Camden Property Trust Announces Closing of Offering of Common Shares
January 19 2012 - 4:15PM
Business Wire
Camden Property Trust (NYSE:CPT) today announced the closing of
a public offering of 6,612,500 common shares, which includes
862,500 shares issued as a result of the underwriters' exercise of
their option to purchase these shares in full at the closing. The
company received approximately $391.6 million in net proceeds from
the offering after deducting the underwriting discounts and
commissions and estimated expenses of the 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, and for general corporate purposes.
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, newyork.prospectus@credit-suisse.com; 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 prospectus.cpdg@db.com; 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 195 properties containing
66,640 apartment homes across the United States. Upon completion of
ten properties under development, the Company’s portfolio will
increase to 69,437 apartment homes in 205 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.
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