8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 205490

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 12, 2005

CAMDEN PROPERTY TRUST
(Exact name of registrant as specified in its charter)

TEXAS

(State or other jurisdiction of
incorporation or organization) 1-12110

(Commission file number) 76-6088377

(I.R.S. Employer
Identification Number)

Three Greenway Plaza, Suite 1300, Houston, Texas 77046
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (713) 354-2500

Not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[]     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[]     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[]     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01     Regulation FD Disclosure.

         On January 12, 2005, Camden Property Trust (the "Company") issued a press release announcing its redemption of $17.5 million of its 8.25% Series C Cumulative Convertible Redeemable Perpetual Preferred Units pursuant to the provisions of the Third Amended and Restated Agreement of Limited Partnership of Camden Operating L.P. A copy of the press release is furnished as Exhibit 99.1 to this report. This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01      Financial Statements and Exhibits.

            (c)     Exhibits.

                       99.1      Press Release issued by Camden Property Trust dated January 12, 2005.

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:    January 12, 2005

CAMDEN PROPERTY TRUST

By: /s/ Dennis M. Steen
- ---------------------------------------------
Dennis M. Steen
Senior Vice President - Finance, Chief
Financial Officer and Secretary

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EX-99.I

EXHIBIT 99.1

CAMDEN PROPERTY TRUST ANNOUNCES REDEMPTION OF
8.25% SERIES C PREFERRED UNITS

Houston, TEXAS (January 12, 2005) – Camden Property Trust (NYSE:CPT) announced today that it has redeemed the remaining $17.5 million of its 8.25% Series C Cumulative Convertible Redeemable Perpetual Preferred Units pursuant to the Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P. The holder of the 700,000 Series C Preferred Units received cash equal to $25.00 per unit plus accrued and unpaid distributions.

In connection with the issuance of the Series C Preferred Units, the Company incurred $0.4 million in issuance costs and recorded such costs as a reduction to minority interests. In accordance with generally accepted accounting principles, the Company will reflect the $0.4 million of issuance costs as a reduction of earnings in arriving at both consolidated net income and funds from operations for the first quarter of 2005.

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which Camden operates, management’s beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict.

Camden Property Trust is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. Camden owns interests in and operates 144 properties containing 51,456 apartment homes in the Sunbelt and Midwestern markets from Florida to California. Upon completion of three properties under development, the Company’s portfolio will increase to 52,570 apartment homes in 147 properties.

For additional information, please contact Camden’s Investor Relations Department at (800) 922-6336 or (713) 354-2787 or access our Web site at http://www.camdenliving.com.