Portfolio

Camden is a national organization strategically focused on building, buying and selling apartment communities to maintain a high-quality portfolio balanced by geography and product type. Our strategy, Market Balance, is built around a core market operating strategy. Diversification is achieved through internal growth along with carefully staged acquisitions, developments and mergers. Through coast-to-coast diversification of our core markets and expansion into strategic high-growth markets, we capitalize on local economic strengths and establish entry points for future opportunities.

In 2005, we achieved our goal of geographic diversity with one transaction - our merger with Summit Properties. The merger moved Camden into four East Coast markets: Atlanta, Raleigh, Washington, D.C. and Southeast Florida. It enhanced our geographic diversity and more evenly distributed the NOI concentration throughout our markets. Today we are located in eighteen high-growth markets throughout the lower half of the United States - most of which are poised to lead the nation over the next five years in population growth, household formation and job growth; three key drivers of apartment demand.

In conjunction with geographic diversity, we have product diversity. We offer one, two and three bedroom garden-style apartment homes in suburban communities and upscale studios, lofts and town homes in urban mid- and high-rise residences. Having a diverse portfolio concentrated in high-growth markets means that we are able to leverage all stages of the market's cycles and capture a greater market share by offering residents a variety of high-quality apartment homes at varying price points.

We are uniquely positioned for future growth through the ownership of land parcels and development rights in promising markets. Our development pipeline is substantial, with over $2.0 billion in current and future projects. While all of our apartment communities reflect an emphasis on quality, the potential of the local market - its needs, characteristics and growth - dictate the specific type of apartment community acquired or constructed.

Our long-term diversification strategy maximizes our operational stability and minimizes our exposure to fluctuations in regional economics and consumer preferences.