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Camden Property Trust

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Camden Property Trust
Company typePublic company
IndustryReal estate investment trust
Founded1981; 43 years ago (1981)
Founders
  • Richard J. Campo
  • D. Keith Oden
Headquarters11 Greenway Plaza
Houston, Texas, U.S.
Key people
Richard J. Campo (Chairman & CEO)
D. Keith Oden (Executive Vice Chairman)
Alexander J. Jessett (CFO)
ProductsApartments
RevenueIncrease US$1.542 billion (2023)
Decrease US$403 million (2023)
Total assetsIncrease US$9.383 billion (2023)
Total equityDecrease US$5.051 billion (2023)
Number of employees
approx. 1,640 (December 2023)
Websitecamdenliving.com
Footnotes / references
[1]

Camden Property Trust is a publicly-traded real estate investment trust that invests in apartments in the United States. As of December 31, 2023, the company owned interests in 176 apartment communities containing 59,800 apartment homes in the United States.[1] It is the 14th largest owner of apartments in the United States.[2]

The name of the company is derived from the last names of its founders, Richard J. Campo and D. Keith Oden.[3]

History

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In 1981, Richard J. Campo and D. Keith Oden bought the failing Houston condominium business of their employer and reorganized it into a REIT.[3]

In 1993, the company became a public company via an initial public offering.[3]

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]

In 2022, the company acquired the remaining ownership interests in its joint venture with Teacher Retirement System of Texas.[14]

References

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  1. ^ a b "Camden Property Trust 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 22, 2024.
  2. ^ "NMHC 50 Largest Apartment Owners". National Multifamily Housing Council.
  3. ^ a b c Tkaczyk, Christopher (June 2, 2014). "Pass go, collect dough with Camden Property Trust". Fortune.
  4. ^ Garrison, Trey (April 27, 1997). "Houston REIT acquires Paragon Group in $615 million merger". American City Business Journals.
  5. ^ "CAMDEN PROPERTY TRUST TO ACQUIRE PARAGON GROUP". The New York Times. Bloomberg News. December 17, 1996.
  6. ^ Levine, Phil (December 23, 1999). "Three Oasis apartment complexes in Las Vegas to be sold by March". Las Vegas Sun.
  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. ^ Smith, Ray A. (October 6, 2004). "Camden Property Agrees To Acquire Summit Properties". The Wall Street Journal.
  9. ^ "Camden Property Trust acquires Summit Properties". American City Business Journals. March 1, 2005.
  10. ^ "Camden Property Trust Announces Acquisition Activity" (Press release). Business Wire. June 30, 2011.
  11. ^ "Camden acquires 8 Texas apartment complexes". American City Business Journals. July 1, 2011.
  12. ^ "Camden Property Trust Purchases Remaining Interests in Joint Ventures". National Real Estate Investor. January 12, 2012.
  13. ^ Takahashi, Paul (April 26, 2016). "Camden sells off $630M apartment portfolio". American City Business Journals.
  14. ^ "Camden Property Trust Announces Acquisition of Fund Partnership Interests" (Press release). Business Wire. March 18, 2022.
[edit]
  • Official website
  • Business data for Camden Property Trust:
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