Camden Readies Up to $600M in New Development

HOUSTON-Camden Property Trust’s Chairman and CEO Ric Campo said the REIT plans to capitalize on the “best multifamily operating environment” in a decade by ramping up its development activities. It plans to break ground on $150 million in new development projects before the end of 2011 and expects to advance $400 million to $600 million in ground up construction opportunities in 2012.

Campo made the announcement during the REIT’s second quarter 2011 earnings conference call. Camden has eight properties under development currently including: Camden LaVina, a $61 million project in Orlando, FL; Camden Summerfield II, a $32 million project in Landover, MD; and Camden Royal Oaks II, a $14 million project in Houston.