Camden Property Trust

Camden Property Trust
Public company
Traded as NYSE: CPT
S&P 400 component
Industry Real estate investment trust
Founder Richard J. Campo
D. Keith Oden
Headquarters 11 Greenway Plaza
Houston, Texas
Key people
 Richard J. Campo, Chairman & CEO
D. Keith Oden, President
Products Apartments
Revenue Increase $0.900 billion (2017)
Decrease $0.196 billion (2017)
Total assets Increase $6.173 billion (2017)
Total equity Increase $3.484 billion (2017)
Number of employees
 1,600 (2017)
Website www.camdenliving.com
Footnotes / references
[1]

Camden Property Trust is a real estate investment trust that invests in apartments in the United States. As of December 31, 2017, the company owned interests in 162 apartment communities containing 55,143 apartment units.[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 24th 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 condo 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]

References

  1. 1 2 "Camden Property Trust 2017 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 #22". 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. (subscription required)
  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. ↑ Heschmeyer, Mark (May 2, 2016). "Leaving Las Vegas: Camden Property Trust Sells Entire Nevada Portfolio to Oaktree/Bascom JV". CoStar Group.
  14. ↑ Sellers, Heather (September 14, 2016). "Camden Property Trust Sells 444-Unit Tampa Woods Apts". CoStar Group.
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