Camden Property Trust
TypePublic company
IndustryReal estate investment trust
Founded1981 (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$1.043 billion (2020)
Decrease US$123 million (2020)
Total assetsIncrease US$7.198 billion (2020)
Total equityDecrease US$3.516 billion (2020)
Number of employees
1,700 (2020)
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 November 30, 2021, the company owned interests in 171 apartment communities containing 58,588 apartment homes in the United States.[1]

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]

In 2019, the company acquired four communities with 1,380 apartment homes, including properties in Houston and Raleigh, North Carolina.[15]

References

  1. 1 2 "Camden Property Trust 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 3 Tkaczyk, Christopher (June 2, 2014). "Pass go, collect dough with Camden Property Trust". Fortune.
  3. ↑ "Forbes Best Companies To Work For". 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. ↑ 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. ↑ "Camden Property Trust Announces Recent Acquisition and Disposition Activity" (Press release). Business Wire. December 30, 2019.
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