Item 2. Properties

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Item 2. Properties

The Properties

Our properties typically consist of mid-rise buildings or two and three story buildings in a landscaped setting, as well as high-rise buildings, and provide residents with a variety of amenities common to multifamily rental properties.

Operating Properties (including properties held through unconsolidated joint ventures)

The 171 operating properties in which we owned interests and operated at December 31, 2021 averaged 960 square feet of living area per apartment home. For the year ended December 31, 2021, no single operating property accounted for greater than 1.4% of our total revenues. Our stabilized operating properties had a weighted average occupancy rate of approximately 97% and 95% for the years ended December 31, 2021 and 2020, respectively, an average monthly rental revenue per apartment home of $1,671 and $1,599 for the same periods, respectively and our average resident lease terms are approximately fourteen months. At December 31, 2021, 153 of our operating properties had over 200 apartment homes, with the largest having 904 apartment homes. Our operating properties were constructed and placed in service as follows:


Year Placed in Service			Number of Operating Properties
2017-2021			18
2012-2016			32
2007-2011			29
2002-2006			27
1997-2001			43
Prior to 1997			22

Table of Contents

Property Table

The following table sets forth information with respect to our 171 operating properties at December 31, 2021:


	OPERATING PROPERTIES
Property and Location	Year Placed in Service	Average Apartment Size (Sq. Ft.)	Number of Apartments	2021 Average Occupancy (1)		2021 Average Monthly Rental Rate per Apartment (2)
ARIZONA
Phoenix/Scottsdale
Camden Chandler	2016	1,146	380	97.6	%	$	1,668
Camden Copper Square	2000	786	332	96.3		1,345
Camden Foothills	2014	1,032	220	97.0		1,871
Camden Legacy	1996	1,067	428	96.3		1,632
Camden Montierra	1999	1,071	249	97.7		1,587
Camden North End I	2019	921	441	96.3		1,722
Camden North End II (3)	2021	885	343	97.2		1,808
Camden Old Town Scottsdale	2016	892	316	97.8		1,886
Camden Pecos Ranch	2001	949	272	97.0		1,378
Camden San Marcos	1995	984	320	97.6		1,506
Camden San Paloma	1993/1994	1,042	324	96.8		1,543
Camden Sotelo	2008/2012	1,303	170	97.9		1,694
Camden Tempe	2015	1,033	234	96.7		1,698
CALIFORNIA
Los Angeles/Orange County
Camden Crown Valley	2001	1,009	380	98.2		2,230
Camden Glendale	2015	893	307	97.2		2,426
Camden Harbor View	2004	981	547	97.5		2,657
Camden Main and Jamboree	2008	1,011	290	98.0		2,171
Camden Martinique	1986	795	714	97.5		1,946
Camden Sea Palms	1990	891	138	98.6		2,225
The Camden	2016	767	287	95.6		2,921
San Diego/Inland Empire
Camden Hillcrest (4)	2021	1,223	132	Lease-up		4,238
Camden Landmark	2006	982	469	97.2		1,833
Camden Old Creek	2007	1,037	350	98.2		2,376
Camden Sierra at Otay Ranch	2003	962	422	97.1		2,217
Camden Tuscany	2003	895	160	96.1		2,678
Camden Vineyards	2002	1,053	264	97.4		1,987
COLORADO
Denver
Camden Belleview Station	2009	888	270	95.4		1,594
Camden Caley	2000	921	218	96.5		1,593
Camden Denver West	1997	1,015	320	97.0		1,910
Camden Flatirons	2015	960	424	96.6		1,741
Camden Highlands Ridge	1996	1,149	342	97.7		1,908
Camden Interlocken	1999	1,002	340	97.0		1,763
Camden Lakeway	1997	932	451	95.6		1,701

Table of Contents


	OPERATING PROPERTIES
Property and Location	Year Placed in Service	Average Apartment Size (Sq. Ft.)	Number of Apartments	2021 Average Occupancy (1)		2021 Average Monthly Rental Rate per Apartment (2)
Camden Lincoln Station	2017	844	267	96.1	%	$	1,649
Camden RiNo (3)	2020	828	233	98.0		1,845
WASHINGTON DC METRO
Camden Ashburn Farm	2000	1,062	162	97.4		1,825
Camden College Park	2008	942	509	96.2		1,691
Camden Dulles Station	2009	977	382	96.9		1,900
Camden Fair Lakes	1999	1,056	530	97.2		1,950
Camden Fairfax Corner	2006	934	489	97.1		1,973
Camden Fallsgrove	2004	996	268	96.8		1,888
Camden Grand Parc	2002	672	105	96.7		2,520
Camden Lansdowne	2002	1,006	690	97.3		1,778
Camden Largo Town Center	2000/2007	1,027	245	97.0		1,776
Camden Monument Place	2007	856	368	96.6		1,719
Camden NoMa	2014	769	321	96.4		2,135
Camden NoMa II	2017	759	405	96.3		2,216
Camden Potomac Yard	2008	832	378	96.5		2,041
Camden Roosevelt	2003	856	198	96.1		2,839

Camden Shady Grove	2018	877	457	96.8		1,822
Camden Silo Creek	2004	975	284	98.0		1,766
Camden South Capitol (5)	2013	821	281	95.9		2,264
Camden Washingtonian	2018	870	365	97.6		1,851
FLORIDA
Southeast Florida
Camden Aventura	1995	1,108	379	97.5		2,063
Camden Boca Raton	2014	843	261	97.1		2,077
Camden Brickell	2003	937	405	97.5		2,218
Camden Doral	1999	1,120	260	98.2		1,972
Camden Doral Villas	2000	1,253	232	98.5		2,182
Camden Las Olas	2004	1,043	420	97.5		2,184
Camden Plantation	1997	1,201	502	98.1		1,804
Camden Portofino	1995	1,112	322	98.5		1,875
Orlando
Camden Hunter’s Creek	2000	1,075	270	98.0		1,483
Camden Lago Vista	2005	955	366	97.5		1,391
Camden Lake Eola (4)	2021	944	360	Lease-up		2,177
Camden LaVina	2012	969	420	96.8		1,418
Camden Lee Vista	2000	937	492	97.0		1,415
Camden North Quarter	2016	806	333	97.2		1,536
Camden Orange Court	2008	817	268	97.1		1,387
Camden Thornton Park	2016	920	299	92.3		1,760
Camden Town Square	2012	983	438	97.1		1,423
Camden Waterford Lakes (5)	2014	971	300	97.3		1,501
Camden World Gateway	2000	979	408	97.4		1,438

Table of Contents


	OPERATING PROPERTIES
Property and Location	Year Placed in Service	Average Apartment Size (Sq. Ft.)	Number of Apartments	2021 Average Occupancy (1)		2021 Average Monthly Rental Rate per Apartment (2)
Tampa/St. Petersburg
Camden Bay	1997/2001	943	760	97.3	%	$	1,395
Camden Central (6)	2019	943	368	97.8		3,304
Camden Montague	2012	972	192	98.0		1,440
Camden Pier District	2016	989	358	98.3		2,689
Camden Preserve	1996	942	276	97.7		1,583
Camden Royal Palms	2006	1,017	352	97.7		1,378
Camden Visconti (5)	2007	1,125	450	96.6		1,572
Camden Westchase Park	2012	992	348	98.0		1,555
GEORGIA
Atlanta
Camden Brookwood	2002	916	359	96.7		1,509
Camden Buckhead Square	2015	827	250	96.9		1,607
Camden Creekstone	2002	990	223	98.2		1,466
Camden Deerfield	2000	1,187	292	94.4		1,553
Camden Dunwoody	1997	1,007	324	97.7		1,444
Camden Fourth Ward	2014	844	276	97.5		1,785
Camden Midtown Atlanta	2001	935	296	97.1		1,575
Camden Paces	2015	1,408	379	97.1		2,664
Camden Peachtree City	2001	1,027	399	96.9		1,473
Camden Phipps (5)	1996	1,016	234	96.2		1,632
Camden Shiloh	1999/2002	1,143	232	98.3		1,422
Camden St. Clair	1997	999	336	96.9		1,454
Camden Stockbridge	2003	1,009	304	97.8		1,329
Camden Vantage	2010	901	592	95.6		1,522
NORTH CAROLINA
Charlotte
Camden Ballantyne	1998	1,048	400	96.6		1,369
Camden Cotton Mills	2002	905	180	96.1		1,503
Camden Dilworth	2006	857	145	95.1		1,516
Camden Fairview	1983	1,036	135	96.6		1,263
Camden Foxcroft	1979	940	156	96.3		1,158
Camden Foxcroft II	1985	874	100	97.0		1,272
Camden Gallery	2017	743	323	95.9		1,605
Camden Grandview	2000	1,059	266	97.4		1,754
Camden Grandview II	2019	2,241	28	97.4		3,544
Camden Sedgebrook	1999	972	368	96.4		1,247
Camden South End	2003	878	299	95.7		1,527
Camden Southline (5)	2015	831	266	95.2		1,613
Camden Stonecrest	2001	1,098	306	96.6		1,416
Camden Touchstone	1986	899	132	97.9		1,170
Raleigh
Camden Asbury Village (5)	2009	1,009	350	97.5		1,336

Table of Contents


	OPERATING PROPERTIES
Property and Location	Year Placed in Service	Average Apartment Size (Sq. Ft.)	Number of Apartments	2021 Average Occupancy (1)		2021 Average Monthly Rental Rate per Apartment (2)
Camden Carolinian	2017	1,118	186	95.6	%	$	2,125
Camden Crest	2001	1,014	438	96.6		1,174
Camden Governor’s Village	1999	1,046	242	98.1		1,227
Camden Lake Pine	1999	1,066	446	97.9		1,288
Camden Manor Park	2006	966	484	96.3		1,282
Camden Overlook	2001	1,061	322	97.0		1,363
Camden Reunion Park	2000/2004	972	420	97.0		1,181
Camden Westwood	1999	1,022	360	96.0		1,225
TENNESSEE
Nashville
Camden Franklin Park (6)	2018	967	328	97.5		1,743
Camden Music Row (6)	2016	903	430	97.1		2,198
TEXAS
Austin
Camden Amber Oaks (5)	2009	862	348	97.8		1,212
Camden Amber Oaks II (5)	2012	910	244	97.0		1,299
Camden Brushy Creek (5)	2008	882	272	97.9		1,305
Camden Cedar Hills	2008	911	208	96.5		1,427
Camden Gaines Ranch	1997	955	390	97.4		1,575
Camden Huntingdon	1995	903	398	96.5		1,266
Camden La Frontera	2015	901	300	97.3		1,331
Camden Lamar Heights	2015	838	314	95.6		1,554
Camden Rainey Street	2016	873	326	97.3		2,078
Camden Shadow Brook (5)	2009	909	496	97.4		1,281
Camden Stoneleigh	2001	908	390	98.0		1,399

Dallas/Fort Worth
Camden Addison	1996	942	456	97.1		1,320
Camden Belmont	2010/2012	946	477	97.0		1,496
Camden Buckingham	1997	919	464	97.6		1,310
Camden Centreport	1997	912	268	97.7		1,281
Camden Cimarron	1992	772	286	96.6		1,305
Camden Design District (5)	2009	939	355	96.9		1,436
Camden Farmers Market	2001/2005	932	904	96.1		1,389
Camden Greenville (6)	2017/2018	1,028	558	94.2		2,064
Camden Henderson	2012	966	106	97.6		1,573
Camden Legacy Creek	1995	831	240	96.7		1,376
Camden Legacy Park	1996	870	276	96.2		1,365
Camden Panther Creek (5)	2009	946	295	97.4		1,399
Camden Riverwalk (5)	2008	989	600	97.0		1,543
Camden Valley Park	1986	743	516	97.3		1,131
Camden Victory Park	2016	861	423	96.6		1,699
Houston
Camden City Centre	2007	932	379	94.8		1,447

Table of Contents


	OPERATING PROPERTIES
Property and Location	Year Placed in Service	Average Apartment Size (Sq. Ft.)	Number of Apartments	2021 Average Occupancy (1)		2021 Average Monthly Rental Rate per Apartment (2)
Camden City Centre II	2013	869	268	93.1	%	$	1,418
Camden Cypress Creek (5)	2009	993	310	96.1		1,372
Camden Cypress Creek II (3) (5)	2020	950	234	96.7		1,337
Camden Downs at Cinco Ranch (5)	2004	1,075	318	97.8		1,338
Camden Downtown (3)	2020	1,052	271	96.1		2,711
Camden Grand Harbor (5)	2008	959	300	97.6		1,241
Camden Greenway	1999	861	756	95.9		1,353
Camden Heights (5)	2004	927	352	95.4		1,494
Camden Highland Village	2014/2015	1,175	552	94.0		2,158
Camden Holly Springs	1999	934	548	96.2		1,260
Camden McGowen Station	2018	1,004	315	95.8		1,971
Camden Midtown	1999	844	337	94.8		1,449
Camden Northpointe (5)	2008	940	384	97.1		1,192


Camden Plaza	2007	915	271	95.5		1,571
Camden Post Oak	2003	1,200	356	94.5		2,411
Camden Royal Oaks	2006	923	236	93.7		1,399
Camden Royal Oaks II	2012	1,054	104	90.4		1,646
Camden Spring Creek (5)	2004	1,080	304	96.5		1,270
Camden Stonebridge	1993	845	204	96.5		1,134
Camden Sugar Grove	1997	921	380	97.2		1,232
Camden Travis Street	2010	819	253	95.4		1,415
Camden Vanderbilt	1996/1997	863	894	93.7		1,373
Camden Whispering Oaks	2008	936	274	96.9		1,283
Camden Woodson Park (5)	2008	916	248	95.0		1,198
Camden Yorktown (5)	2008	995	306	96.6		1,194

*(1)*Represents the average physical occupancy for the year except as noted.

*(2)*The average monthly rental rate per apartment incorporates vacant units and resident concessions calculated on a straight-line basis over the life of the lease.

*(3)*Development property stabilized during 2021 - the average occupancy was calculated from the date at which the occupancy exceeded 90% through December 31, 2021.

*(4)*Property under lease-up at December 31, 2021.

*(5)*Property owned through an unconsolidated joint venture in which we own a 31.3% interest. The remaining interest is owned by an unaffiliated third-party.

*(6)*Property acquired in 2021 - the average occupancy was calculated from the date the property was acquired.

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