Camden Property Trust Provides Update on Los Angeles Wildfires

HOUSTON--(BUSINESS WIRE)--Camden Property Trust (NYSE:CPT) (the “Company”) announced today that its apartment communities located in the Los Angeles area have not sustained damage from the recent wildfires and the Company stands ready to assist those affected in need of housing.

“Our top priority during times like this is focusing on the health and safety of our residents and team members, and helping our neighbors who have been impacted by this devastating event,” said Richard J. Campo, Camden’s Chairman and Chief Executive Officer. “We are committed to doing our part and offering assistance to those seeking alternate housing options, as we have done in the aftermath of hurricanes, storms, and other disasters in the regions where we operate.”

Camden plans to temporarily waive application fees, offer flexible lease terms, and freeze new lease rates at its communities in the area during this time of need. Additionally, we are mobilizing Camden Cares across California to collect essential items for those affected by the wildfires.

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. Factors which may cause the Company’s actual results or performance to differ materially from those contemplated by forward-looking statements are described under the heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission (SEC). Forward-looking statements made in today’s press release represent management’s current opinions at the time of this publication, and the Company assumes no obligation to update or supplement these statements because of subsequent events.

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States. Upon completion of 5 properties currently under development, the Company’s portfolio will increase to 59,996 apartment homes in 177 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 17 consecutive years, most recently ranking #24.

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