About Camden Development, Inc.

Camden Property Trust hums along by investing in, developing, and operating middle-market and luxury apartment complexes in about a dozen states. The real estate investment trust (REIT), which sports a hummingbird logo, has about 190 urban and suburban properties with some 62,000 apartment units. Its portfolio is made up of both wholly owned and joint-venture holdings; most communities carry the Camden name. Around a quarter of the REIT's properties are in Texas, but the company also has a presence in other top markets such as Atlanta, Denver, Florida, Las Vegas, North Carolina, Phoenix, Southern California, and Washington, DC.


Camden's properties typically consist of two- and three-story buildings with controlled-access gates, swimming pools, a clubhouse, and fitness facilities. Each property has at least 200 apartments; the largest has about 900. Its average occupancy rate is 95% , and each apartment averages about 930 square feet of living space. Its communities are less than 15 years old.

In addition, Camden provides construction management and general contracting services for third-party investors developing commercial, retail, and residential properties.

Financial Performance

Overall revenues shot up 26% year-over-year in 2012 to $821 million due to a 17% increase in rental revenue and a 24% increase in property management fees. The average price of rent grew from $970 in 2011 to $1,045 in 2012.

Profits also grew from $56 million in 2011 to $286 million in 2012 after Camden realized gains on some of its joint ventures and some other properties during the year.


The multifamily property market has proven to be rather resilient after the economic downturn. Much of that is due to a limited supply of new properties being developed or built and a continuing decline in homeownership rates. The company counts people ages 18 to 35 as its core customers as they have the highest propensity to rent, and it sees this demographic growing.

Camden actively manages its property portfolio by regularly developing and acquiring properties and by selling complexes and undeveloped land. It bought about 20 new properties during 2012 that added another 6,400 apartments to its portfolio. At the same time, however, it sold about a dozen apartment complexes that totaled 5,600 apartments.

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Camden Development, Inc.

11 Greenway Plz Ste 2400
Houston, TX 77046-1124
Phone: 1 (713) 354-2500


  • Employer Type: Public
  • Pres-trust Mgr: D K Oden
  • Sr V Pres-cfo-sec: Dennis M Steen
  • Executive Vice President: Malcolm Stewart

Major Office Locations

  • Houston, TX

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