Camden Property Trust Announces Sale of Common Shares
June 01 2006 - 5:10PM
Business Wire
Camden Property Trust (NYSE:CPT) today announced that it has agreed
to sell 3,600,000 common shares. Camden intends to use the net
proceeds from the sale to reduce indebtedness on its unsecured line
of credit allowing additional capacity to fund its current and
future development activities and for general corporate purposes.
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. will act as sole bookrunning underwriter for the
offering. Camden has also granted Deutsche Bank Securities Inc. an
option to purchase an additional 360,000 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 Deutsche Bank Securities Inc., 60
Wall Street, New York, NY 10005, Attention: Syndicate Department.
Camden Property Trust is a real estate company engaged in the
ownership, development, acquisition, management and disposition of
multifamily apartment communities. Camden owns interests in and
operates 185 properties containing 63,664 apartment homes across
the United States. Upon completion of 13 properties under
development, the Company's portfolio will increase to 68,183
apartment homes in 198 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 or access our website at
http://www.camdenliving.com.
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