HOUSTON – Camden Property Trust, a Houston-based REIT led by Ric Campo, has started construction on Camden McGowen in Houston’s Midtown area.
The $90 million project will have 315 units and is expected to be completed in 2017.
Camden recently announced its earnings. Camden’s funds from operations (FFO) for the fourth quarter of 2014 totaled $0.99 per diluted share or $90.3 million, as compared to $1.08 per diluted share or $96.9 million for the same period in 2013.
Camden owns interests in and operates 167 properties containing 58,664 units across the United States. Upon completion of 13 properties under development, the Camden’s portfolio will increase to 62,879 units.