Camden Property Trust Announces Amended and Restated $500 Million Unsecured Credit Facility

HOUSTON--(BUSINESS WIRE)--Camden Property Trust (NYSE: CPT) today announced the closing of an amended and restated $500 million unsecured revolving credit facility. The initial term of the credit facility is four years, and it may be extended at the Company's option for an additional one year period. The credit facility also contains an accordion feature, which allows the Company to increase its credit facility amount up to $750 million.

Borrowing rates under the credit facility float at a margin over LIBOR plus an annual facility fee. Both the margin and the facility fee are priced off a grid that is tied to the Company’s senior unsecured credit ratings. Based on the Company’s current senior unsecured credit rating the LIBOR margin is 1.1% and the annual facility fee is 0.175%.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC served as Joint Lead Arrangers and Joint Bookrunners. Bank of America, N.A. serves as the Administrative Agent; JPMorgan Chase Bank, N.A. serves as the Syndication Agent; and Wells Fargo Bank, N.A., SunTrust Bank, PNC Bank, National Association, Deutsche Bank Securities Inc., Regions Bank, and U.S. Bank National Association all serve as Documentation Agents. Credit Suisse AG, Cayman Islands Branch and The Bank of Nova Scotia serve as Managing Agents. Other lenders involved in the transaction include Branch Banking & Trust Company, Capital One, N.A., Comerica Bank, Compass Bank, and The Bank of Tokyo-Mitsubishi UFJ, Ltd.

Additional information regarding the credit facility can be found in the Company’s Form 8-K filed on September 26, 2011 with the Securities and Exchange Commission (SEC).

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.

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 197 properties containing 67,452 apartment homes across the United States. Upon completion of eight properties under development, the Company's portfolio will increase to 69,661 apartment homes in 205 properties. Camden was recently named by FORTUNE® Magazine for the fourth consecutive year as one of the “100 Best Companies to Work For” in America, placing 7^th on the list.

For additional information, please contact Camden’s Investor Relations Department at [phone] or [phone] or access our website at camdenliving.com.