CAMDEN | TABLE OF CONTENTS | |||||||
Page | |||||
Press Release Text | |||||
Financial Highlights | |||||
Operating Results | |||||
Funds from Operations | |||||
Balance Sheets | |||||
Portfolio Statistics | |||||
Components of Property Net Operating Income | |||||
Sequential Components of Property Net Operating Income | |||||
"Same Property" Fourth Quarter Comparisons | |||||
"Same Property" Sequential Quarter Comparisons | |||||
"Same Property" Year to Date Comparisons | |||||
"Same Property" Operating Expense Detail & Comparisons | |||||
Current Development Communities | |||||
Development Pipeline | |||||
Acquisitions and Dispositions | |||||
Debt Analysis | |||||
Debt Maturity Analysis | |||||
Debt Covenant Analysis | |||||
Capitalized Expenditures & Maintenance Expense | |||||
2023 Financial Outlook | |||||
Non-GAAP Financial Measures - Definitions & Reconciliations | |||||
Other Data | |||||
Community Table |
Three Months Ended | Twelve Months Ended | |||||||||||||
December 31, | December 31, | |||||||||||||
Per Diluted Share | 2022 | 2021 | 2022 | 2021 | ||||||||||
EPS(1)(2) | $0.42 | $2.02 | $6.04 | $2.96 | ||||||||||
FFO(1) | $1.74 | $1.51 | $6.59 | $5.39 | ||||||||||
AFFO(1) | $1.48 | $1.30 | $5.76 | $4.68 |
Quarterly Growth | Sequential Growth | Year-To-Date Growth | |||||||||
Same Property Results | 4Q22 vs. 4Q21 | 4Q22 vs. 3Q22 | 2022 vs. 2021 | ||||||||
Revenues | 9.9% | 0.8% | 11.2% | ||||||||
Expenses(1) | 8.1% | (3.9)% | 5.1% | ||||||||
Net Operating Income ("NOI")(1) | 10.9% | 3.3% | 14.6% |
Same Property Results | 4Q22 | 4Q21 | 3Q22 | ||||||||
Occupancy | 95.8% | 97.1% | 96.6% |
New Lease and Renewal Data - Date Signed (1) | January 2023* | January 2022 | 4Q22 | 4Q21 | ||||||||||
New Lease Rates | 2.0% | 16.5% | 4.0% | 16.7% | ||||||||||
Renewal Rates | 7.3% | 13.5% | 8.4% | 14.2% | ||||||||||
Blended Rates | 4.2% | 14.9% | 6.1% | 15.5% | ||||||||||
New Lease and Renewal Data - Date Effective (2) | January 2023* | January 2022 | 4Q22 | 4Q21 | ||||||||||
New Lease Rates | 1.2% | 16.6% | 5.3% | 17.7% | ||||||||||
Renewal Rates | 8.4% | 15.0% | 10.1% | 13.6% | ||||||||||
Blended Rates | 4.8% | 15.8% | 7.6% | 15.7% |
Occupancy and Turnover Data | January 2023* | January 2022 | 4Q22 | 4Q21 | ||||||||||
Occupancy | 95.4% | 97.1% | 95.8% | 97.1% | ||||||||||
Annualized Gross Turnover | 42% | 43% | 44% | 42% | ||||||||||
Annualized Net Turnover | 34% | 37% | 37% | 36% |
Total | Total | % Leased | ||||||||||||
Community Name | Location | Homes | Cost | as of 1/30/2023 | ||||||||||
Camden Atlantic | Plantation, FL | 269 | $100.2 | 87 | % | |||||||||
Total | Total | % Leased | ||||||||||||
Community Name | Location | Homes | Estimated Cost | as of 1/30/2023 | ||||||||||
Camden Tempe II | Tempe, AZ | 397 | $115.0 | 50 | % | |||||||||
Camden NoDa | Charlotte, NC | 387 | 108.0 | |||||||||||
Camden Durham | Durham, NC | 420 | 145.0 | |||||||||||
Camden Village District | Raleigh, NC | 369 | 138.0 | |||||||||||
Camden Woodmill Creek | The Woodlands, TX | 189 | 75.0 | |||||||||||
Camden Long Meadow Farms | Richmond, TX | 188 | 80.0 | |||||||||||
Total | 1,950 | $661.0 |
1Q23 | 2023 | ||||||||||
Per Diluted Share | Range | Range | Midpoint | ||||||||
EPS | $0.36 - $0.40 | $1.53 - $1.83 | $1.68 | ||||||||
FFO | $1.63- $1.67 | $6.70 - $7.00 | $6.85 |
2022 FFO per share - actual | $ | 6.59 | |||
5% Same store NOI growth | 0.36 | ||||
Additional NOI from Fund acquisition | 0.26 | ||||
Growth in other non-same store/development communities | 0.16 | ||||
Increased interest expense | (0.21) | ||||
2022 Amortization of net below market leases - Fund acquisition | (0.07) | ||||
2022 Equity in income of joint ventures and management fees - Fund | (0.07) | ||||
Higher overhead expenses | (0.06) | ||||
Additional shares outstanding for full year 2023 | (0.06) | ||||
Other - 2022 Chirp earnout and 2022 disposition | (0.05) | ||||
2023 FFO per share - midpoint guidance | $ | 6.85 |
2023 | |||||||||||
Same Property Growth | Range | Midpoint | |||||||||
Revenues | 4.10% - 6.10% | 5.10% | |||||||||
Expenses | 4.75% - 6.25% | 5.50% | |||||||||
NOI | 3.50% - 6.50% | 5.00% |
CAMDEN | FINANCIAL HIGHLIGHTS | |||||||
(In thousands, except per share, property data amounts and ratios) | ||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
Property revenues | $375,909 | $305,364 | $1,422,756 | $1,143,585 | |||||||||||||
Adjusted EBITDA | 226,163 | 182,036 | 842,352 | 648,097 | |||||||||||||
Net income attributable to common shareholders | 45,709 | 212,898 | 653,613 | 303,907 | |||||||||||||
Per share - basic | 0.42 | 2.03 | 6.07 | 2.97 | |||||||||||||
Per share - diluted | 0.42 | 2.02 | 6.04 | 2.96 | |||||||||||||
Funds from operations | 191,576 | 160,170 | 719,612 | 559,350 | |||||||||||||
Per share - diluted | 1.74 | 1.51 | 6.59 | 5.39 | |||||||||||||
Adjusted funds from operations | 162,543 | 137,772 | 628,897 | 485,747 | |||||||||||||
Per share - diluted | 1.48 | 1.30 | 5.76 | 4.68 | |||||||||||||
Dividends per share | 0.94 | 0.83 | 3.76 | 3.32 | |||||||||||||
Dividend payout ratio (FFO) | 54.0 | % | 55.0 | % | 57.1 | % | 61.6 | % | |||||||||
Interest expensed | 30,668 | 24,582 | 113,424 | 97,297 | |||||||||||||
Interest capitalized | 4,554 | 3,917 | 18,097 | 16,688 | |||||||||||||
Total interest incurred | 35,222 | 28,499 | 131,521 | 113,985 | |||||||||||||
Net Debt to Annualized Adjusted EBITDA (a) | 4.1x | 3.8x | 4.1x | 4.4x | |||||||||||||
Interest expense coverage ratio | 7.4x | 7.4x | 7.4x | 6.7x | |||||||||||||
Total interest coverage ratio | 6.4x | 6.4x | 6.4x | 5.7x | |||||||||||||
Fixed charge expense coverage ratio | 7.4x | 7.4x | 7.4x | 6.7x | |||||||||||||
Total fixed charge coverage ratio | 6.4x | 6.4x | 6.4x | 5.7x | |||||||||||||
Unencumbered real estate assets (at cost) to unsecured debt ratio | 3.4x | 3.3x | 3.4x | 3.3x | |||||||||||||
Same property NOI growth (b) | 10.9 | % | 14.9 | % | 14.6 | % | 4.8 | % | |||||||||
(# of apartment homes included) | 46,151 | 44,122 | 46,151 | 44,122 | |||||||||||||
Gross turnover of apartment homes (annualized) | 44 | % | 40 | % | 50 | % | 49 | % | |||||||||
Net turnover (excludes on-site transfers and transfers to other Camden communities) | 37 | % | 35 | % | 43 | % | 41 | % | |||||||||
As of December 31, | |||||||||||||||||
2022 | 2021 | ||||||||||||||||
Total assets | $9,327,935 | $7,976,784 | |||||||||||||||
Total debt | $3,680,913 | $3,170,367 | |||||||||||||||
Common and common equivalent shares, outstanding end of period (c) | 110,135 | 106,970 | |||||||||||||||
Share price, end of period | $111.88 | $178.68 | |||||||||||||||
Book equity value, end of period (d) | $5,056,921 | $4,266,255 | |||||||||||||||
Market equity value, end of period (e) | $12,321,904 | $19,113,400 |
CAMDEN | OPERATING RESULTS | |||||||
(In thousands, except per share amounts) | ||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
OPERATING DATA | |||||||||||||||||
Property revenues (a) | $375,909 | $305,364 | $1,422,756 | $1,143,585 | |||||||||||||
Property expenses (b) | |||||||||||||||||
Property operating and maintenance | 81,233 | 67,343 | 315,737 | 267,703 | |||||||||||||
Real estate taxes | 45,896 | 35,711 | 182,344 | 149,322 | |||||||||||||
Total property expenses | 127,129 | 103,054 | 498,081 | 417,025 | |||||||||||||
Non-property income | |||||||||||||||||
Fee and asset management | 931 | 2,815 | 5,188 | 10,532 | |||||||||||||
Interest and other income | 138 | 191 | 3,019 | 1,223 | |||||||||||||
Income/(loss) on deferred compensation plans | 8,813 | 5,186 | (19,637) | 14,369 | |||||||||||||
Total non-property income/(loss) | 9,882 | 8,192 | (11,430) | 26,124 | |||||||||||||
Other expenses | |||||||||||||||||
Property management | 7,373 | 7,139 | 28,601 | 26,339 | |||||||||||||
Fee and asset management | 426 | 1,201 | 2,516 | 4,511 | |||||||||||||
General and administrative | 15,887 | 14,940 | 60,413 | 59,368 | |||||||||||||
Interest | 30,668 | 24,582 | 113,424 | 97,297 | |||||||||||||
Depreciation and amortization | 147,271 | 116,503 | 577,020 | 420,692 | |||||||||||||
Expense/(benefit) on deferred compensation plans | 8,813 | 5,186 | (19,637) | 14,369 | |||||||||||||
Total other expenses | 210,438 | 169,551 | 762,337 | 622,576 | |||||||||||||
Gain on sale of operating properties | — | 174,384 | 36,372 | 174,384 | |||||||||||||
Gain on acquisition of unconsolidated joint venture interests | — | — | 474,146 | — | |||||||||||||
Equity in income of joint ventures | — | 3,125 | 3,048 | 9,777 | |||||||||||||
Income from continuing operations before income taxes | 48,224 | 218,460 | 664,474 | 314,269 | |||||||||||||
Income tax expense | (753) | (601) | (2,966) | (1,893) | |||||||||||||
Net income | 47,471 | 217,859 | 661,508 | 312,376 | |||||||||||||
Less income allocated to non-controlling interests | (1,762) | (4,961) | (7,895) | (8,469) | |||||||||||||
Net income attributable to common shareholders | $45,709 | $212,898 | $653,613 | $303,907 | |||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||||||||||||
Net income | $47,471 | $217,859 | $661,508 | $312,376 | |||||||||||||
Other comprehensive income | |||||||||||||||||
Unrealized gain and unamortized prior service cost on post retirement obligation | 489 | 154 | 489 | 154 | |||||||||||||
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation | 369 | 373 | 1,476 | 1,490 | |||||||||||||
Comprehensive income | 48,329 | 218,386 | 663,473 | 314,020 | |||||||||||||
Less income allocated to non-controlling interests | (1,762) | (4,961) | (7,895) | (8,469) | |||||||||||||
Comprehensive income attributable to common shareholders | $46,567 | $213,425 | $655,578 | $305,551 | |||||||||||||
PER SHARE DATA | |||||||||||||||||
Total earnings per common share - basic | $0.42 | $2.03 | $6.07 | $2.97 | |||||||||||||
Total earnings per common share - diluted | 0.42 | 2.02 | 6.04 | 2.96 | |||||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||
Basic | 108,467 | 104,611 | 107,605 | 101,999 | |||||||||||||
Diluted | 108,512 | 105,448 | 108,388 | 102,829 |
CAMDEN | FUNDS FROM OPERATIONS | |||||||
(In thousands, except per share and property data amounts) | ||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
FUNDS FROM OPERATIONS | |||||||||||||||||
Net income attributable to common shareholders (a) | $45,709 | $212,898 | $653,613 | $303,907 | |||||||||||||
Real estate depreciation and amortization | 144,105 | 114,007 | 565,913 | 410,767 | |||||||||||||
Adjustments for unconsolidated joint ventures | — | 2,688 | 2,709 | 10,591 | |||||||||||||
Income allocated to non-controlling interests | 1,762 | 4,961 | 7,895 | 8,469 | |||||||||||||
Gain on sale of operating property | — | (174,384) | (36,372) | (174,384) | |||||||||||||
Gain on acquisition of unconsolidated joint venture interests | — | — | (474,146) | — | |||||||||||||
Funds from operations | $191,576 | $160,170 | $719,612 | $559,350 | |||||||||||||
Less: recurring capitalized expenditures (b) | (29,033) | (22,398) | (90,715) | (73,603) | |||||||||||||
Adjusted funds from operations | $162,543 | $137,772 | $628,897 | $485,747 | |||||||||||||
PER SHARE DATA | |||||||||||||||||
Funds from operations - diluted | $1.74 | $1.51 | $6.59 | $5.39 | |||||||||||||
Adjusted funds from operations - diluted | 1.48 | 1.30 | 5.76 | 4.68 | |||||||||||||
Distributions declared per common share | 0.94 | 0.83 | 3.76 | 3.32 | |||||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||
FFO/AFFO - diluted | 110,117 | 106,322 | 109,261 | 103,747 | |||||||||||||
PROPERTY DATA | |||||||||||||||||
Total operating properties (end of period) (c) | 172 | 171 | 172 | 171 | |||||||||||||
Total operating apartment homes in operating properties (end of period) (c) | 58,702 | 58,300 | 58,702 | 58,300 | |||||||||||||
Total operating apartment homes (weighted average) | 58,621 | 51,313 | 56,566 | 50,479 | |||||||||||||
CAMDEN | BALANCE SHEETS | |||||||
(In thousands) | ||||||||
Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | |||||||||||||
ASSETS | |||||||||||||||||
Real estate assets, at cost | |||||||||||||||||
Land | $1,716,273 | $1,706,396 | $1,695,118 | $1,343,209 | $1,349,594 | ||||||||||||
Buildings and improvements | 10,674,619 | 10,574,820 | 10,440,037 | 8,651,674 | 8,624,734 | ||||||||||||
12,390,892 | 12,281,216 | 12,135,155 | 9,994,883 | 9,974,328 | |||||||||||||
Accumulated depreciation | (3,848,111) | (3,709,487) | (3,572,764) | (3,436,969) | (3,358,027) | ||||||||||||
Net operating real estate assets | 8,542,781 | 8,571,729 | 8,562,391 | 6,557,914 | 6,616,301 | ||||||||||||
Properties under development, including land | 524,981 | 529,076 | 581,844 | 488,100 | 474,739 | ||||||||||||
Investments in joint ventures | — | — | — | 13,181 | 13,730 | ||||||||||||
Total real estate assets | 9,067,762 | 9,100,805 | 9,144,235 | 7,059,195 | 7,104,770 | ||||||||||||
Accounts receivable – affiliates | 13,364 | 13,258 | 13,258 | 13,258 | 18,664 | ||||||||||||
Other assets, net (a) | 229,371 | 231,645 | 249,865 | 254,763 | 234,370 | ||||||||||||
Cash and cash equivalents | 10,687 | 62,027 | 72,095 | 1,129,716 | 613,391 | ||||||||||||
Restricted cash | 6,751 | 6,390 | 6,563 | 5,778 | 5,589 | ||||||||||||
Total assets | $9,327,935 | $9,414,125 | $9,486,016 | $8,462,710 | $7,976,784 | ||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||
Liabilities | |||||||||||||||||
Notes payable | |||||||||||||||||
Unsecured | $3,165,924 | $3,173,198 | $3,222,252 | $3,671,309 | $3,170,367 | ||||||||||||
Secured | 514,989 | 514,843 | 514,698 | — | — | ||||||||||||
Accounts payable and accrued expenses | 211,370 | 212,558 | 195,070 | 169,973 | 191,651 | ||||||||||||
Accrued real estate taxes | 95,551 | 125,210 | 86,952 | 36,988 | 66,673 | ||||||||||||
Distributions payable | 103,628 | 103,620 | 103,621 | 100,880 | 88,786 | ||||||||||||
Other liabilities (b) | 179,552 | 176,334 | 186,143 | 197,021 | 193,052 | ||||||||||||
Total liabilities | 4,271,014 | 4,305,763 | 4,308,736 | 4,176,171 | 3,710,529 | ||||||||||||
Equity | |||||||||||||||||
Common shares of beneficial interest | 1,156 | 1,156 | 1,156 | 1,127 | 1,126 | ||||||||||||
Additional paid-in capital | 5,897,454 | 5,893,623 | 5,890,792 | 5,396,267 | 5,363,530 | ||||||||||||
Distributions in excess of net income attributable to common shareholders | (581,532) | (525,127) | (452,865) | (848,074) | (829,453) | ||||||||||||
Treasury shares | (328,684) | (329,027) | (328,975) | (329,521) | (333,974) | ||||||||||||
Accumulated other comprehensive loss (c) | (1,774) | (2,632) | (3,001) | (3,370) | (3,739) | ||||||||||||
Total common equity | 4,986,620 | 5,037,993 | 5,107,107 | 4,216,429 | 4,197,490 | ||||||||||||
Non-controlling interests | 70,301 | 70,369 | 70,173 | 70,110 | 68,765 | ||||||||||||
Total equity | 5,056,921 | 5,108,362 | 5,177,280 | 4,286,539 | 4,266,255 | ||||||||||||
Total liabilities and equity | $9,327,935 | $9,414,125 | $9,486,016 | $8,462,710 | $7,976,784 | ||||||||||||
(a) Includes net deferred charges of: | $8,413 | $8,961 | $307 | $693 | $969 | ||||||||||||
(b) Includes deferred revenues of: | $304 | $331 | $358 | $384 | $334 | ||||||||||||
(c) Represents the unrealized net loss and unamortized prior service costs on post retirement obligations, and unrealized net loss on cash flow hedging activities. | |||||||||||||||||
CAMDEN | PORTFOLIO STATISTICS | |||||||
"Same Property" | Non-"Same Property" | Completed in Lease-up | Under Construction | Grand Total | |||||||||||||
D.C. Metro (a) | 5,911 | 281 | — | — | 6,192 | ||||||||||||
Houston, TX | 6,127 | 3,027 | — | 377 | 9,531 | ||||||||||||
Phoenix, AZ | 3,686 | 343 | — | 397 | 4,426 | ||||||||||||
Atlanta, GA | 3,970 | 892 | — | — | 4,862 | ||||||||||||
Dallas, TX | 4,416 | 1,808 | — | — | 6,224 | ||||||||||||
Los Angeles/Orange County, CA | 2,373 | 290 | — | — | 2,663 | ||||||||||||
SE Florida | 2,376 | 405 | 269 | — | 3,050 | ||||||||||||
Orlando, FL | 2,995 | 959 | — | — | 3,954 | ||||||||||||
Denver, CO | 2,640 | 233 | — | — | 2,873 | ||||||||||||
Tampa, FL | 2,286 | 818 | — | — | 3,104 | ||||||||||||
Charlotte, NC | 2,838 | 266 | — | 387 | 3,491 | ||||||||||||
Raleigh, NC | 2,542 | 710 | — | 789 | 4,041 | ||||||||||||
San Diego/Inland Empire, CA | 1,665 | 132 | — | — | 1,797 | ||||||||||||
Austin, TX | 2,326 | 1,360 | — | — | 3,686 | ||||||||||||
Nashville, TN | — | 758 | — | — | 758 | ||||||||||||
Total Portfolio | 46,151 | 12,282 | 269 | 1,950 | 60,652 |
FOURTH QUARTER NOI CONTRIBUTION PERCENTAGE BY REGION | WEIGHTED AVERAGE OCCUPANCY FOR THE QUARTER ENDED (c) | |||||||||||||||||||||||||
"Same Property" Communities | Operating Communities (b) | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | ||||||||||||||||||||
D.C. Metro (a) | 14.6 | % | 12.3 | % | 96.4 | % | 96.9 | % | 97.0 | % | 97.0 | % | 97.4 | % | ||||||||||||
Houston, TX | 10.1 | % | 11.8 | % | 95.1 | % | 95.9 | % | 96.0 | % | 96.0 | % | 96.2 | % | ||||||||||||
Phoenix, AZ | 9.2 | % | 8.1 | % | 95.1 | % | 95.0 | % | 95.3 | % | 96.3 | % | 97.0 | % | ||||||||||||
Atlanta, GA | 8.1 | % | 7.9 | % | 94.7 | % | 96.1 | % | 96.3 | % | 96.4 | % | 96.3 | % | ||||||||||||
Dallas, TX | 7.2 | % | 8.4 | % | 95.7 | % | 96.6 | % | 96.9 | % | 97.2 | % | 97.3 | % | ||||||||||||
Los Angeles/Orange County, CA | 6.7 | % | 6.1 | % | 96.0 | % | 97.2 | % | 97.6 | % | 97.8 | % | 98.1 | % | ||||||||||||
SE Florida | 6.6 | % | 6.3 | % | 96.2 | % | 96.6 | % | 97.6 | % | 97.9 | % | 98.0 | % | ||||||||||||
Orlando, FL | 5.8 | % | 6.1 | % | 96.2 | % | 97.2 | % | 98.0 | % | 97.8 | % | 97.7 | % | ||||||||||||
Denver, CO | 6.5 | % | 5.8 | % | 96.1 | % | 96.6 | % | 96.8 | % | 96.5 | % | 96.5 | % | ||||||||||||
Tampa, FL | 5.5 | % | 6.4 | % | 96.7 | % | 97.3 | % | 97.9 | % | 97.5 | % | 97.4 | % | ||||||||||||
Charlotte, NC | 5.9 | % | 5.3 | % | 95.8 | % | 96.6 | % | 96.6 | % | 96.8 | % | 96.6 | % | ||||||||||||
Raleigh, NC | 5.0 | % | 5.0 | % | 95.7 | % | 96.0 | % | 96.3 | % | 96.7 | % | 96.7 | % | ||||||||||||
San Diego/Inland Empire, CA | 4.6 | % | 3.9 | % | 96.1 | % | 97.2 | % | 97.7 | % | 98.0 | % | 97.4 | % | ||||||||||||
Austin, TX | 4.2 | % | 5.2 | % | 95.5 | % | 96.4 | % | 96.9 | % | 97.3 | % | 97.5 | % | ||||||||||||
Nashville, TN | — | % | 1.4 | % | 96.9 | % | 97.1 | % | 96.6 | % | 96.6 | % | 97.0 | % | ||||||||||||
Total Portfolio | 100.0 | % | 100.0 | % | 95.7 | % | 96.5 | % | 96.8 | % | 96.9 | % | 97.0 | % |
CAMDEN | COMPONENTS OF PROPERTY | |||||||
NET OPERATING INCOME | ||||||||
(In thousands, except property data amounts) | ||||||||
Apartment | Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||||||||||||||
Property Revenues | Homes | 2022 | 2021 | Change | 2022 | 2021 | Change | ||||||||||||||||||||||||||||||||||
"Same Property" Communities (a) | 46,151 | $294,492 | $267,854 | $26,638 | $1,144,659 | $1,029,585 | $115,074 | ||||||||||||||||||||||||||||||||||
Non-"Same Property" Communities (b) | 12,282 | 77,186 | 31,081 | 46,105 | 264,784 | 82,553 | 182,231 | ||||||||||||||||||||||||||||||||||
Development and Lease-Up Communities (c) | 2,219 | 1,746 | — | 1,746 | 2,173 | — | 2,173 | ||||||||||||||||||||||||||||||||||
Disposition/Other (d) | — | 2,485 | 6,429 | (3,944) | 11,140 | 31,447 | (20,307) | ||||||||||||||||||||||||||||||||||
Total Property Revenues | 60,652 | $375,909 | $305,364 | $70,545 | $1,422,756 | $1,143,585 | $279,171 | ||||||||||||||||||||||||||||||||||
Property Expenses | |||||||||||||||||||||||||||||||||||||||||
"Same Property" Communities (a) | 46,151 | $96,917 | $89,691 | $7,226 | $391,455 | $372,600 | $18,855 | ||||||||||||||||||||||||||||||||||
Non-"Same Property" Communities (b) | 12,282 | 28,473 | 10,843 | 17,630 | 100,163 | 31,512 | 68,651 | ||||||||||||||||||||||||||||||||||
Development and Lease-Up Communities (c) | 2,219 | 721 | — | 721 | 918 | (8) | 926 | ||||||||||||||||||||||||||||||||||
Hurricane Expenses (e) | — | — | — | — | 1,000 | — | 1,000 | ||||||||||||||||||||||||||||||||||
Disposition/Other (d) | — | 1,018 | 2,520 | (1,502) | 4,545 | 12,921 | (8,376) | ||||||||||||||||||||||||||||||||||
Total Property Expenses | 60,652 | $127,129 | $103,054 | $24,075 | $498,081 | $417,025 | $81,056 | ||||||||||||||||||||||||||||||||||
Property Net Operating Income | |||||||||||||||||||||||||||||||||||||||||
"Same Property" Communities (a) | 46,151 | $197,575 | $178,163 | $19,412 | $753,204 | $656,985 | $96,219 | ||||||||||||||||||||||||||||||||||
Non-"Same Property" Communities (b) | 12,282 | 48,713 | 20,238 | 28,475 | 164,621 | 51,041 | 113,580 | ||||||||||||||||||||||||||||||||||
Development and Lease-Up Communities (c) | 2,219 | 1,025 | — | 1,025 | 1,255 | 8 | 1,247 | ||||||||||||||||||||||||||||||||||
Hurricane Expenses (e) | — | — | — | — | (1,000) | — | (1,000) | ||||||||||||||||||||||||||||||||||
Disposition/Other (d) | — | 1,467 | 3,909 | (2,442) | 6,595 | 18,526 | (11,931) | ||||||||||||||||||||||||||||||||||
Total Property Net Operating Income | 60,652 | $248,780 | $202,310 | $46,470 | $924,675 | $726,560 | $198,115 | ||||||||||||||||||||||||||||||||||
CAMDEN | COMPONENTS OF PROPERTY | |||||||
SEQUENTIAL NET OPERATING INCOME | ||||||||
(In thousands, except property data amounts) | ||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
Apartment | December 31, | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
Property Revenues | Homes | 2022 | 2022 | 2022 | 2022 | 2021 | |||||||||||||||||||||||||||||
"Same Property" Communities (a) | 46,151 | $294,492 | $292,151 | $283,418 | $274,598 | $267,854 | |||||||||||||||||||||||||||||
Non-"Same Property" Communities (b) | 12,282 | 77,186 | 78,725 | 75,795 | 33,078 | 31,081 | |||||||||||||||||||||||||||||
Development and Lease-Up Communities (c) | 2,219 | 1,746 | 407 | 20 | — | — | |||||||||||||||||||||||||||||
Disposition/Other (d) | — | 2,485 | 2,489 | 2,483 | 3,683 | 6,429 | |||||||||||||||||||||||||||||
Total Property Revenues | 60,652 | $375,909 | $373,772 | $361,716 | $311,359 | $305,364 | |||||||||||||||||||||||||||||
Property Expenses | |||||||||||||||||||||||||||||||||||
"Same Property" Communities (a) | 46,151 | $96,917 | $100,873 | $98,120 | $95,545 | $89,691 | |||||||||||||||||||||||||||||
Non-"Same Property" Communities (b) | 12,282 | 28,473 | 29,746 | 28,683 | 13,261 | 10,843 | |||||||||||||||||||||||||||||
Development and Lease-Up Communities (c) | 2,219 | 721 | 177 | 20 | — | — | |||||||||||||||||||||||||||||
Hurricane Expenses (e) | — | — | 1,000 | — | — | — | |||||||||||||||||||||||||||||
Disposition/Other (d) | — | 1,018 | 1,035 | 988 | 1,504 | 2,520 | |||||||||||||||||||||||||||||
Total Property Expenses | 60,652 | $127,129 | $132,831 | $127,811 | $110,310 | $103,054 | |||||||||||||||||||||||||||||
Property Net Operating Income | |||||||||||||||||||||||||||||||||||
"Same Property" Communities (a) | 46,151 | $197,575 | $191,278 | $185,298 | $179,053 | $178,163 | |||||||||||||||||||||||||||||
Non-"Same Property" Communities (b) | 12,282 | 48,713 | 48,979 | 47,112 | 19,817 | 20,238 | |||||||||||||||||||||||||||||
Development and Lease-Up Communities (c) | 2,219 | 1,025 | 230 | — | — | — | |||||||||||||||||||||||||||||
Hurricane Expenses (e) | — | — | (1,000) | — | — | — | |||||||||||||||||||||||||||||
Disposition/Other (d) | — | 1,467 | 1,454 | 1,495 | 2,179 | 3,909 | |||||||||||||||||||||||||||||
Total Property Net Operating Income | 60,652 | $248,780 | $240,941 | $233,905 | $201,049 | $202,310 | |||||||||||||||||||||||||||||
CAMDEN | "SAME PROPERTY" | |||||||
FOURTH QUARTER COMPARISONS | ||||||||
December 31, 2022 | ||||||||
(In thousands, except property data amounts) | ||||||||
Apartment | |||||||||||||||||||||||||||||||||||||||||
Homes | Revenues | Expenses | NOI | ||||||||||||||||||||||||||||||||||||||
Quarterly Results (a)(b) | Included | 4Q22 | 4Q21 | Growth | 4Q22 | 4Q21 | Growth | 4Q22 | 4Q21 | Growth | |||||||||||||||||||||||||||||||
D.C. Metro | 5,911 | $41,924 | $39,071 | 7.3 | % | $13,083 | $12,086 | 8.2 | % | $28,841 | $26,985 | 6.9 | % | ||||||||||||||||||||||||||||
Houston, TX | 6,127 | 33,467 | 31,356 | 6.7 | % | 13,479 | 12,284 | 9.7 | % | 19,988 | 19,072 | 4.8 | % | ||||||||||||||||||||||||||||
Phoenix, AZ | 3,686 | 24,277 | 21,811 | 11.3 | % | 6,013 | 5,711 | 5.3 | % | 18,264 | 16,100 | 13.4 | % | ||||||||||||||||||||||||||||
Atlanta, GA | 3,970 | 24,460 | 22,763 | 7.5 | % | 8,418 | 8,283 | 1.6 | % | 16,042 | 14,480 | 10.8 | % | ||||||||||||||||||||||||||||
SE Florida | 2,376 | 19,681 | 16,919 | 16.3 | % | 6,699 | 5,857 | 14.4 | % | 12,982 | 11,062 | 17.4 | % | ||||||||||||||||||||||||||||
Los Angeles/Orange County, CA | 2,373 | 18,765 | 18,424 | 1.9 | % | 5,594 | 5,474 | 2.2 | % | 13,171 | 12,950 | 1.7 | % | ||||||||||||||||||||||||||||
Dallas, TX | 4,416 | 23,991 | 21,572 | 11.2 | % | 9,788 | 8,368 | 17.0 | % | 14,203 | 13,204 | 7.6 | % | ||||||||||||||||||||||||||||
Denver, CO | 2,640 | 17,774 | 15,921 | 11.6 | % | 4,842 | 4,649 | 4.2 | % | 12,932 | 11,272 | 14.7 | % | ||||||||||||||||||||||||||||
Charlotte, NC | 2,838 | 16,244 | 14,399 | 12.8 | % | 4,621 | 4,421 | 4.5 | % | 11,623 | 9,978 | 16.5 | % | ||||||||||||||||||||||||||||
Orlando, FL | 2,995 | 17,723 | 15,267 | 16.1 | % | 6,192 | 5,377 | 15.2 | % | 11,531 | 9,890 | 16.6 | % | ||||||||||||||||||||||||||||
Tampa, FL | 2,286 | 15,999 | 13,629 | 17.4 | % | 5,074 | 4,766 | 6.5 | % | 10,925 | 8,863 | 23.3 | % | ||||||||||||||||||||||||||||
San Diego/Inland Empire, CA | 1,665 | 12,811 | 12,115 | 5.7 | % | 3,718 | 3,546 | 4.9 | % | 9,093 | 8,569 | 6.1 | % | ||||||||||||||||||||||||||||
Raleigh, NC | 2,542 | 13,504 | 12,082 | 11.8 | % | 3,845 | 3,822 | 0.6 | % | 9,659 | 8,260 | 16.9 | % | ||||||||||||||||||||||||||||
Austin, TX | 2,326 | 13,872 | 12,525 | 10.8 | % | 5,551 | 5,047 | 10.0 | % | 8,321 | 7,478 | 11.3 | % | ||||||||||||||||||||||||||||
Total Same Property | 46,151 | $294,492 | $267,854 | 9.9 | % | $96,917 | $89,691 | 8.1 | % | $197,575 | $178,163 | 10.9 | % |
Weighted Average Monthly | Weighted Average Monthly | ||||||||||||||||||||||||||||||||||||||||
% of NOI | Average Occupancy (a) | Rental Rate (b) | Revenue per Occupied Home (c) | ||||||||||||||||||||||||||||||||||||||
Quarterly Results (b) | Contribution | 4Q22 | 4Q21 | Growth | 4Q22 | 4Q21 | Growth | 4Q22 | 4Q21 | Growth | |||||||||||||||||||||||||||||||
D.C. Metro | 14.6 | % | 96.5 | % | 97.5 | % | (1.0) | % | $2,143 | $1,970 | 8.8 | % | $2,450 | $2,262 | 8.3 | % | |||||||||||||||||||||||||
Houston, TX | 10.1 | % | 95.2 | % | 95.8 | % | (0.6) | % | 1,668 | 1,555 | 7.3 | % | 1,912 | 1,781 | 7.3 | % | |||||||||||||||||||||||||
Phoenix, AZ | 9.2 | % | 95.2 | % | 97.0 | % | (1.8) | % | 1,975 | 1,737 | 13.7 | % | 2,306 | 2,038 | 13.1 | % | |||||||||||||||||||||||||
Atlanta, GA | 8.1 | % | 95.4 | % | 96.8 | % | (1.4) | % | 1,886 | 1,701 | 10.9 | % | 2,152 | 1,975 | 8.9 | % | |||||||||||||||||||||||||
SE Florida | 6.6 | % | 96.2 | % | 98.2 | % | (2.0) | % | 2,546 | 2,122 | 20.0 | % | 2,869 | 2,425 | 18.3 | % | |||||||||||||||||||||||||
Los Angeles/Orange County, CA | 6.7 | % | 96.5 | % | 98.0 | % | (1.5) | % | 2,657 | 2,421 | 9.7 | % | 2,731 | 2,641 | 3.4 | % | |||||||||||||||||||||||||
Dallas, TX | 7.2 | % | 95.5 | % | 97.5 | % | (2.0) | % | 1,646 | 1,432 | 14.9 | % | 1,895 | 1,673 | 13.2 | % | |||||||||||||||||||||||||
Denver, CO | 6.5 | % | 96.1 | % | 96.4 | % | (0.3) | % | 2,018 | 1,807 | 11.7 | % | 2,335 | 2,086 | 11.9 | % | |||||||||||||||||||||||||
Charlotte, NC | 5.9 | % | 95.8 | % | 96.7 | % | (0.9) | % | 1,736 | 1,509 | 15.0 | % | 1,992 | 1,751 | 13.7 | % | |||||||||||||||||||||||||
Orlando, FL | 5.8 | % | 96.5 | % | 97.7 | % | (1.2) | % | 1,788 | 1,503 | 19.0 | % | 2,044 | 1,741 | 17.3 | % | |||||||||||||||||||||||||
Tampa, FL | 5.5 | % | 96.7 | % | 97.7 | % | (1.0) | % | 2,116 | 1,769 | 19.6 | % | 2,413 | 2,037 | 18.4 | % | |||||||||||||||||||||||||
San Diego/Inland Empire, CA | 4.6 | % | 96.2 | % | 97.4 | % | (1.2) | % | 2,496 | 2,237 | 11.6 | % | 2,664 | 2,491 | 6.9 | % | |||||||||||||||||||||||||
Raleigh, NC | 5.0 | % | 95.7 | % | 97.1 | % | (1.4) | % | 1,583 | 1,381 | 14.6 | % | 1,851 | 1,635 | 13.2 | % | |||||||||||||||||||||||||
Austin, TX | 4.2 | % | 95.3 | % | 97.3 | % | (2.0) | % | 1,825 | 1,596 | 14.3 | % | 2,083 | 1,846 | 12.8 | % | |||||||||||||||||||||||||
Total Same Property | 100.0 | % | 95.8 | % | 97.1 | % | (1.3) | % | $1,953 | $1,733 | 12.7 | % | $2,218 | $1,994 | 11.2 | % |
CAMDEN | "SAME PROPERTY" | |||||||
SEQUENTIAL QUARTER COMPARISONS | ||||||||
December 31, 2022 | ||||||||
(In thousands, except property data amounts) | ||||||||
Apartment | |||||||||||||||||||||||||||||||||||||||||
Homes | Revenues | Expenses (a) | NOI | ||||||||||||||||||||||||||||||||||||||
Quarterly Results (a)(b) | Included | 4Q22 | 3Q22 | Growth | 4Q22 | 3Q22 | Growth | 4Q22 | 3Q22 | Growth | |||||||||||||||||||||||||||||||
D.C. Metro | 5,911 | $41,924 | $41,703 | 0.5 | % | $13,083 | $12,988 | 0.7 | % | $28,841 | $28,715 | 0.4 | % | ||||||||||||||||||||||||||||
Houston, TX | 6,127 | 33,467 | 33,607 | (0.4) | % | 13,479 | 15,417 | (12.6) | % | 19,988 | 18,190 | 9.9 | % | ||||||||||||||||||||||||||||
Phoenix, AZ | 3,686 | 24,277 | 23,839 | 1.8 | % | 6,013 | 6,340 | (5.2) | % | 18,264 | 17,499 | 4.4 | % | ||||||||||||||||||||||||||||
Atlanta, GA | 3,970 | 24,460 | 24,656 | (0.8) | % | 8,418 | 8,524 | (1.2) | % | 16,042 | 16,132 | (0.6) | % | ||||||||||||||||||||||||||||
SE Florida | 2,376 | 19,681 | 19,188 | 2.6 | % | 6,699 | 6,505 | 3.0 | % | 12,982 | 12,683 | 2.4 | % | ||||||||||||||||||||||||||||
Los Angeles/Orange County, CA | 2,373 | 18,765 | 18,964 | (1.0) | % | 5,594 | 5,952 | (6.0) | % | 13,171 | 13,012 | 1.2 | % | ||||||||||||||||||||||||||||
Dallas, TX | 4,416 | 23,991 | 23,837 | 0.6 | % | 9,788 | 10,167 | (3.7) | % | 14,203 | 13,670 | 3.9 | % | ||||||||||||||||||||||||||||
Denver, CO | 2,640 | 17,774 | 17,556 | 1.2 | % | 4,842 | 5,023 | (3.6) | % | 12,932 | 12,533 | 3.2 | % | ||||||||||||||||||||||||||||
Charlotte, NC | 2,838 | 16,244 | 15,929 | 2.0 | % | 4,621 | 4,844 | (4.6) | % | 11,623 | 11,085 | 4.9 | % | ||||||||||||||||||||||||||||
Orlando, FL | 2,995 | 17,723 | 17,380 | 2.0 | % | 6,192 | 6,122 | 1.1 | % | 11,531 | 11,258 | 2.4 | % | ||||||||||||||||||||||||||||
Tampa, FL | 2,286 | 15,999 | 15,507 | 3.2 | % | 5,074 | 5,161 | (1.7) | % | 10,925 | 10,346 | 5.6 | % | ||||||||||||||||||||||||||||
San Diego/Inland Empire, CA | 1,665 | 12,811 | 12,772 | 0.3 | % | 3,718 | 3,843 | (3.3) | % | 9,093 | 8,929 | 1.8 | % | ||||||||||||||||||||||||||||
Raleigh, NC | 2,542 | 13,504 | 13,384 | 0.9 | % | 3,845 | 4,070 | (5.5) | % | 9,659 | 9,314 | 3.7 | % | ||||||||||||||||||||||||||||
Austin, TX | 2,326 | 13,872 | 13,829 | 0.3 | % | 5,551 | 5,917 | (6.2) | % | 8,321 | 7,912 | 5.2 | % | ||||||||||||||||||||||||||||
Total Same Property | 46,151 | $294,492 | $292,151 | 0.8 | % | $96,917 | $100,873 | (3.9) | % | $197,575 | $191,278 | 3.3 | % |
Weighted Average Monthly | Weighted Average Monthly | ||||||||||||||||||||||||||||||||||||||||
% of NOI | Average Occupancy (b) | Rental Rate (c) | Revenue per Occupied Home (d) | ||||||||||||||||||||||||||||||||||||||
Quarterly Results (b) | Contribution | 4Q22 | 3Q22 | Growth | 4Q22 | 3Q22 | Growth | 4Q22 | 3Q22 | Growth | |||||||||||||||||||||||||||||||
D.C. Metro | 14.6 | % | 96.5 | % | 96.9 | % | (0.4) | % | $2,143 | $2,104 | 1.9 | % | $2,450 | $2,426 | 0.9 | % | |||||||||||||||||||||||||
Houston, TX | 10.1 | % | 95.2 | % | 96.1 | % | (0.9) | % | 1,668 | 1,645 | 1.4 | % | 1,912 | 1,902 | 0.5 | % | |||||||||||||||||||||||||
Phoenix, AZ | 9.2 | % | 95.2 | % | 95.0 | % | 0.2 | % | 1,975 | 1,940 | 1.8 | % | 2,306 | 2,269 | 1.6 | % | |||||||||||||||||||||||||
Atlanta, GA | 8.1 | % | 95.4 | % | 96.6 | % | (1.2) | % | 1,886 | 1,847 | 2.1 | % | 2,152 | 2,142 | 0.4 | % | |||||||||||||||||||||||||
SE Florida | 6.6 | % | 96.2 | % | 96.6 | % | (0.4) | % | 2,546 | 2,459 | 3.5 | % | 2,869 | 2,786 | 3.0 | % | |||||||||||||||||||||||||
Los Angeles/Orange County, CA | 6.7 | % | 96.5 | % | 97.6 | % | (1.1) | % | 2,657 | 2,594 | 2.4 | % | 2,731 | 2,730 | 0.1 | % | |||||||||||||||||||||||||
Dallas, TX | 7.2 | % | 95.5 | % | 96.8 | % | (1.3) | % | 1,646 | 1,604 | 2.6 | % | 1,895 | 1,860 | 1.9 | % | |||||||||||||||||||||||||
Denver, CO | 6.5 | % | 96.1 | % | 96.6 | % | (0.5) | % | 2,018 | 1,973 | 2.3 | % | 2,335 | 2,295 | 1.7 | % | |||||||||||||||||||||||||
Charlotte, NC | 5.9 | % | 95.8 | % | 96.6 | % | (0.8) | % | 1,736 | 1,692 | 2.6 | % | 1,992 | 1,936 | 2.8 | % | |||||||||||||||||||||||||
Orlando, FL | 5.8 | % | 96.5 | % | 97.4 | % | (0.9) | % | 1,788 | 1,720 | 4.0 | % | 2,044 | 1,987 | 2.9 | % | |||||||||||||||||||||||||
Tampa, FL | 5.5 | % | 96.7 | % | 97.4 | % | (0.7) | % | 2,116 | 2,040 | 3.7 | % | 2,413 | 2,323 | 3.9 | % | |||||||||||||||||||||||||
San Diego/Inland Empire, CA | 4.6 | % | 96.2 | % | 97.2 | % | (1.0) | % | 2,496 | 2,429 | 2.8 | % | 2,664 | 2,631 | 1.3 | % | |||||||||||||||||||||||||
Raleigh, NC | 5.0 | % | 95.7 | % | 96.3 | % | (0.6) | % | 1,583 | 1,549 | 2.2 | % | 1,851 | 1,823 | 1.5 | % | |||||||||||||||||||||||||
Austin, TX | 4.2 | % | 95.3 | % | 96.4 | % | (1.1) | % | 1,825 | 1,784 | 2.3 | % | 2,083 | 2,054 | 1.4 | % | |||||||||||||||||||||||||
Total Same Property | 100.0 | % | 95.8 | % | 96.6 | % | (0.8) | % | $1,953 | $1,908 | 2.4 | % | $2,218 | $2,184 | 1.6 | % |
CAMDEN | "SAME PROPERTY" | |||||||
YEAR TO DATE COMPARISONS | ||||||||
December 31, 2022 | ||||||||
(In thousands, except property data amounts) | ||||||||
Apartment | |||||||||||||||||||||||||||||||||||||||||
Homes | Revenues | Expenses (a) | NOI | ||||||||||||||||||||||||||||||||||||||
Year to Date Results (a)(b) | Included | 2022 | 2021 | Growth | 2022 | 2021 | Growth | 2022 | 2021 | Growth | |||||||||||||||||||||||||||||||
D.C. Metro | 5,911 | $163,473 | $153,098 | 6.8 | % | $51,393 | $48,570 | 5.8 | % | $112,080 | $104,528 | 7.2 | % | ||||||||||||||||||||||||||||
Houston, TX | 6,127 | 131,740 | 122,414 | 7.6 | % | 58,253 | 56,339 | 3.4 | % | 73,487 | 66,075 | 11.2 | % | ||||||||||||||||||||||||||||
Phoenix, AZ | 3,686 | 94,385 | 82,065 | 15.0 | % | 24,653 | 23,568 | 4.6 | % | 69,732 | 58,497 | 19.2 | % | ||||||||||||||||||||||||||||
Atlanta, GA | 3,970 | 96,430 | 87,422 | 10.3 | % | 33,268 | 31,710 | 4.9 | % | 63,162 | 55,712 | 13.4 | % | ||||||||||||||||||||||||||||
SE Florida | 2,376 | 75,081 | 64,668 | 16.1 | % | 25,621 | 23,334 | 9.8 | % | 49,460 | 41,334 | 19.7 | % | ||||||||||||||||||||||||||||
Los Angeles/Orange County, CA | 2,373 | 75,278 | 69,795 | 7.9 | % | 22,961 | 22,659 | 1.3 | % | 52,317 | 47,136 | 11.0 | % | ||||||||||||||||||||||||||||
Dallas, TX | 4,416 | 92,860 | 83,438 | 11.3 | % | 38,785 | 37,061 | 4.7 | % | 54,075 | 46,377 | 16.6 | % | ||||||||||||||||||||||||||||
Denver, CO | 2,640 | 68,396 | 61,573 | 11.1 | % | 19,697 | 19,242 | 2.4 | % | 48,699 | 42,331 | 15.0 | % | ||||||||||||||||||||||||||||
Charlotte, NC | 2,838 | 62,254 | 55,268 | 12.6 | % | 18,646 | 17,891 | 4.2 | % | 43,608 | 37,377 | 16.7 | % | ||||||||||||||||||||||||||||
Orlando, FL | 2,995 | 67,587 | 58,572 | 15.4 | % | 23,989 | 21,853 | 9.8 | % | 43,598 | 36,719 | 18.7 | % | ||||||||||||||||||||||||||||
Tampa, FL | 2,286 | 60,597 | 51,415 | 17.9 | % | 20,425 | 18,946 | 7.8 | % | 40,172 | 32,469 | 23.7 | % | ||||||||||||||||||||||||||||
San Diego/Inland Empire, CA | 1,665 | 50,602 | 45,982 | 10.0 | % | 14,836 | 14,324 | 3.6 | % | 35,766 | 31,658 | 13.0 | % | ||||||||||||||||||||||||||||
Raleigh, NC | 2,542 | 52,073 | 46,003 | 13.2 | % | 15,862 | 15,650 | 1.4 | % | 36,211 | 30,353 | 19.3 | % | ||||||||||||||||||||||||||||
Austin, TX | 2,326 | 53,903 | 47,872 | 12.6 | % | 23,066 | 21,453 | 7.5 | % | 30,837 | 26,419 | 16.7 | % | ||||||||||||||||||||||||||||
Total Same Property | 46,151 | $1,144,659 | $1,029,585 | 11.2 | % | $391,455 | $372,600 | 5.1 | % | $753,204 | $656,985 | 14.6 | % |
Weighted Average Monthly | Weighted Average Monthly | ||||||||||||||||||||||||||||||||||||||||
% of NOI | Average Occupancy (b) | Rental Rate (c) | Revenue per Occupied Home (d) | ||||||||||||||||||||||||||||||||||||||
Year to Date Results (b) | Contribution | 2022 | 2021 | Growth | 2022 | 2021 | Growth | 2022 | 2021 | Growth | |||||||||||||||||||||||||||||||
D.C. Metro | 14.9 | % | 96.9 | % | 96.9 | % | 0.0 | % | $2,069 | $1,935 | 6.9 | % | $2,378 | $2,227 | 6.8 | % | |||||||||||||||||||||||||
Houston, TX | 9.8 | % | 95.8 | % | 95.0 | % | 0.8 | % | 1,623 | 1,509 | 7.6 | % | 1,871 | 1,752 | 6.8 | % | |||||||||||||||||||||||||
Phoenix, AZ | 9.3 | % | 95.5 | % | 97.0 | % | (1.5) | % | 1,905 | 1,623 | 17.4 | % | 2,234 | 1,917 | 16.5 | % | |||||||||||||||||||||||||
Atlanta, GA | 8.4 | % | 96.5 | % | 97.1 | % | (0.6) | % | 1,813 | 1,617 | 12.1 | % | 2,097 | 1,891 | 10.9 | % | |||||||||||||||||||||||||
SE Florida | 6.6 | % | 97.1 | % | 97.9 | % | (0.8) | % | 2,387 | 2,007 | 18.9 | % | 2,713 | 2,320 | 16.9 | % | |||||||||||||||||||||||||
Los Angeles/Orange County, CA | 6.9 | % | 97.4 | % | 97.4 | % | 0.0 | % | 2,562 | 2,352 | 8.9 | % | 2,715 | 2,516 | 7.9 | % | |||||||||||||||||||||||||
Dallas, TX | 7.2 | % | 96.6 | % | 96.8 | % | (0.2) | % | 1,562 | 1,375 | 13.6 | % | 1,814 | 1,626 | 11.5 | % | |||||||||||||||||||||||||
Denver, CO | 6.5 | % | 96.5 | % | 96.5 | % | 0.0 | % | 1,932 | 1,737 | 11.2 | % | 2,237 | 2,014 | 11.1 | % | |||||||||||||||||||||||||
Charlotte, NC | 5.8 | % | 96.5 | % | 96.4 | % | 0.1 | % | 1,642 | 1,446 | 13.6 | % | 1,895 | 1,684 | 12.5 | % | |||||||||||||||||||||||||
Orlando, FL | 5.8 | % | 97.4 | % | 97.2 | % | 0.2 | % | 1,671 | 1,434 | 16.5 | % | 1,931 | 1,677 | 15.2 | % | |||||||||||||||||||||||||
Tampa, FL | 5.2 | % | 97.5 | % | 97.7 | % | (0.2) | % | 1,981 | 1,645 | 20.4 | % | 2,268 | 1,922 | 18.1 | % | |||||||||||||||||||||||||
San Diego/Inland Empire, CA | 4.7 | % | 97.3 | % | 97.3 | % | 0.0 | % | 2,391 | 2,150 | 11.2 | % | 2,604 | 2,366 | 10.0 | % | |||||||||||||||||||||||||
Raleigh, NC | 4.8 | % | 96.5 | % | 97.0 | % | (0.5) | % | 1,505 | 1,312 | 14.7 | % | 1,770 | 1,556 | 13.7 | % | |||||||||||||||||||||||||
Austin, TX | 4.1 | % | 96.4 | % | 97.0 | % | (0.6) | % | 1,741 | 1,515 | 14.9 | % | 2,003 | 1,768 | 13.2 | % | |||||||||||||||||||||||||
Total Same Property | 100.0 | % | 96.6 | % | 96.8 | % | (0.2) | % | $1,868 | $1,662 | 12.4 | % | $2,139 | $1,921 | 11.4 | % |
CAMDEN | "SAME PROPERTY" OPERATING EXPENSE | |||||||
DETAIL AND COMPARISONS | ||||||||
December 31, 2022 | ||||||||
(In thousands) | ||||||||
% of Actual | |||||||||||||||||
4Q22 Operating | |||||||||||||||||
Quarterly Comparison (a) | 4Q22 | 4Q21 | $ Change | % Change | Expenses | ||||||||||||
Property taxes | $34,041 | $31,212 | $2,829 | 9.1 | % | 35.1 | % | ||||||||||
Salaries and Benefits for On-site Employees | 17,612 | 19,353 | (1,741) | (9.0) | % | 18.2 | % | ||||||||||
Utilities | 20,191 | 18,547 | 1,644 | 8.9 | % | 20.8 | % | ||||||||||
Repairs and Maintenance | 11,752 | 10,177 | 1,575 | 15.5 | % | 12.1 | % | ||||||||||
Property Insurance | 5,927 | 4,042 | 1,885 | 46.6 | % | 6.1 | % | ||||||||||
General and Administrative | 5,175 | 4,152 | 1,023 | 24.6 | % | 5.3 | % | ||||||||||
Marketing and Leasing | 1,277 | 1,440 | (163) | (11.3) | % | 1.3 | % | ||||||||||
Other | 942 | 768 | 174 | 22.7 | % | 1.1 | % | ||||||||||
Total Same Property | $96,917 | $89,691 | $7,226 | 8.1 | % | 100.0 | % |
% of Actual | |||||||||||||||||
4Q22 Operating | |||||||||||||||||
Sequential Comparison (a)(b) | 4Q22 | 3Q22 | $ Change | % Change | Expenses | ||||||||||||
Property taxes | $34,041 | $35,962 | ($1,921) | (5.3) | % | 35.1 | % | ||||||||||
Salaries and Benefits for On-site Employees | 17,612 | 17,968 | (356) | (2.0) | % | 18.2 | % | ||||||||||
Utilities | 20,191 | 20,530 | (339) | (1.7) | % | 20.8 | % | ||||||||||
Repairs and Maintenance | 11,752 | 12,974 | (1,222) | (9.4) | % | 12.1 | % | ||||||||||
Property Insurance | 5,927 | 6,242 | (315) | (5.0) | % | 6.1 | % | ||||||||||
General and Administrative | 5,175 | 4,944 | 231 | 4.7 | % | 5.3 | % | ||||||||||
Marketing and Leasing | 1,277 | 1,330 | (53) | (4.0) | % | 1.3 | % | ||||||||||
Other | 942 | 923 | 19 | 2.1 | % | 1.1 | % | ||||||||||
Total Same Property | $96,917 | $100,873 | ($3,956) | (3.9) | % | 100.0 | % |
% of Actual | ||||||||||||||||||||
2022 Operating | ||||||||||||||||||||
Year to Date Comparison (a)(c) | 2022 | 2021 | $ Change | % Change | Expenses | |||||||||||||||
Property taxes | $139,906 | $134,133 | $5,773 | 4.3 | % | 35.7 | % | |||||||||||||
Salaries and Benefits for On-site Employees | 73,121 | 76,641 | (3,520) | (4.6) | % | 18.7 | % | |||||||||||||
Utilities | 79,011 | 75,676 | 3,335 | 4.4 | % | 20.2 | % | |||||||||||||
Repairs and Maintenance | 48,957 | 43,947 | 5,010 | 11.4 | % | 12.4 | % | |||||||||||||
Property Insurance | 21,986 | 17,605 | 4,381 | 24.9 | % | 5.6 | % | |||||||||||||
General and Administrative | 19,381 | 15,206 | 4,175 | 27.5 | % | 5.0 | % | |||||||||||||
Marketing and Leasing | 5,321 | 5,927 | (606) | (10.2) | % | 1.4 | % | |||||||||||||
Other | 3,772 | 3,465 | 307 | 8.9 | % | 1.0 | % | |||||||||||||
Total Same Property | $391,455 | $372,600 | $18,855 | 5.1 | % | 100.0 | % | |||||||||||||
CAMDEN | CURRENT DEVELOPMENT COMMUNITIES | |||||||
Estimated/Actual Dates for | |||||||||||||||||||||||||||||||||||
Completed Communities in Lease-Up | Total | Total | Construction | Initial | Construction | Stabilized | As of 1/30/2023 | ||||||||||||||||||||||||||||
Homes | Cost | Start | Occupancy | Completion | Operations | % Leased | % Occupied | ||||||||||||||||||||||||||||
1. | Camden Atlantic | 269 | $100.2 | 3Q20 | 3Q22 | 4Q22 | 2Q23 | 87% | 77% | ||||||||||||||||||||||||||
Plantation, FL | |||||||||||||||||||||||||||||||||||
Total Completed Communities in Lease-Up | 269 | $100.2 | 87% | 77% | |||||||||||||||||||||||||||||||
Estimated/Actual Dates for | |||||||||||||||||||||||||||||||||||
Total | Total | Cost to | Amount | Construction | Initial | Construction | Stabilized | As of 1/30/2023 | |||||||||||||||||||||||||||
Development Communities | Homes | Estimated Cost | Date | in CIP | Start | Occupancy | Completion | Operations | % Leased | % Occupied | |||||||||||||||||||||||||
1. | Camden Tempe II | 397 | $115.0 | $101.3 | $34.1 | 3Q20 | 2Q22 | 3Q23 | 1Q25 | 50% | 46% | ||||||||||||||||||||||||
Tempe, AZ | |||||||||||||||||||||||||||||||||||
2. | Camden NoDa | 387 | 108.0 | 95.6 | 95.5 | 3Q20 | 1Q23 | 4Q23 | 1Q25 | ||||||||||||||||||||||||||
Charlotte, NC | |||||||||||||||||||||||||||||||||||
3. | Camden Durham | 420 | 145.0 | 82.6 | 82.6 | 1Q21 | 2Q23 | 2Q24 | 4Q25 | ||||||||||||||||||||||||||
Durham, NC | |||||||||||||||||||||||||||||||||||
4. | Camden Village District | 369 | 138.0 | 41.0 | 41.0 | 2Q22 | 3Q24 | 2Q25 | 4Q26 | ||||||||||||||||||||||||||
Raleigh, NC | |||||||||||||||||||||||||||||||||||
5. | Camden Woodmill Creek | 189 | 75.0 | 19.2 | 19.2 | 3Q22 | 3Q23 | 3Q24 | 4Q24 | ||||||||||||||||||||||||||
The Woodlands, TX | |||||||||||||||||||||||||||||||||||
6. | Camden Long Meadow Farms | 188 | 80.0 | 14.6 | 14.6 | 3Q22 | 3Q23 | 3Q24 | 4Q24 | ||||||||||||||||||||||||||
Richmond, TX | |||||||||||||||||||||||||||||||||||
Total Development Communities | 1,950 | $661.0 | $354.3 | $287.0 | 50% | 46% | |||||||||||||||||||||||||||||
Additional Development Pipeline and Land(a) | 238.0 | ||||||||||||||||||||||||||||||||||
Total Properties Under Development and Land (per Balance Sheet) | $525.0 | ||||||||||||||||||||||||||||||||||
NOI Contribution from Development Communities ($ in millions) | Cost to Date | 4Q22 NOI | |||||||||||||||||||||||||||||||||
Completed Communities in Lease-Up | $100.2 | $0.5 | |||||||||||||||||||||||||||||||||
Development Communities in Lease-Up | 101.3 | 0.5 | |||||||||||||||||||||||||||||||||
Total Development Communities NOI Contribution | $201.5 | $1.0 | |||||||||||||||||||||||||||||||||
CAMDEN | DEVELOPMENT PIPELINE | |||||||
Projected | Total | ||||||||||||||||
PIPELINE COMMUNITIES | Homes | Estimated Cost (a) | Cost to Date | ||||||||||||||
1. | Camden Blakeney | 349 | $120.0 | $21.7 | |||||||||||||
Charlotte, NC | |||||||||||||||||
2. | Camden South Charlotte | 420 | 135.0 | 24.8 | |||||||||||||
Charlotte, NC | |||||||||||||||||
3. | Camden Nations | 393 | 175.0 | 33.3 | |||||||||||||
Nashville, TN | |||||||||||||||||
4. | Camden Baker | 435 | 165.0 | 29.5 | |||||||||||||
Denver, CO | |||||||||||||||||
5. | Camden Highland Village II | 300 | 100.0 | 9.7 | |||||||||||||
Houston, TX | |||||||||||||||||
6. | Camden Gulch | 480 | 260.0 | 43.8 | |||||||||||||
Nashville, TN | |||||||||||||||||
7. | Camden Paces III | 350 | 100.0 | 20.6 | |||||||||||||
Atlanta, GA | |||||||||||||||||
8. | Camden Arts District | 354 | 150.0 | 41.1 | |||||||||||||
Los Angeles, CA | |||||||||||||||||
9. | Camden Downtown II | 271 | 145.0 | 13.5 | |||||||||||||
Houston, TX | |||||||||||||||||
Development Pipeline | 3,352 | $1,350.0 | $238.0 | ||||||||||||||
CAMDEN | ACQUISITIONS & DISPOSITIONS | |||||||
2022 Land Acquisitions | Location | Acres | Closing Date | ||||||||||||||||||||
1. | Camden Long Meadow Farms | Richmond, TX | 15.9 | 3/8/2022 | |||||||||||||||||||
2. | Camden Blakeney | Charlotte, NC | 21.7 | 4/7/2022 | |||||||||||||||||||
3. | Camden South Charlotte | Charlotte, NC | 20.9 | 4/7/2022 | |||||||||||||||||||
4. | Camden Nations | Nashville, TN | 3.8 | 6/8/2022 | |||||||||||||||||||
Total Land Acquisitions | 62.3 Acres | ||||||||||||||||||||||
Purchase Price | $71.0 | ||||||||||||||||||||||
Apartment | Weighted Average | ||||||||||||||||||||||
2022 Dispositions | Location | Homes | Monthly Rental Rate | Year Built | Closing Date | ||||||||||||||||||
1. | Camden Largo Town Center | Largo, MD | 245 Homes | $1,824 | 2000/2007 | 3/24/2022 | |||||||||||||||||
Total/Average Dispositions | 245 Homes | $1,824 | |||||||||||||||||||||
Sales Price | $71.9 | ||||||||||||||||||||||
Apartment | Weighted Average | ||||||||||||||||||||||
2022 Acquisitions of Joint Ventures(a) | Location | Homes | Monthly Rental Rate | Year Built | Closing Date | ||||||||||||||||||
1. | Camden Amber Oaks I | Austin, TX | 348 Homes | $1,499 | 2009 | 4/1/2022 | |||||||||||||||||
2. | Camden Amber Oaks II | Austin, TX | 244 Homes | 1,611 | 2012 | 4/1/2022 | |||||||||||||||||
3. | Camden Asbury Village | Raleigh, NC | 350 Homes | 1,594 | 2009 | 4/1/2022 | |||||||||||||||||
4. | Camden Brushy Creek | Cedar Park, TX | 272 Homes | 1,594 | 2008 | 4/1/2022 | |||||||||||||||||
5. | Camden Cypress Creek | Cypress, TX | 310 Homes | 1,544 | 2009 | 4/1/2022 | |||||||||||||||||
6. | Camden Cypress Creek II | Cypress, TX | 234 Homes | 1,569 | 2020 | 4/1/2022 | |||||||||||||||||
7. | Camden Design District | Dallas, TX | 355 Homes | 1,683 | 2009 | 4/1/2022 | |||||||||||||||||
8. | Camden Downs at Cinco Ranch | Katy, TX | 318 Homes | 1,552 | 2004 | 4/1/2022 | |||||||||||||||||
9. | Camden Grand Harbor | Katy, TX | 300 Homes | 1,422 | 2008 | 4/1/2022 | |||||||||||||||||
10. | Camden Heights | Houston, TX | 352 Homes | 1,627 | 2004 | 4/1/2022 | |||||||||||||||||
11. | Camden Northpointe | Tomball, TX | 384 Homes | 1,373 | 2008 | 4/1/2022 | |||||||||||||||||
12. | Camden Panther Creek | Frisco, TX | 295 Homes | 1,683 | 2009 | 4/1/2022 | |||||||||||||||||
13. | Camden Phipps | Atlanta, GA | 234 Homes | 1,812 | 1996 | 4/1/2022 | |||||||||||||||||
14. | Camden Riverwalk | Grapevine, TX | 600 Homes | 1,831 | 2008 | 4/1/2022 | |||||||||||||||||
15. | Camden Shadow Brook | Austin, TX | 496 Homes | 1,543 | 2009 | 4/1/2022 | |||||||||||||||||
16. | Camden South Capitol | Washington, DC | 281 Homes | 2,411 | 2013 | 4/1/2022 | |||||||||||||||||
17. | Camden Southline | Charlotte, NC | 266 Homes | 1,995 | 2015 | 4/1/2022 | |||||||||||||||||
18. | Camden Spring Creek | Spring, TX | 304 Homes | 1,467 | 2004 | 4/1/2022 | |||||||||||||||||
19. | Camden Visconti | Tampa, FL | 450 Homes | 2,049 | 2007 | 4/1/2022 | |||||||||||||||||
20. | Camden Waterford Lakes | Orlando, FL | 300 Homes | 1,884 | 2014 | 4/1/2022 | |||||||||||||||||
21. | Camden Woodson Park | Houston, TX | 248 Homes | 1,344 | 2008 | 4/1/2022 | |||||||||||||||||
22. | Camden Yorktown | Houston, TX | 306 Homes | 1,345 | 2008 | 4/1/2022 | |||||||||||||||||
Total/Average Acquisitions | 7,247 Homes | $1,661 | |||||||||||||||||||||
Gross Asset Valuation | $2,125 (b) | ||||||||||||||||||||||
CAMDEN | DEBT ANALYSIS | |||||||
(In thousands, except property data amounts) | ||||||||
Future Scheduled Repayments (a) | |||||||||||||||||||||||
Year | Amortization | Secured Maturities | Unsecured Maturities | Total | % of Total | Weighted Average Interest Rate on Maturing Debt (b) | |||||||||||||||||
2023 | ($3,367) | $— | $250,000 | $246,633 | 6.7 | % | 5.1 | % | |||||||||||||||
2024 | (2,663) | 19,122 | 540,000 | 556,459 | 15.1 | % | 4.2 | % | |||||||||||||||
2025(c) | (2,211) | — | 300,000 | 297,789 | 8.1 | % | 5.2 | % | |||||||||||||||
2026 | (2,015) | 190,885 | — | 188,870 | 5.1 | % | 5.9 | % | |||||||||||||||
2027 | (1,960) | 174,900 | — | 172,940 | 4.7 | % | 3.9 | % | |||||||||||||||
Thereafter | (5,803) | 132,025 | 2,050,000 | 2,176,222 | 59.2 | % | 3.4 | % | |||||||||||||||
Total Maturing Debt | ($18,019) | $516,932 | $3,140,000 | $3,638,913 | 98.9 | % | 4.0 | % | |||||||||||||||
Unsecured Line of Credit | $— | $— | $42,000 | $42,000 | 1.1 | % | 5.1 | % | |||||||||||||||
Total Debt | ($18,019) | $516,932 | $3,182,000 | $3,680,913 | 100.0 | % | 4.0 | % | |||||||||||||||
Weighted Average Maturity of Debt | 6.4 Years | ||||||||||||||||||||||
Weighted Average | |||||||||||||||||||||||
FLOATING vs. FIXED RATE DEBT: | Balance | % of Total | Interest Rate (b) | Time to Maturity | |||||||||||||||||||
Floating rate debt | $566,937 | 15.4 | % | 5.5% | 3.0 Years | ||||||||||||||||||
Fixed rate debt | 3,113,976 | 84.6 | % | 3.7% | 7.1 Years | ||||||||||||||||||
Total | $3,680,913 | 100.0 | % | 4.0% | 6.4 Years | ||||||||||||||||||
Weighted Average | |||||||||||||||||||||||
SECURED vs. UNSECURED DEBT: | Balance | % of Total | Interest Rate (b) | Time to Maturity | |||||||||||||||||||
Unsecured debt | $3,165,924 | 86.0 | % | 3.9% | 6.8 Years | ||||||||||||||||||
Secured debt | 514,989 | 14.0 | % | 4.7% | 4.1 Years | ||||||||||||||||||
Total | $3,680,913 | 100.0 | % | 4.0% | 6.4 Years | ||||||||||||||||||
REAL ESTATE ASSETS: (d) | Total Homes | % of Total | Total Cost | % of Total | 4Q22 NOI | % of Total | |||||||||||||||||
Unencumbered real estate assets | 53,405 | 88.1 | % | $10,834,964 | 83.9% | $222,860 | 89.6 | % | |||||||||||||||
Encumbered real estate assets | 7,247 | 11.9 | % | 2,080,909 | 16.1% | 25,920 | 10.4 | % | |||||||||||||||
Total | 60,652 | 100.0 | % | $12,915,873 | 100.0% | $248,780 | 100.0 | % | |||||||||||||||
Ratio of unencumbered assets at cost to unsecured debt is | 3.4x |
CAMDEN | DEBT MATURITY ANALYSIS | |||||||
(In thousands) | ||||||||
Future Scheduled Repayments | Weighted Average Interest on Maturing Debt | |||||||||||||||||||
Quarter | Amortization | Secured Maturities | Unsecured Maturities | Total | ||||||||||||||||
1Q 2023 | ($903) | $— | $— | ($903) | N/A | |||||||||||||||
2Q 2023 | (880) | — | 250,000 | 249,120 | 5.1 | % | ||||||||||||||
3Q 2023 | (791) | — | — | (791) | N/A | |||||||||||||||
4Q 2023 | (793) | — | — | (793) | N/A | |||||||||||||||
2023 | ($3,367) | $— | $250,000 | $246,633 | 5.1 | % | ||||||||||||||
1Q 2024 | ($730) | $— | $250,000 | $249,270 | 4.4 | % | ||||||||||||||
2Q 2024 | (724) | 19,122 | — | 18,398 | 6.5 | % | ||||||||||||||
3Q 2024 | (657) | — | 290,000 | 289,343 | 3.9 | % | ||||||||||||||
4Q 2024 | (552) | — | — | (552) | N/A | |||||||||||||||
2024 | ($2,663) | $19,122 | $540,000 | $556,459 | 4.2 | % | ||||||||||||||
CAMDEN | DEBT COVENANT ANALYSIS | |||||||
UNSECURED LINE OF CREDIT | |||||||||||||||||||||||
Covenant (a) | Required | Actual (b) | Compliance | ||||||||||||||||||||
Total Consolidated Debt to Gross Asset Value | < | 60% | 21% | Yes | |||||||||||||||||||
Secured Debt to Gross Asset Value | < | 40% | 3% | Yes | |||||||||||||||||||
Consolidated Adjusted EBITDA to Total Fixed Charges | > | 150% | 593% | Yes | |||||||||||||||||||
Unsecured Debt to Gross Asset Value | < | 60% | 20% | Yes | |||||||||||||||||||
SENIOR UNSECURED NOTES | |||||||||||||||||||||||
Covenant (a) | Required | Actual (b) | Compliance | ||||||||||||||||||||
Total Consolidated Debt to Total Asset Value | < | 60% | 28% | Yes | |||||||||||||||||||
Total Secured Debt to Total Asset Value | < | 40% | 4% | Yes | |||||||||||||||||||
Total Unencumbered Asset Value to Total Unsecured Debt | > | 150% | 349% | Yes | |||||||||||||||||||
Consolidated Income Available for Debt Service to Total Annual Service Charges | > | 150% | 635% | Yes | |||||||||||||||||||
CAMDEN | CAPITALIZED EXPENDITURES | |||||||
& MAINTENANCE EXPENSE | ||||||||
(In thousands, except unit data) | ||||||||
Fourth Quarter 2022 | |||||||||||||||||||||||||||||
Recurring Capitalized | Expensed | ||||||||||||||||||||||||||||
Item | Weighted Average Useful Life (a) | Total | Per Unit | Total | Per Unit | ||||||||||||||||||||||||
Interiors | |||||||||||||||||||||||||||||
Floor Coverings | 5 | years | $3,068 | $52 | $344 | $6 | |||||||||||||||||||||||
Appliances | 10 | years | 1,429 | 24 | 303 | 5 | |||||||||||||||||||||||
Painting | — | — | — | 1,806 | 31 | ||||||||||||||||||||||||
Cabinetry/Countertops | 10 | years | 325 | 5 | — | — | |||||||||||||||||||||||
Other | 9 | years | 1,965 | 33 | 949 | 16 | |||||||||||||||||||||||
Exteriors | |||||||||||||||||||||||||||||
Painting | 5 | years | 4,615 | 79 | — | — | |||||||||||||||||||||||
Carpentry | 10 | years | 1,613 | 27 | — | — | |||||||||||||||||||||||
Landscaping | 6 | years | 1,712 | 29 | 2,907 | 49 | |||||||||||||||||||||||
Roofing | 16 | years | 505 | 9 | 180 | 3 | |||||||||||||||||||||||
Site Drainage | 10 | years | 544 | 9 | — | — | |||||||||||||||||||||||
Fencing/Stair | 10 | years | 974 | 17 | — | — | |||||||||||||||||||||||
Other (b) | 9 | years | 4,024 | 69 | 5,568 | 95 | |||||||||||||||||||||||
Common Areas | |||||||||||||||||||||||||||||
Mech., Elec., Plumbing | 9 | years | 4,911 | 84 | 2,498 | 43 | |||||||||||||||||||||||
Parking/Paving | 4 | years | 1,031 | 18 | — | — | |||||||||||||||||||||||
Pool/Exercise/Facility | 7 | years | 2,317 | 40 | 388 | 7 | |||||||||||||||||||||||
Total Recurring (c) | $29,033 | $495 | $14,943 | $255 | |||||||||||||||||||||||||
Weighted Average Apartment Homes | 58,621 | 58,621 | |||||||||||||||||||||||||||
Non-recurring & revenue enhancing capitalized expenditures (d) | $747 | ||||||||||||||||||||||||||||
Reposition Expenditures (e) | 10 | years | $13,563 | $20,866 | |||||||||||||||||||||||||
Repositioned Apartment Homes | 650 | ||||||||||||||||||||||||||||
Year to Date 2022 | |||||||||||||||||||||||||||||
Recurring Capitalized | Expensed | ||||||||||||||||||||||||||||
Item | Weighted Average Useful Life (a) | Total | Per Unit | Total | Per Unit | ||||||||||||||||||||||||
Interiors | |||||||||||||||||||||||||||||
Floor Coverings | 5 | years | $12,048 | $213 | $1,504 | $27 | |||||||||||||||||||||||
Appliances | 10 | years | 4,882 | 86 | 1,227 | 22 | |||||||||||||||||||||||
Painting | — | — | — | 7,173 | 127 | ||||||||||||||||||||||||
Cabinetry/Countertops | 10 | years | 729 | 13 | — | — | |||||||||||||||||||||||
Other | 9 | years | 6,486 | 115 | 4,236 | 75 | |||||||||||||||||||||||
Exteriors | |||||||||||||||||||||||||||||
Painting | 5 | years | 10,272 | 182 | — | — | |||||||||||||||||||||||
Carpentry | 10 | years | 2,911 | 50 | — | — | |||||||||||||||||||||||
Landscaping | 6 | years | 3,888 | 69 | 12,270 | 217 | |||||||||||||||||||||||
Roofing | 16 | years | 5,025 | 89 | 821 | 14 | |||||||||||||||||||||||
Site Drainage | 10 | years | 1,105 | 20 | — | — | |||||||||||||||||||||||
Fencing/Stair | 10 | years | 2,664 | 47 | — | — | |||||||||||||||||||||||
Other (b) | 9 | years | 13,217 | 234 | 20,857 | 369 | |||||||||||||||||||||||
Common Areas | |||||||||||||||||||||||||||||
Mech., Elec., Plumbing | 9 | years | 17,093 | 302 | 11,156 | 197 | |||||||||||||||||||||||
Parking/Paving | 4 | years | 2,417 | 43 | — | — | |||||||||||||||||||||||
Pool/Exercise/Facility | 7 | years | 7,486 | 132 | 1,897 | 33 | |||||||||||||||||||||||
Total Recurring (c) | $90,223 | $1,595 | $61,141 | $1,081 | |||||||||||||||||||||||||
Weighted Average Apartment Homes | 56,566 | 56,566 | |||||||||||||||||||||||||||
Non-recurring & revenue enhancing capitalized expenditures (d) | $3,235 | ||||||||||||||||||||||||||||
Reposition Expenditures (e) | 10 | years | $49,732 | $22,585 | |||||||||||||||||||||||||
Repositioned Apartment Homes | 2,202 | ||||||||||||||||||||||||||||
CAMDEN | 2023 FINANCIAL OUTLOOK | |||||||
AS OF FEBRUARY 2, 2023 | ||||||||
Earnings Guidance - Per Diluted Share | |||||||||||
Expected FFO per share - diluted | $6.70 - $7.00 | ||||||||||
"Same Property" Communities | |||||||||||
Number of Units - 2023 | 48,463 | ||||||||||
2022 Base Net Operating Income | $790 million | ||||||||||
Total Revenue Growth | 4.10% - 6.10% | ||||||||||
Total Expense Growth | 4.75% - $6.25% | ||||||||||
Net Operating Income Growth | 3.50% - 6.50% | ||||||||||
Impact from 1% change in NOI Growth is approximately $0.072 / share | |||||||||||
2023 Assumptions | |||||||||||
Earned-in Rent Growth as of December 31, 2022 & Loss to Lease Capture | 5.00% | ||||||||||
December 2022 to December 2023 Assumed Market Rent Growth | 3.00% | ||||||||||
Occupancy | 95.7% | ||||||||||
Rental Income as a % of Property Revenues | 89% | ||||||||||
Other Income Growth | 1.50% | ||||||||||
Other Income as a % of Property Revenues | 11% | ||||||||||
Property Tax Growth | 6.50% | ||||||||||
Property Tax as a % of Property Expenses | 37% | ||||||||||
Insurance Growth | 12.50% | ||||||||||
Insurance Growth as a % of Property Expenses | 6% | ||||||||||
Capitalized Expenditures | |||||||||||
Recurring | $96 - $100 million | ||||||||||
Revenue Enhancing Capex, Repositions, Redevelopment, and Repurposes (a) | $93 - $97 million | ||||||||||
Non - Recurring Capital Expenditures | $26 - $28 million | ||||||||||
Acquisitions/Dispositions | |||||||||||
Acquisition Volume (consolidated on balance sheet) | $0 - $500 million | ||||||||||
Disposition Volume (consolidated on balance sheet) | $0 - $500 million | ||||||||||
Development | |||||||||||
Development Starts (consolidated on balance sheet) | $250 - $600 million | ||||||||||
Development Spend (consolidated on balance sheet) | $275 - $305 million | ||||||||||
Non-Property Income | |||||||||||
Non-Property Income | $2 - $3 million | ||||||||||
Includes: Fee and asset management income and interest and other income | |||||||||||
Corporate Expenses | |||||||||||
General and Administrative Expenses | $60 - $64 million | ||||||||||
Property Management Expense | $31 - $35 million | ||||||||||
Fee and Asset Management Expense | $1 - $2 million | ||||||||||
Corporate G&A Depreciation/Amortization | $12 - $14 million | ||||||||||
Income Tax Expense | $2 - $4 million | ||||||||||
Capital | |||||||||||
Expensed Interest | $135 - $139 million | ||||||||||
Capitalized Interest | $19 - $21 million | ||||||||||
CAMDEN | NON-GAAP FINANCIAL MEASURES | |||||||
DEFINITIONS & RECONCILIATIONS | ||||||||
(In thousands, except per share amounts) | ||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
Net income attributable to common shareholders | $45,709 | $212,898 | $653,613 | $303,907 | |||||||||||||
Real estate depreciation and amortization | 144,105 | 114,007 | 565,913 | 410,767 | |||||||||||||
Adjustments for unconsolidated joint ventures | — | 2,688 | 2,709 | 10,591 | |||||||||||||
Income allocated to non-controlling interests | 1,762 | 4,961 | 7,895 | 8,469 | |||||||||||||
Gain on sale of operating property | — | (174,384) | (36,372) | (174,384) | |||||||||||||
Gain on acquisition of unconsolidated joint venture interests | — | — | (474,146) | — | |||||||||||||
Funds from operations | $191,576 | $160,170 | $719,612 | $559,350 | |||||||||||||
Less: recurring capitalized expenditures | (29,033) | (22,398) | (90,715) | (73,603) | |||||||||||||
Adjusted funds from operations | $162,543 | $137,772 | $628,897 | $485,747 | |||||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||
EPS diluted | 108,512 | 105,448 | 108,388 | 102,829 | |||||||||||||
FFO/AFFO diluted | 110,117 | 106,322 | 109,261 | 103,747 | |||||||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
Total Earnings Per Common Share - Diluted | $0.42 | $2.02 | $6.04 | $2.96 | |||||||||||||
Real estate depreciation and amortization | 1.31 | 1.07 | 5.16 | 3.96 | |||||||||||||
Adjustments for unconsolidated joint ventures | — | 0.03 | 0.02 | 0.09 | |||||||||||||
Income allocated to non-controlling interests | 0.01 | 0.03 | 0.04 | 0.06 | |||||||||||||
Gain on sale of operating property | — | (1.64) | (0.33) | (1.68) | |||||||||||||
Gain on acquisition of unconsolidated joint venture interests | — | — | (4.34) | — | |||||||||||||
FFO per common share - Diluted | $1.74 | $1.51 | $6.59 | $5.39 | |||||||||||||
Less: recurring capitalized expenditures | (0.26) | (0.21) | (0.83) | (0.71) | |||||||||||||
AFFO per common share - Diluted | $1.48 | $1.30 | $5.76 | $4.68 | |||||||||||||
CAMDEN | NON-GAAP FINANCIAL MEASURES | |||||||
DEFINITIONS & RECONCILIATIONS | ||||||||
(In thousands, except per share amounts) | ||||||||
1Q23 | Range | 2023 | Range | ||||||||||||||
Low | High | Low | High | ||||||||||||||
Expected earnings per common share - diluted | $0.36 | $0.40 | $1.53 | $1.83 | |||||||||||||
Expected real estate depreciation and amortization | 1.26 | 1.26 | 5.12 | 5.12 | |||||||||||||
Expected income allocated to non-controlling interests | 0.01 | 0.01 | 0.05 | 0.05 | |||||||||||||
Expected FFO per share - diluted | $1.63 | $1.67 | $6.70 | $7.00 | |||||||||||||
Note: This table contains forward-looking statements. Please see paragraph regarding forward-looking statements on page 2 of this document. |
Three months ended December 31, | Twelve months ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
Net income | $47,471 | $217,859 | $661,508 | $312,376 | |||||||||||||
Less: Fee and asset management income | (931) | (2,815) | (5,188) | (10,532) | |||||||||||||
Less: Interest and other income | (138) | (191) | (3,019) | (1,223) | |||||||||||||
Less: Income/(loss) on deferred compensation plans | (8,813) | (5,186) | 19,637 | (14,369) | |||||||||||||
Plus: Property management expense | 7,373 | 7,139 | 28,601 | 26,339 | |||||||||||||
Plus: Fee and asset management expense | 426 | 1,201 | 2,516 | 4,511 | |||||||||||||
Plus: General and administrative expense | 15,887 | 14,940 | 60,413 | 59,368 | |||||||||||||
Plus: Interest expense | 30,668 | 24,582 | 113,424 | 97,297 | |||||||||||||
Plus: Depreciation and amortization expense | 147,271 | 116,503 | 577,020 | 420,692 | |||||||||||||
Plus: Expense/(benefit) on deferred compensation plans | 8,813 | 5,186 | (19,637) | 14,369 | |||||||||||||
Less: Gain on sale of operating properties | — | (174,384) | (36,372) | (174,384) | |||||||||||||
Less: Gain on acquisition of unconsolidated joint venture interests | — | — | (474,146) | — | |||||||||||||
Less: Equity in income of joint ventures | — | (3,125) | (3,048) | (9,777) | |||||||||||||
Plus: Income tax expense | 753 | 601 | 2,966 | 1,893 | |||||||||||||
NOI | $248,780 | $202,310 | $924,675 | $726,560 | |||||||||||||
"Same Property" Communities | $197,575 | $178,163 | $753,204 | $656,985 | |||||||||||||
Non-"Same Property" Communities | 48,713 | 20,238 | 164,621 | 51,041 | |||||||||||||
Development and Lease-Up Communities | 1,025 | — | 1,255 | 8 | |||||||||||||
Hurricane Expenses | — | — | (1,000) | — | |||||||||||||
Other | 1,467 | 3,909 | 6,595 | 18,526 | |||||||||||||
NOI | $248,780 | $202,310 | $924,675 | $726,560 |
CAMDEN | NON-GAAP FINANCIAL MEASURES | |||||||
DEFINITIONS & RECONCILIATIONS | ||||||||
(In thousands, except per share amounts) | ||||||||
Three months ended December 31, | Twelve months ended December 31, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
Net income attributable to common shareholders | $45,709 | $212,898 | $653,613 | $303,907 | |||||||||||||
Plus: Interest expense | 30,668 | 24,582 | 113,424 | 97,297 | |||||||||||||
Plus: Depreciation and amortization expense | 147,271 | 116,503 | 577,020 | 420,692 | |||||||||||||
Plus: Income allocated to non-controlling interests | 1,762 | 4,961 | 7,895 | 8,469 | |||||||||||||
Plus: Income tax expense | 753 | 601 | 2,966 | 1,893 | |||||||||||||
Plus: Hurricane expenses | — | — | 1,000 | — | |||||||||||||
Less: Gain on sale of operating properties | — | (174,384) | (36,372) | (174,384) | |||||||||||||
Less: Gain on acquisition of unconsolidated joint venture interests | — | — | (474,146) | — | |||||||||||||
Less: Equity in income of joint ventures | — | (3,125) | (3,048) | (9,777) | |||||||||||||
Adjusted EBITDA | $226,163 | $182,036 | $842,352 | $648,097 | |||||||||||||
Annualized Adjusted EBITDA | $904,652 | $728,144 | $842,352 | $648,097 |
Average monthly balance for the | Average monthly balance for the | ||||||||||||||||||||||
Three months ended December 31, | Twelve months ended December 31, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Unsecured notes payable | $3,188,976 | $3,170,054 | $3,242,448 | $3,168,649 | |||||||||||||||||||
Secured notes payable | 514,940 | — | 386,096 | — | |||||||||||||||||||
Total debt | 3,703,916 | 3,170,054 | 3,628,544 | 3,168,649 | |||||||||||||||||||
Less: Cash and cash equivalents | (3,562) | (385,194) | (186,178) | (329,967) | |||||||||||||||||||
Net debt | $3,700,354 | $2,784,860 | $3,442,366 | $2,838,682 | |||||||||||||||||||
Three months ended December 31, | Twelve months ended December 31, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Net debt | $3,700,354 | $2,784,860 | $3,442,366 | $2,838,682 | |||||||||||||||||||
Annualized Adjusted EBITDA | 904,652 | 728,144 | 842,352 | 648,097 | |||||||||||||||||||
Net Debt to Annualized Adjusted EBITDA | 4.1x | 3.8x | 4.1x | 4.4x | |||||||||||||||||||
CAMDEN | OTHER DATA | |||||||
Stock Symbol: | CPT | |||||||||||||||||||
Exchange Traded: | NYSE | |||||||||||||||||||
Senior Unsecured Debt Ratings: | Rating | Outlook | ||||||||||||||||||
Fitch | A- | Stable | ||||||||||||||||||
Moody's | A3 | Stable | ||||||||||||||||||
Standard & Poor's | A- | Stable | ||||||||||||||||||
Estimated Future Dates: | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | ||||||||||||||||
Earnings Release & Conference Call | Late April | Late July | Late October | Early February | ||||||||||||||||
Dividend Information - Common Shares: | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | ||||||||||||||||
Declaration Date | 2/3/2022 | 6/15/2022 | 9/15/2022 | 12/1/2022 | ||||||||||||||||
Record Date | 3/31/2022 | 6/30/2022 | 9/30/2022 | 12/16/2022 | ||||||||||||||||
Payment Date | 4/18/2022 | 7/15/2022 | 10/17/2022 | 1/17/2023 | ||||||||||||||||
Distributions Per Share | $0.94 | $0.94 | $0.94 | $0.94 |
Investor Relations Data: | ||||||||||||||
Camden does not send quarterly reports to shareholders, but supplies 10-Q's, Earnings Releases, and Supplemental Data upon request. | ||||||||||||||
For Investor Relations: recent press releases, 10-Q's, 10-K's, and other information, call (713) 354-2787. | ||||||||||||||
To access Camden's Quarterly Conference Call, please visit our website at camdenliving.com. | ||||||||||||||
For questions contact: | ||||||||||||||
Richard J. Campo | Chief Executive Officer & Chairman | |||||||||||||
D. Keith Oden | President & Executive Vice Chairman | |||||||||||||
Alexander J. Jessett | Chief Financial Officer | |||||||||||||
Laurie A. Baker | Chief Operating Officer | |||||||||||||
Kimberly A. Callahan | Senior Vice President - Investor Relations |
CAMDEN | COMMUNITY TABLE | |||||||
Community statistics as of 12/31/2022 |
(Unaudited) | 4Q22 Avg Monthly | 4Q22 Avg Monthly | ||||||||||||||||||||||||||||||
Year Placed | Average | Apartment | 4Q22 Avg | Rental Rates per | Revenue per Occupied | |||||||||||||||||||||||||||
Community Name | City | State | In Service | Size | Homes | Occupancy | Home | Sq. Ft. | Home | Sq. Ft. | ||||||||||||||||||||||
Camden Chandler | Chandler | AZ | 2016 | 1,146 | 380 | 94% | $1,992 | $1.74 | $2,308 | $2.01 | ||||||||||||||||||||||
Camden Copper Square | Phoenix | AZ | 2000 | 786 | 332 | 95% | 1,657 | 2.11 | 1,969 | 2.51 | ||||||||||||||||||||||
Camden Foothills | Scottsdale | AZ | 2014 | 1,032 | 220 | 97% | 2,166 | 2.10 | 2,536 | 2.46 | ||||||||||||||||||||||
Camden Legacy | Scottsdale | AZ | 1996 | 1,067 | 428 | 95% | 2,048 | 1.92 | 2,369 | 2.22 | ||||||||||||||||||||||
Camden Montierra | Scottsdale | AZ | 1999 | 1,071 | 249 | 96% | 1,943 | 1.81 | 2,338 | 2.18 | ||||||||||||||||||||||
Camden North End I | Phoenix | AZ | 2019 | 921 | 441 | 96% | 2,039 | 2.21 | 2,398 | 2.60 | ||||||||||||||||||||||
Camden North End II | Phoenix | AZ | 2021 | 885 | 343 | 94% | 2,037 | 2.30 | 2,371 | 2.68 | ||||||||||||||||||||||
Camden Old Town Scottsdale | Scottsdale | AZ | 2016 | 892 | 316 | 96% | 2,295 | 2.57 | 2,557 | 2.87 | ||||||||||||||||||||||
Camden Pecos Ranch | Chandler | AZ | 2001 | 949 | 272 | 94% | 1,693 | 1.78 | 1,992 | 2.10 | ||||||||||||||||||||||
Camden San Marcos | Scottsdale | AZ | 1995 | 984 | 320 | 94% | 1,845 | 1.87 | 2,139 | 2.17 | ||||||||||||||||||||||
Camden San Paloma | Scottsdale | AZ | 1993/1994 | 1,042 | 324 | 96% | 1,964 | 1.89 | 2,270 | 2.18 | ||||||||||||||||||||||
Camden Sotelo | Tempe | AZ | 2008/2012 | 1,303 | 170 | 95% | 2,053 | 1.58 | 2,440 | 1.87 | ||||||||||||||||||||||
Camden Tempe | Tempe | AZ | 2015 | 1,043 | 234 | 94% | 2,035 | 1.95 | 2,431 | 2.33 | ||||||||||||||||||||||
TOTAL ARIZONA | 13 | Properties | 996 | 4,029 | 95% | 1,980 | 1.99 | 2,311 | 2.32 | |||||||||||||||||||||||
Camden Crown Valley | Mission Viejo | CA | 2001 | 1,009 | 380 | 97% | 2,572 | 2.55 | 2,751 | 2.73 | ||||||||||||||||||||||
Camden Glendale | Glendale | CA | 2015 | 893 | 307 | 98% | 2,731 | 3.06 | 2,764 | 3.10 | ||||||||||||||||||||||
Camden Harbor View | Long Beach | CA | 2004 | 981 | 547 | 96% | 2,959 | 3.02 | 3,045 | 3.11 | ||||||||||||||||||||||
Camden Main and Jamboree | Irvine | CA | 2008 | 1,011 | 290 | 92% | 2,533 | 2.51 | 2,745 | 2.72 | ||||||||||||||||||||||
Camden Martinique | Costa Mesa | CA | 1986 | 795 | 714 | 96% | 2,235 | 2.81 | 2,442 | 3.07 | ||||||||||||||||||||||
Camden Sea Palms | Costa Mesa | CA | 1990 | 891 | 138 | 99% | 2,547 | 2.86 | 2,816 | 3.16 | ||||||||||||||||||||||
The Camden | Hollywood | CA | 2016 | 767 | 287 | 96% | 3,218 | 4.20 | 2,755 | 3.59 | ||||||||||||||||||||||
Total Los Angeles/Orange County | 7 | Properties | 900 | 2,663 | 96% | 2,643 | 2.94 | 2,727 | 3.03 | |||||||||||||||||||||||
Camden Hillcrest | San Diego | CA | 2021 | 1,223 | 132 | 95% | 3,447 | 2.82 | 3,507 | 2.87 | ||||||||||||||||||||||
Camden Landmark | Ontario | CA | 2006 | 982 | 469 | 94% | 2,136 | 2.17 | 2,148 | 2.19 | ||||||||||||||||||||||
Camden Old Creek | San Marcos | CA | 2007 | 1,037 | 350 | 98% | 2,725 | 2.63 | 2,987 | 2.88 | ||||||||||||||||||||||
Camden Sierra at Otay Ranch | Chula Vista | CA | 2003 | 962 | 422 | 97% | 2,609 | 2.71 | 2,819 | 2.93 | ||||||||||||||||||||||
Camden Tuscany | San Diego | CA | 2003 | 895 | 160 | 98% | 3,052 | 3.41 | 3,260 | 3.64 | ||||||||||||||||||||||
Camden Vineyards | Murrieta | CA | 2002 | 1,053 | 264 | 95% | 2,312 | 2.20 | 2,522 | 2.40 | ||||||||||||||||||||||
Total San Diego/Inland Empire | 6 | Properties | 1,009 | 1,797 | 96% | 2,566 | 2.54 | 2,727 | 2.70 | |||||||||||||||||||||||
TOTAL CALIFORNIA | 13 | Properties | 944 | 4,460 | 96% | 2,612 | 2.77 | 2,727 | 2.89 | |||||||||||||||||||||||
Camden Belleview Station | Denver | CO | 2009 | 888 | 270 | 96% | 1,856 | 2.09 | 2,164 | 2.44 | ||||||||||||||||||||||
Camden Caley | Englewood | CO | 2000 | 921 | 218 | 97% | 1,856 | 2.02 | 2,130 | 2.31 | ||||||||||||||||||||||
Camden Denver West | Golden | CO | 1997 | 1,015 | 320 | 96% | 2,220 | 2.19 | 2,528 | 2.49 | ||||||||||||||||||||||
Camden Flatirons | Denver | CO | 2015 | 960 | 424 | 95% | 1,982 | 2.07 | 2,346 | 2.45 | ||||||||||||||||||||||
Camden Highlands Ridge | Highlands Ranch | CO | 1996 | 1,149 | 342 | 96% | 2,206 | 1.92 | 2,513 | 2.19 | ||||||||||||||||||||||
Camden Interlocken | Broomfield | CO | 1999 | 1,002 | 340 | 97% | 2,051 | 2.05 | 2,395 | 2.39 | ||||||||||||||||||||||
Camden Lakeway | Littleton | CO | 1997 | 929 | 459 | 96% | 1,957 | 2.11 | 2,263 | 2.44 | ||||||||||||||||||||||
Camden Lincoln Station | Lone Tree | CO | 2017 | 844 | 267 | 97% | 1,859 | 2.20 | 2,149 | 2.55 | ||||||||||||||||||||||
Camden RiNo | Denver | CO | 2020 | 828 | 233 | 96% | 2,219 | 2.68 | 2,644 | 3.19 | ||||||||||||||||||||||
TOTAL COLORADO | 9 | Properties | 957 | 2,873 | 96% | 2,026 | 2.12 | 2,351 | 2.46 | |||||||||||||||||||||||
Camden Ashburn Farm | Ashburn | VA | 2000 | 1,062 | 162 | 96% | 2,088 | 1.97 | 2,362 | 2.22 | ||||||||||||||||||||||
Camden College Park | College Park | MD | 2008 | 942 | 509 | 94% | 1,868 | 1.98 | 2,169 | 2.30 | ||||||||||||||||||||||
Camden Dulles Station | Oak Hill | VA | 2009 | 977 | 382 | 97% | 2,161 | 2.21 | 2,486 | 2.54 | ||||||||||||||||||||||
Camden Fair Lakes | Fairfax | VA | 1999 | 1,056 | 530 | 97% | 2,178 | 2.06 | 2,515 | 2.38 | ||||||||||||||||||||||
Camden Fairfax Corner | Fairfax | VA | 2006 | 934 | 489 | 97% | 2,204 | 2.36 | 2,551 | 2.73 | ||||||||||||||||||||||
Camden Fallsgrove | Rockville | MD | 2004 | 996 | 268 | 95% | 2,101 | 2.11 | 2,352 | 2.36 | ||||||||||||||||||||||
Camden Grand Parc | Washington | DC | 2002 | 672 | 105 | 98% | 2,692 | 4.01 | 2,918 | 4.34 | ||||||||||||||||||||||
Camden Lansdowne | Leesburg | VA | 2002 | 1,006 | 690 | 97% | 2,063 | 2.05 | 2,336 | 2.32 | ||||||||||||||||||||||
Camden Monument Place | Fairfax | VA | 2007 | 856 | 368 | 98% | 1,950 | 2.28 | 2,223 | 2.60 | ||||||||||||||||||||||
Camden Noma | Washington | DC | 2014 | 769 | 321 | 95% | 2,262 | 2.94 | 2,616 | 3.40 | ||||||||||||||||||||||
Camden Noma II | Washington | DC | 2017 | 759 | 405 | 97% | 2,343 | 3.09 | 2,707 | 3.57 | ||||||||||||||||||||||
Camden Potomac Yard | Arlington | VA | 2008 | 832 | 378 | 96% | 2,288 | 2.75 | 2,657 | 3.19 | ||||||||||||||||||||||
Camden Roosevelt | Washington | DC | 2003 | 856 | 198 | 98% | 3,009 | 3.51 | 3,410 | 3.98 | ||||||||||||||||||||||
Camden Shady Grove | Rockville | MD | 2018 | 877 | 457 | 97% | 1,958 | 2.23 | 2,224 | 2.54 | ||||||||||||||||||||||
Camden Silo Creek | Ashburn | VA | 2004 | 975 | 284 | 97% | 2,037 | 2.09 | 2,340 | 2.40 | ||||||||||||||||||||||
Camden South Capitol | Washington | DC | 2013 | 821 | 281 | 95% | 2,411 | 2.94 | 2,884 | 3.51 | ||||||||||||||||||||||
Camden Washingtonian | Gaithersburg | MD | 2018 | 870 | 365 | 96% | 1,989 | 2.29 | 2,198 | 2.53 | ||||||||||||||||||||||
TOTAL DC METRO | 17 | Properties | 913 | 6,192 | 96% | 2,155 | 2.36 | 2,470 | 2.71 | |||||||||||||||||||||||
Camden Atlantic (1) | Plantation | FL | 2022 | 919 | 269 | Lease-Up | 2,405 | 2.62 | 2,959 | 3.22 | ||||||||||||||||||||||
Camden Aventura | Aventura | FL | 1995 | 1,108 | 379 | 96% | 2,665 | 2.40 | 3,064 | 2.76 | ||||||||||||||||||||||
Camden Boca Raton | Boca Raton | FL | 2014 | 843 | 261 | 97% | 2,603 | 3.09 | 2,876 | 3.41 | ||||||||||||||||||||||
Camden Brickell | Miami | FL | 2003 | 937 | 405 | 96% | 2,770 | 2.96 | 3,045 | 3.25 | ||||||||||||||||||||||
Camden Doral | Miami | FL | 1999 | 1,120 | 260 | 99% | 2,488 | 2.22 | 2,747 | 2.45 | ||||||||||||||||||||||
Camden Doral Villas | Miami | FL | 2000 | 1,253 | 232 | 97% | 2,785 | 2.22 | 3,093 | 2.47 | ||||||||||||||||||||||
Camden Las Olas | Ft. Lauderdale | FL | 2004 | 1,043 | 420 | 96% | 2,761 | 2.65 | 3,128 | 3.00 | ||||||||||||||||||||||
Camden Plantation | Plantation | FL | 1997 | 1,201 | 502 | 95% | 2,288 | 1.90 | 2,611 | 2.17 | ||||||||||||||||||||||
Camden Portofino | Pembroke Pines | FL | 1995 | 1,112 | 322 | 95% | 2,358 | 2.12 | 2,629 | 2.36 | ||||||||||||||||||||||
Total Southeast Florida | 9 | Properties | 1,065 | 3,050 | 96% | 2,564 | 2.41 | 2,897 | 2.72 | |||||||||||||||||||||||
CAMDEN | COMMUNITY TABLE | |||||||
Community statistics as of 12/31/2022 |
(Unaudited) | 4Q22 Avg Monthly | 4Q22 Avg Monthly | ||||||||||||||||||||||||||||||
Year Placed | Average | Apartment | 4Q22 Avg | Rental Rates per | Revenue per Occupied | |||||||||||||||||||||||||||
Community Name | City | State | In Service | Size | Homes | Occupancy | Home | Sq. Ft. | Home | Sq. Ft. | ||||||||||||||||||||||
Camden Hunters Creek | Orlando | FL | 2000 | 1,075 | 270 | 98% | $1,855 | $1.72 | $2,101 | $1.95 | ||||||||||||||||||||||
Camden Lago Vista | Orlando | FL | 2005 | 955 | 366 | 98% | 1,745 | 1.83 | 2,041 | 2.14 | ||||||||||||||||||||||
Camden Lake Eola | Orlando | FL | 2021 | 944 | 360 | 94% | 2,291 | 2.43 | 2,490 | 2.64 | ||||||||||||||||||||||
Camden LaVina | Orlando | FL | 2012 | 969 | 420 | 96% | 1,787 | 1.84 | 2,084 | 2.15 | ||||||||||||||||||||||
Camden Lee Vista | Orlando | FL | 2000 | 937 | 492 | 96% | 1,805 | 1.93 | 2,083 | 2.22 | ||||||||||||||||||||||
Camden North Quarter | Orlando | FL | 2016 | 806 | 333 | 97% | 1,812 | 2.25 | 1,994 | 2.48 | ||||||||||||||||||||||
Camden Orange Court | Orlando | FL | 2008 | 817 | 268 | 93% | 1,683 | 2.06 | 1,940 | 2.38 | ||||||||||||||||||||||
Camden Thornton Park | Orlando | FL | 2016 | 920 | 299 | 95% | 2,112 | 2.30 | 2,326 | 2.53 | ||||||||||||||||||||||
Camden Town Square | Orlando | FL | 2012 | 983 | 438 | 97% | 1,813 | 1.84 | 2,055 | 2.09 | ||||||||||||||||||||||
Camden Waterford Lakes | Orlando | FL | 2014 | 971 | 300 | 97% | 1,884 | 1.94 | 2,118 | 2.18 | ||||||||||||||||||||||
Camden World Gateway | Orlando | FL | 2000 | 979 | 408 | 98% | 1,785 | 1.82 | 2,013 | 2.06 | ||||||||||||||||||||||
Total Orlando | 11 | Properties | 944 | 3,954 | 96% | 1,865 | 1.98 | 2,110 | 2.24 | |||||||||||||||||||||||
Camden Bay | Tampa | FL | 1997/2001 | 943 | 760 | 98% | 1,836 | 1.95 | 2,133 | 2.26 | ||||||||||||||||||||||
Camden Central | St. Petersburg | FL | 2019 | 942 | 368 | 97% | 3,292 | 3.49 | 3,593 | 3.81 | ||||||||||||||||||||||
Camden Montague | Tampa | FL | 2012 | 972 | 192 | 97% | 1,828 | 1.88 | 2,157 | 2.22 | ||||||||||||||||||||||
Camden Pier District | St. Petersburg | FL | 2016 | 989 | 358 | 98% | 3,412 | 3.45 | 3,632 | 3.67 | ||||||||||||||||||||||
Camden Preserve | Tampa | FL | 1996 | 942 | 276 | 94% | 2,022 | 2.15 | 2,318 | 2.46 | ||||||||||||||||||||||
Camden Royal Palms | Brandon | FL | 2006 | 1,017 | 352 | 96% | 1,765 | 1.74 | 2,078 | 2.04 | ||||||||||||||||||||||
Camden Visconti | Tampa | FL | 2007 | 1,125 | 450 | 97% | 2,049 | 1.82 | 2,322 | 2.06 | ||||||||||||||||||||||
Camden Westchase Park | Tampa | FL | 2012 | 992 | 348 | 96% | 1,980 | 2.00 | 2,315 | 2.33 | ||||||||||||||||||||||
Total Tampa | 8 | Properties | 990 | 3,104 | 97% | 2,245 | 2.27 | 2,540 | 2.57 | |||||||||||||||||||||||
TOTAL FLORIDA | 28 | Properties | 995 | 10,108 | 96% | 2,193 | 2.20 | 2,473 | 2.49 | |||||||||||||||||||||||
Camden Brookwood | Atlanta | GA | 2002 | 916 | 359 | 96% | 1,775 | 1.94 | 2,036 | 2.22 | ||||||||||||||||||||||
Camden Buckhead | Atlanta | GA | 2022 | 1,087 | 366 | 94% | 2,604 | 2.40 | 2,743 | 2.52 | ||||||||||||||||||||||
Camden Buckhead Square | Atlanta | GA | 2015 | 827 | 250 | 96% | 1,882 | 2.28 | 2,012 | 2.43 | ||||||||||||||||||||||
Camden Creekstone | Atlanta | GA | 2002 | 990 | 223 | 97% | 1,744 | 1.76 | 1,946 | 1.97 | ||||||||||||||||||||||
Camden Deerfield | Alpharetta | GA | 2000 | 1,187 | 292 | 89% | 1,861 | 1.57 | 2,164 | 1.82 | ||||||||||||||||||||||
Camden Dunwoody | Atlanta | GA | 1997 | 1,007 | 324 | 95% | 1,759 | 1.75 | 2,005 | 1.99 | ||||||||||||||||||||||
Camden Fourth Ward | Atlanta | GA | 2014 | 844 | 276 | 97% | 2,062 | 2.44 | 2,361 | 2.80 | ||||||||||||||||||||||
Camden Midtown Atlanta | Atlanta | GA | 2001 | 935 | 296 | 96% | 1,807 | 1.93 | 2,097 | 2.24 | ||||||||||||||||||||||
Camden Paces | Atlanta | GA | 2015 | 1,408 | 379 | 96% | 2,931 | 2.08 | 3,233 | 2.30 | ||||||||||||||||||||||
Camden Peachtree City | Peachtree City | GA | 2001 | 1,027 | 399 | 95% | 1,753 | 1.71 | 2,061 | 2.01 | ||||||||||||||||||||||
Camden Phipps | Atlanta | GA | 1996 | 1,010 | 234 | 91% | 1,812 | 1.79 | 2,048 | 2.03 | ||||||||||||||||||||||
Camden Shiloh | Kennesaw | GA | 1999/2002 | 1,143 | 232 | 96% | 1,722 | 1.51 | 2,085 | 1.82 | ||||||||||||||||||||||
Camden St. Clair | Atlanta | GA | 1997 | 999 | 336 | 95% | 1,729 | 1.73 | 2,043 | 2.05 | ||||||||||||||||||||||
Camden Stockbridge | Stockbridge | GA | 2003 | 1,009 | 304 | 96% | 1,593 | 1.58 | 1,870 | 1.85 | ||||||||||||||||||||||
Camden Vantage | Atlanta | GA | 2010 | 901 | 592 | 93% | 1,761 | 1.95 | 1,972 | 2.19 | ||||||||||||||||||||||
TOTAL GEORGIA | 15 | Properties | 1,020 | 4,862 | 95% | 1,935 | 1.90 | 2,193 | 2.15 | |||||||||||||||||||||||
Camden Ballantyne | Charlotte | NC | 1998 | 1,048 | 400 | 97% | 1,648 | 1.57 | 1,938 | 1.85 | ||||||||||||||||||||||
Camden Cotton Mills | Charlotte | NC | 2002 | 905 | 180 | 94% | 1,744 | 1.93 | 1,996 | 2.21 | ||||||||||||||||||||||
Camden Dilworth | Charlotte | NC | 2006 | 857 | 145 | 95% | 1,819 | 2.12 | 2,085 | 2.43 | ||||||||||||||||||||||
Camden Fairview | Charlotte | NC | 1983 | 1,036 | 135 | 90% | 1,502 | 1.45 | 1,745 | 1.68 | ||||||||||||||||||||||
Camden Foxcroft | Charlotte | NC | 1979 | 940 | 156 | 96% | 1,375 | 1.46 | 1,623 | 1.73 | ||||||||||||||||||||||
Camden Foxcroft II | Charlotte | NC | 1985 | 874 | 100 | 94% | 1,519 | 1.74 | 1,765 | 2.02 | ||||||||||||||||||||||
Camden Gallery | Charlotte | NC | 2017 | 743 | 323 | 96% | 1,976 | 2.66 | 2,201 | 2.96 | ||||||||||||||||||||||
Camden Grandview | Charlotte | NC | 2000 | 1,059 | 266 | 98% | 2,105 | 1.99 | 2,349 | 2.22 | ||||||||||||||||||||||
Camden Grandview II | Charlotte | NC | 2019 | 2,241 | 28 | 89% | 4,013 | 1.79 | 4,170 | 1.86 | ||||||||||||||||||||||
Camden Sedgebrook | Charlotte | NC | 1999 | 972 | 368 | 96% | 1,490 | 1.53 | 1,747 | 1.80 | ||||||||||||||||||||||
Camden South End | Charlotte | NC | 2003 | 878 | 299 | 97% | 1,872 | 2.13 | 2,136 | 2.43 | ||||||||||||||||||||||
Camden Southline | Charlotte | NC | 2015 | 831 | 266 | 96% | 1,995 | 2.40 | 2,237 | 2.69 | ||||||||||||||||||||||
Camden Stonecrest | Charlotte | NC | 2001 | 1,098 | 306 | 96% | 1,687 | 1.54 | 1,966 | 1.79 | ||||||||||||||||||||||
Camden Touchstone | Charlotte | NC | 1986 | 899 | 132 | 96% | 1,408 | 1.57 | 1,646 | 1.83 | ||||||||||||||||||||||
Total Charlotte | 14 | Properties | 954 | 3,104 | 96% | 1,758 | 1.84 | 2,013 | 2.11 | |||||||||||||||||||||||
Camden Asbury Village | Raleigh | NC | 2009 | 1,009 | 350 | 97% | 1,594 | 1.58 | 1,830 | 1.81 | ||||||||||||||||||||||
Camden Carolinian | Raleigh | NC | 2017 | 1,118 | 186 | 93% | 2,336 | 2.09 | 2,550 | 2.28 | ||||||||||||||||||||||
Camden Crest | Raleigh | NC | 2001 | 1,012 | 442 | 97% | 1,459 | 1.44 | 1,728 | 1.71 | ||||||||||||||||||||||
Camden Governor's Village | Chapel Hill | NC | 1999 | 1,046 | 242 | 96% | 1,550 | 1.48 | 1,838 | 1.76 | ||||||||||||||||||||||
Camden Lake Pine | Apex | NC | 1999 | 1,066 | 446 | 96% | 1,573 | 1.48 | 1,842 | 1.73 | ||||||||||||||||||||||
Camden Manor Park | Raleigh | NC | 2006 | 966 | 484 | 95% | 1,542 | 1.60 | 1,801 | 1.86 | ||||||||||||||||||||||
Camden Overlook | Raleigh | NC | 2001 | 1,060 | 322 | 96% | 1,622 | 1.53 | 1,907 | 1.80 | ||||||||||||||||||||||
Camden Reunion Park | Apex | NC | 2000/2004 | 972 | 420 | 96% | 1,427 | 1.47 | 1,713 | 1.76 | ||||||||||||||||||||||
Camden Westwood | Morrisville | NC | 1999 | 1,022 | 360 | 95% | 1,502 | 1.47 | 1,775 | 1.74 | ||||||||||||||||||||||
Total Raleigh | 9 | Properties | 1,022 | 3,252 | 96% | 1,575 | 1.54 | 1,841 | 1.80 | |||||||||||||||||||||||
TOTAL NORTH CAROLINA | 23 | Properties | 988 | 6,356 | 96% | 1,665 | 1.68 | 1,925 | 1.95 | |||||||||||||||||||||||
Camden Franklin Park | Franklin | TN | 2018 | 967 | 328 | 97% | 1,955 | 2.02 | 2,093 | 2.16 | ||||||||||||||||||||||
Camden Music Row | Nashville | TN | 2016 | 903 | 430 | 96% | 2,469 | 2.73 | 2,599 | 2.88 | ||||||||||||||||||||||
TOTAL TENNESSEE | 2 | Properties | 931 | 758 | 97% | 2,247 | 2.41 | 2,379 | 2.56 | |||||||||||||||||||||||
CAMDEN | COMMUNITY TABLE | |||||||
Community statistics as of 12/31/2022 |
(Unaudited) | 4Q22 Avg Monthly | 4Q22 Avg Monthly | ||||||||||||||||||||||||||||||
Year Placed | Average | Apartment | 4Q22 Avg | Rental Rates per | Revenue per Occupied | |||||||||||||||||||||||||||
Community Name | City | State | In Service | Size | Homes | Occupancy | Home | Sq. Ft. | Home | Sq. Ft. | ||||||||||||||||||||||
Camden Amber Oaks | Austin | TX | 2009 | 862 | 348 | 96% | $1,499 | $1.74 | $1,774 | $2.06 | ||||||||||||||||||||||
Camden Amber Oaks II | Austin | TX | 2012 | 910 | 244 | 95% | 1,611 | 1.77 | 1,905 | 2.09 | ||||||||||||||||||||||
Camden Brushy Creek | Cedar Park | TX | 2008 | 882 | 272 | 97% | 1,594 | 1.81 | 1,780 | 2.02 | ||||||||||||||||||||||
Camden Cedar Hills | Austin | TX | 2008 | 911 | 208 | 96% | 1,720 | 1.89 | 2,005 | 2.20 | ||||||||||||||||||||||
Camden Gaines Ranch | Austin | TX | 1997 | 955 | 390 | 95% | 1,883 | 1.97 | 2,217 | 2.32 | ||||||||||||||||||||||
Camden Huntingdon | Austin | TX | 1995 | 903 | 398 | 94% | 1,578 | 1.75 | 1,857 | 2.06 | ||||||||||||||||||||||
Camden La Frontera | Austin | TX | 2015 | 901 | 300 | 97% | 1,617 | 1.79 | 1,815 | 2.01 | ||||||||||||||||||||||
Camden Lamar Heights | Austin | TX | 2015 | 838 | 314 | 97% | 1,810 | 2.16 | 2,014 | 2.40 | ||||||||||||||||||||||
Camden Rainey Street | Austin | TX | 2016 | 873 | 326 | 92% | 2,488 | 2.85 | 2,763 | 3.16 | ||||||||||||||||||||||
Camden Shadow Brook | Austin | TX | 2009 | 909 | 496 | 96% | 1,543 | 1.70 | 1,782 | 1.96 | ||||||||||||||||||||||
Camden Stoneleigh | Austin | TX | 2001 | 908 | 390 | 96% | 1,690 | 1.86 | 1,958 | 2.16 | ||||||||||||||||||||||
Total Austin | 11 | Properties | 897 | 3,686 | 96% | 1,725 | 1.92 | 1,981 | 2.21 | |||||||||||||||||||||||
Camden Addison | Addison | TX | 1996 | 942 | 456 | 94% | 1,580 | 1.68 | 1,824 | 1.94 | ||||||||||||||||||||||
Camden Belmont | Dallas | TX | 2010/2012 | 946 | 477 | 96% | 1,803 | 1.91 | 2,082 | 2.20 | ||||||||||||||||||||||
Camden Buckingham | Richardson | TX | 1997 | 919 | 464 | 95% | 1,563 | 1.70 | 1,865 | 2.03 | ||||||||||||||||||||||
Camden Centreport | Ft. Worth | TX | 1997 | 912 | 268 | 97% | 1,497 | 1.64 | 1,783 | 1.95 | ||||||||||||||||||||||
Camden Cimarron | Irving | TX | 1992 | 772 | 286 | 96% | 1,553 | 2.01 | 1,791 | 2.32 | ||||||||||||||||||||||
Camden Design District | Dallas | TX | 2009 | 939 | 355 | 96% | 1,683 | 1.79 | 1,831 | 1.95 | ||||||||||||||||||||||
Camden Farmers Market | Dallas | TX | 2001/2005 | 932 | 904 | 94% | 1,635 | 1.75 | 1,848 | 1.98 | ||||||||||||||||||||||
Camden Greenville | Dallas | TX | 2017/2018 | 1,028 | 558 | 95% | 1,991 | 1.94 | 2,164 | 2.10 | ||||||||||||||||||||||
Camden Henderson | Dallas | TX | 2012 | 966 | 106 | 98% | 1,874 | 1.94 | 2,110 | 2.18 | ||||||||||||||||||||||
Camden Legacy Creek | Plano | TX | 1995 | 831 | 240 | 96% | 1,672 | 2.01 | 1,930 | 2.32 | ||||||||||||||||||||||
Camden Legacy Park | Plano | TX | 1996 | 870 | 276 | 96% | 1,681 | 1.93 | 1,931 | 2.22 | ||||||||||||||||||||||
Camden Panther Creek | Frisco | TX | 2009 | 946 | 295 | 97% | 1,683 | 1.78 | 1,933 | 2.04 | ||||||||||||||||||||||
Camden Riverwalk | Grapevine | TX | 2008 | 989 | 600 | 97% | 1,831 | 1.85 | 2,098 | 2.12 | ||||||||||||||||||||||
Camden Valley Park | Irving | TX | 1986 | 743 | 516 | 97% | 1,396 | 1.88 | 1,662 | 2.24 | ||||||||||||||||||||||
Camden Victory Park | Dallas | TX | 2016 | 861 | 423 | 96% | 2,018 | 2.34 | 2,244 | 2.61 | ||||||||||||||||||||||
Total Dallas/Ft. Worth | 15 | Properties | 913 | 6,224 | 96% | 1,698 | 1.86 | 1,938 | 2.12 | |||||||||||||||||||||||
Camden City Centre | Houston | TX | 2007 | 932 | 379 | 95% | 1,573 | 1.69 | 1,845 | 1.98 | ||||||||||||||||||||||
Camden City Centre II | Houston | TX | 2013 | 869 | 268 | 96% | 1,552 | 1.79 | 1,798 | 2.07 | ||||||||||||||||||||||
Camden Cypress Creek | Cypress | TX | 2009 | 993 | 310 | 97% | 1,544 | 1.55 | 1,816 | 1.83 | ||||||||||||||||||||||
Camden Cypress Creek II | Cypress | TX | 2020 | 950 | 234 | 96% | 1,569 | 1.65 | 1,822 | 1.92 | ||||||||||||||||||||||
Camden Downs at Cinco Ranch | Katy | TX | 2004 | 1,075 | 318 | 96% | 1,552 | 1.44 | 1,827 | 1.70 | ||||||||||||||||||||||
Camden Downtown | Houston | TX | 2020 | 1,052 | 271 | 90% | 2,618 | 2.49 | 2,761 | 2.63 | ||||||||||||||||||||||
Camden Grand Harbor | Katy | TX | 2008 | 959 | 300 | 95% | 1,422 | 1.48 | 1,681 | 1.75 | ||||||||||||||||||||||
Camden Greenway | Houston | TX | 1999 | 861 | 756 | 96% | 1,486 | 1.73 | 1,732 | 2.01 | ||||||||||||||||||||||
Camden Heights | Houston | TX | 2004 | 927 | 352 | 96% | 1,627 | 1.75 | 1,886 | 2.03 | ||||||||||||||||||||||
Camden Highland Village | Houston | TX | 2014/2015 | 1,172 | 552 | 95% | 2,335 | 1.99 | 2,516 | 2.15 | ||||||||||||||||||||||
Camden Holly Springs | Houston | TX | 1999 | 934 | 548 | 95% | 1,435 | 1.54 | 1,705 | 1.82 | ||||||||||||||||||||||
Camden McGowen Station | Houston | TX | 2018 | 1,004 | 315 | 93% | 2,087 | 2.08 | 2,299 | 2.29 | ||||||||||||||||||||||
Camden Midtown | Houston | TX | 1999 | 844 | 337 | 94% | 1,563 | 1.85 | 1,846 | 2.19 | ||||||||||||||||||||||
Camden Northpointe | Tomball | TX | 2008 | 940 | 384 | 95% | 1,373 | 1.46 | 1,658 | 1.76 | ||||||||||||||||||||||
Camden Plaza | Houston | TX | 2007 | 915 | 271 | 96% | 1,692 | 1.85 | 1,949 | 2.13 | ||||||||||||||||||||||
Camden Post Oak | Houston | TX | 2003 | 1,200 | 356 | 95% | 2,522 | 2.10 | 2,856 | 2.38 | ||||||||||||||||||||||
Camden Royal Oaks | Houston | TX | 2006 | 923 | 236 | 97% | 1,464 | 1.59 | 1,534 | 1.66 | ||||||||||||||||||||||
Camden Royal Oaks II | Houston | TX | 2012 | 1,054 | 104 | 97% | 1,693 | 1.61 | 1,763 | 1.67 | ||||||||||||||||||||||
Camden Spring Creek | Spring | TX | 2004 | 1,080 | 304 | 93% | 1,467 | 1.36 | 1,688 | 1.56 | ||||||||||||||||||||||
Camden Stonebridge | Houston | TX | 1993 | 845 | 204 | 96% | 1,269 | 1.50 | 1,507 | 1.78 | ||||||||||||||||||||||
Camden Sugar Grove | Stafford | TX | 1997 | 921 | 380 | 96% | 1,408 | 1.53 | 1,630 | 1.77 | ||||||||||||||||||||||
Camden Travis Street | Houston | TX | 2010 | 819 | 253 | 95% | 1,519 | 1.85 | 1,774 | 2.17 | ||||||||||||||||||||||
Camden Vanderbilt | Houston | TX | 1996/1997 | 863 | 894 | 94% | 1,537 | 1.78 | 1,824 | 2.11 | ||||||||||||||||||||||
Camden Whispering Oaks | Houston | TX | 2008 | 936 | 274 | 96% | 1,436 | 1.53 | 1,704 | 1.82 | ||||||||||||||||||||||
Camden Woodson Park | Houston | TX | 2008 | 916 | 248 | 95% | 1,344 | 1.47 | 1,591 | 1.74 | ||||||||||||||||||||||
Camden Yorktown | Houston | TX | 2008 | 995 | 306 | 95% | 1,345 | 1.35 | 1,536 | 1.54 | ||||||||||||||||||||||
Total Houston | 26 | Properties | 956 | 9,154 | 95% | 1,637 | 1.71 | 1,879 | 1.97 | |||||||||||||||||||||||
TOTAL TEXAS | 52 | Properties | 931 | 19,064 | 95% | 1,674 | 1.80 | 1,918 | 2.06 | |||||||||||||||||||||||
TOTAL PROPERTIES | 172 | Properties | 960 | 58,702 | 96% | $1,952 | $2.03 | $2,241 | $2.33 | |||||||||||||||||||||||