HOUSTON – (Realty News Report) – Camden Property Trust, a Houston-based multifamily real estate investment trust (REIT), was added to the S&P 500 index on Monday, marking a significant milestone for the company.
Led by CEO Ric Campo, Camden Property Trust owns and operates 175 apartment communities comprising roughly 60,000 residential units across the United States. The company’s common stock trades on the New York Stock Exchange. Inclusion in the S&P 500 reflects Camden’s growth and standing among the nation’s leading publicly traded companies.
Camden Acquires Teacher Retirement System’s Fund Interests for Approximately $1.1 Billion
Camden also announced the purchase of all remaining partnership interests in its two discretionary investment funds from the Teacher Retirement System of Texas (TRS), effective April 1. The transaction covered 22 multifamily communities totaling 7,247 apartment homes, with an average property age of about 12 years. The funds’ gross asset value was approximately $2.1 billion.
Before the deal, Camden owned 31.3% of the funds’ interests and acquired the remaining 68.7% through this transaction. After accounting for the assumption of approximately $520 million in secured mortgage debt, the total consideration for acquiring TRS’s interests was roughly $1.1 billion.
Camden Expands into Build-to-Rent Single-Family Housing
Camden has also moved into the rapidly growing build-to-rent (BTR) sector, which focuses on single-family rental communities that typically include private yards and suburban amenities. Investor demand for BTR has been strong, driven by renter preferences for single-family layouts and neighborhood-style living.
In the Houston market, Camden is developing a 200-home BTR community at the Grand Center at Long Meadow Farms in Richmond, as well as a 188-home BTR community in The Woodlands. These developments reflect Camden’s strategic expansion into suburban, single-family rental stock alongside its core multifamily portfolio.
On Monday, Camden’s shares closed at $168.99, down $2.61 for the session.
April 4, 2021 Realty News Report. Copyright 2022.
File: Houston’s Camden Property Joins the S&P 500
Caption: Camden Vanderbilt multifamily property on Buffalo Speedway was built in the 1990s. Photo credit: Ralph Bivins, Realty News Report. Copyright 2022.
File: (2) REIT. Houston’s Camden Property Joins the S&P 500 CPT. NYSE