Article Excerpt:
TWST: Would you give us a history of the company and a picture of the main things you are doing now?Mr. Campo: Camden is a fully integrated owner and developer of multifamily properties nationwide. We are a real estate investment trust (REIT) with properties in 16 major markets from the mid-Atlantic and Washington, DC, area, through the South and Southeast, and across to Southern California and Las Vegas. We have a total market capitalization of approximately $6.5 billion and 70,000 apartment homes, which are home to around 100,000 residents, with 200 properties around the country. We are very focused on delivering living excellence to our residents in order to maintain high occupancies and high rental rate increases over the years. We are also very engaged in the development of new properties, primarily on the East Coast and the West Coast, where we currently have a $1.4 billion development pipeline that will be built over the next two to three years, adding reasonable external growth to the company.
TWST: Would you discuss the theme of living excellence?
Mr. Campo: Living Excellence is part of our brand promise. It's about
residents seeing excellence everywhere they look in their involvement
with the company. It translates to better net operating income (NOI)
growth from the company compared to our competitors. Over the last 10
years, Camden's same-store net operating income has grown about 3.2%,
and that's through the good times and the recession that we experienced
in early 2000. Our competitors have grown their same-store NOI at about
1.1%. So we have had a nearly 200 basis point outperformance over 10
years against our peers, and that's what Living Excellence is about.
It's about creating a brand awareness within the customer and the
employees of the company so they can deliver better results to the
competitors in any market condition.
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