity method of accounting.
			Wesco I	The community is owned by Wesco I, LLC.  The Company has a 50% interest in Wesco I, LLC, which is accounted for using the equity method of accounting.
(1) Includes 321,077 square feet of retail or commercial space			Wesco III	The community is owned by Wesco III, LLC.  The Company has a 50% interest in Wesco III, LLC, which is accounted for using the equity method of accounting.
(2) Includes 30,225 square feet of estimated retail or commercial space			DownREIT	The Company holds a 1% special limited partner interest in the partnerships which owns the community.  In accordance with GAAP, the Company consolidates this community.
			JV - 99%	The Company has a 99% ownership in this development and is consolidated.
			JV - 81.5%	The Company has a 81.5% ownership in this community and is consolidated.
			JV-55%	The Company has a 55.0% ownership in this community and is not consolidated.
			JV - 50%	The Company has a 50% ownership in this community and is not consolidated.
OTHER REAL ESTATE ASSETS
Office/Retail Buildings
Essex Corporate Headquarter Bldg.	925 / 935 E. Meadow Dr.	Palo Alto	CA		31,900		1997 / 2007	1988 / 1962	EPLP
Derian Office Building	17461 Derian Av.	Irvine	CA		110,000		2000	1983	EPLP
Hollywood	6230 Sunset Blvd.	Los Angeles	CA		35,000		2006	1938	EPLP
Santa Clara Retail	3700 El Camino Real	Santa Clara	CA		139,000		2011	1970	EPLP
					315,900

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