HOUSTON--(BUSINESS WIRE)--
Camden Property Trust (NYSE: CPT) today announced that it is offering
4,750,000 common shares in an underwritten public offering. Camden
intends to use the net proceeds for general corporate purposes, which
may include financing for acquisitions and funding for development
activities, reducing borrowings under our $600 million unsecured line of
credit, the repayment of other indebtedness, and the redemption or other
repurchase of outstanding debt or equity securities. 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.
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC will serve
as the joint book-running managers. Camden has also granted the
underwriters an option to purchase an additional 712,500 common shares.
The underwriters may offer the common shares from time to time for sale
in one or more transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or otherwise at
market prices prevailing at the time of sale, at prices related to
prevailing market prices or at negotiated prices.
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 Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, NY 10005-2836, Telephone: (800) 503-4611, Email: prospectus.cpdg@db.com
or J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (866)
803-9204.
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 (the "Company") 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.
Factors which may cause Camden’s (the "Company's") actual results or
performance to differ materially from those contemplated by
forward-looking statements are described under the heading “Risk
Factors” in Camden’s Annual Report on Form 10-K and in other filings
with the Securities and Exchange Commission (SEC). Forward-looking
statements made in today’s press release represent management’s current
opinions at the time of this publication, and Camden (the
"Company")assumes no obligation to update or supplement these statements
because of subsequent events.
Camden Property Trust, an S&P 400 Company, is a real estate company
engaged in the ownership, management, development, redevelopment,
acquisition, and construction of multifamily apartment communities.
Camden owns interests in and operates 155 properties containing 53,771
apartment homes across the United States. Upon completion of 6
properties under development, the Company’s portfolio will increase to
55,644 apartment homes in 161 properties. Camden was recently named by
FORTUNE® Magazine for the tenth consecutive year as one of the “100 Best
Companies to Work For” in America, ranking #22.
For additional information, please contact Camden's Investor Relations
Department at (713) 354-2787.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170911006251/en/
Camden Property Trust
Kim Callahan, 713-354-2549
Source: Camden Property Trust