Camden Property (CPT) announces recent acquisitions.
Camden Property Trust (CPT) announced today that it had acquired two newer properties for approximately $222 million.
- In Houston, CPT acquired a luxury 522-unit apartment community and adjacent 2.25 acre development site. The community - to be renamed Camden Highland Village - includes a mix of mid-rise buildings and three-story townhomes. The property was completed in 2015 and "features upscale interior finishes...and provides convenient access to restaurants, retail, and employment hubs."
- In Raleigh, the company acquired a 186-home luxury mid-rise property completed in 2017. The community will be renamed Camden Carolinian.
"We are pleased to announce the acquisition of these premier assets, located in extremely desirable submarkets within Camden's core markets," said Richard Campo, Camden's Chairman and CEO. Camden also announced that it had sold three properties in Corpus Christi for $75 million, representing the company's exit from that market.
Founded in 1982, Camden Property Trust (CPT) is one of the largest owner/developers of Class-A apartment properties in the U.S. with a current portfolio of 172 properties and 58,314 apartment units. Camden has a total market capitalization of approximately $13.7 billion and is a member of the S&P MidCap 400 Index.