Camden_Property_Trust

Camden Property Trust

Camden Property Trust

Real estate investment trust

Camden Property Trust is a publicly-traded real estate investment trust that invests in apartments in the United States. As of November 30, 2021, the company owned interests in 171 apartment communities containing 58,588 apartment homes in the United States.[1]

Quick Facts Company type, Traded as ...

The name of the company is derived from the last names of its founders, Richard J. Campo and D. Keith Oden.[2]

The company is ranked 8th by Fortune on its list of the "Best Companies To Work For".[3]

History

In 1981, Richard J. Campo and D. Keith Oden bought the failing Houston condominium business of their employer and reorganized it into a REIT.[2]

In 1993, the company became a public company via an initial public offering.[2]

In 1997, the company acquired Paragon Group, which owned 17,000 apartment units, in a $615 million transaction.[4][5]

In 1998, the company acquired Oasis Residential for $542 million in stock and the assumption of $430 million in debt.[6]

In 2005, the company acquired Summit Properties in a $1.1 billion transaction.[7][8][9]

In 2011, the company acquired 8 properties in Texas for $261 million.[10][11]

In 2012, the company purchased the 80% interest held by a joint venture partner in 12 communities for $99.5 million.[12]

In 2016, the company sold its portfolio of properties in Nevada, which included 15 communities with 4,918 apartment units, for $630 million.[13] The company also sold a 444-unit property in Tampa, Florida for $58 million.[14]

As of 2017, Camden Property Trust owned and managed 8,424 flats in Houston and more than 52,000 across the US, receiving significant tenant growth in the wake of Hurricane Harvey.[15]

In 2019, the company acquired four communities with 1,380 apartment homes, including properties in Houston and Raleigh, North Carolina.[16]

In 2022, the company owned, managed and developed 178 multifamily properties comprising 60,652 apartment homes in the US (Arizona, California, Colorado, Florida, Georgia, North Carolina, Texas, Washington DC). Six properties under construction comprising 1,950 apartment homes of which six properties under construction comprising 1,950 apartment homes.[17]

References

  1. [1]
    "Camden Property Trust 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. [2]
    Tkaczyk, Christopher (June 2, 2014). "Pass go, collect dough with Camden Property Trust". Fortune.
  3. [3]
    "Forbes Best Companies To Work For". Fortune.
  4. [4]
    Garrison, Trey (April 27, 1997). "Houston REIT acquires Paragon Group in $615 million merger". American City Business Journals.
  5. [5]
    "CAMDEN PROPERTY TRUST TO ACQUIRE PARAGON GROUP". The New York Times. Bloomberg News. December 17, 1996.
  6. [6]
    Levine, Phil (December 23, 1999). "Three Oasis apartment complexes in Las Vegas to be sold by March". Las Vegas Sun.
  7. [7]
    "Camden Property Trust Completes Merger with Summit Properties Inc. and Exchange of Units of Limited Partnership Interest in Camden Summit Partnership, L.P." (Press release). Business Wire. February 28, 2005.
  8. [8]
    Smith, Ray A. (October 6, 2004). "Camden Property Agrees To Acquire Summit Properties". The Wall Street Journal.
  9. [9]
    "Camden Property Trust acquires Summit Properties". American City Business Journals. March 1, 2005.
  10. [10]
    "Camden Property Trust Announces Acquisition Activity" (Press release). Business Wire. June 30, 2011.
  11. [11]
    "Camden acquires 8 Texas apartment complexes". American City Business Journals. July 1, 2011.
  12. [12]
    "Camden Property Trust Purchases Remaining Interests in Joint Ventures". National Real Estate Investor. January 12, 2012.
  13. [13]
    Takahashi, Paul (April 26, 2016). "Camden sells off $630M apartment portfolio". American City Business Journals.
  14. [14]
    Kritzer, Ashley Gurbal (August 11, 2016). "Broker who sold $58M Tampa apartments: 'It's prime time for those types of deals'". American City Business Journals.
  15. [15]
    "Real estate investment trust sees business booming post-Hurricane Harvey". CNBC. Archived from the original on 2023-05-31. Retrieved 2024-03-25.
  16. [16]
    "Camden Property Trust Announces Recent Acquisition and Disposition Activity" (Press release). Business Wire. December 30, 2019.
  17. [17]
    "Camden Property Trust: Overview". GlobalData. Archived from the original on 2024-03-25. Retrieved 2024-03-25.
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