Camden Property Trust Announces Public Offering of Common Shares
HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (CPT) today announced that it is offering 5,750,000 common shares in an underwritten public offering. Camden intends to use the net proceeds to fund the acquisition of the 80% interest not currently owned by Camden in 12 related joint ventures and the repayment of the mortgage debt secured by properties owned by these joint ventures. All of the shares are being offered by Camden and will be issued under Camden's currently effective shelf registration statement filed with the Securities and Exchange Commission.
Credit Suisse, Deutsche Bank Securities and UBS Investment Bank will act as the underwriters for the offering. Camden has also granted the underwriters an option to purchase an additional 862,500 common shares.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any Camden common shares, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained when available from Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037; Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, NJ 07311-3988, by calling (800) 503-4611, or by emailing firstname.lastname@example.org; or UBS Investment Bank, attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, (877) 827-7275.
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. Camden owns interests in and operates 196 properties containing 66,997 apartment homes across the United States. Upon completion of 10 properties under development, the Company's portfolio will increase to 69,794 apartment homes in 206 properties.
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.
For additional information, please contact Camden's Investor Relations Department at (800) 922-6336 or (713) 354-2787.
Camden Property Trust
Kim Callahan, 713-354-2549
Source: Camden Property TrustCopyright Business Wire 2012