Texas (State of Other Jurisdiction of Incorporation or Organization) 3 Greenway Plaza, Suite 1300 Houston, Texas (Address of Principle Executive Offices) | 76-6088377 (I.R.S. Employer Identification No.) 77046 (Zip Code) |
Registrant’s telephone number, including area code:(713) 354-2500 |
Title of each class | Name of each exchange on which registered | |
Common Shares of Beneficial Interest, $.01 par value | New York Stock Exchange |
TABLE OF CONTENTS
Page | ||
---|---|---|
PART I | ||
Item 1. | Business | 3 |
Item 2. | Properties | 6 |
Item 3. | Legal Proceedings | 10 |
Item 4. | Submission of Matters to a Vote of Security Holders | 11 |
PART II | ||
Item 5. | Market for Registrant's Common Equity and Related Stockholder Matters | 11 |
Item 6. | Selected Financial Data | 11 |
Item 7. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 11 |
Item 7a. | Quantitative and Qualitative Disclosures About Market Risk | 11 |
Item 8. | Financial Statements and Supplementary Data | 11 |
Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 11 |
Item 9a. | Controls and Procedures | 11 |
PART III | ||
Item 10. | Directors and Executive Officers of the Registrant | 11 |
Item 11. | Executive Compensation | 12 |
Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 12 |
Item 13. | Certain Relationships and Related Transactions | 12 |
Item 14. | Principal Accountant Fees and Service | 12 |
Item 15. | Exhibits, Financial Statement Schedules, and Reports on Form 8-K | 12 |
SIGNATURES | 18 |
o | the results of our efforts to implement our property development, construction and acquisition strategies; | ||
o | the effects of economic conditions, including rising interest rates; | ||
o | our ability to generate sufficient cash flows; | ||
o | the failure to qualify as a real estate investment trust; | ||
o | the costs of our capital and debt; | ||
o | changes in our capital requirements; | ||
o | the actions of our competitors and our ability to respond to those actions; | ||
o | the performance of our mezzanine financing program | ||
o | changes in governmental regulations, tax rates and similar matters; and | ||
o | environmental uncertainties and disasters. |
Year Placed in Service | Number of Properties | ||
---|---|---|---|
1997 - 2003 | 29 | ||
1992 - 1996 | 29 | ||
1987 - 1991 | 28 | ||
1982 - 1986 | 47 | ||
Prior to 1982 | 11 |
Property Table The following table sets forth informationwith respect to our operating properties at December 31, 2003. 6 |
OPERATING PROPERTIES | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
December 2003 Avg. Mo. Rental Rates | |||||||||||||||||||||
Property and Location | Number of Apartments | Year Placed In Service | Average Apartment Size (Sq. Ft.) | 2003 Average Occupancy (1) | Per Apartment | Per Sq. Ft. | |||||||||||||||
ARIZONA | |||||||||||||||||||||
Phoenix | |||||||||||||||||||||
Camden Copper Square | 332 | 2000 | 786 | 84.7 | % | $ | 831 | $ | 1.06 | ||||||||||||
Camden Fountain Palms | 192 | 1986/1996 | 1,050 | 94.8 | 772 | 0.73 | |||||||||||||||
Camden Legacy | 428 | 1996 | 1,067 | 94.5 | 923 | 0.87 | |||||||||||||||
Camden Pecos Ranch | 272 | 2001 | 924 | 94.1 | 854 | 0.92 | |||||||||||||||
Camden San Paloma | 324 | 1993/1994 | 1,042 | 92.0 | 1029 | 0.99 | |||||||||||||||
Camden Sierra | 288 | 1997 | 925 | 91.9 | 762 | 0.82 | |||||||||||||||
Camden Towne Center | 240 | 1998 | 871 | 95.3 | 798 | 0.92 | |||||||||||||||
Camden Vista Valley | 357 | 1986 | 923 | 95.4 | 728 | 0.79 | |||||||||||||||
Tucson | |||||||||||||||||||||
Camden Pass | 456 | 1984 | 559 | 95.5 | 470 | 0.84 | |||||||||||||||
Camden View | 365 | 1974 | 1,026 | 90.9 | 725 | 0.71 | |||||||||||||||
CALIFORNIA | |||||||||||||||||||||
Orange County | |||||||||||||||||||||
Camden Crown Valley | 380 | 2001 | 1,009 | 94.8 | 1,512 | 1.50 | |||||||||||||||
Camden Martinique | 714 | 1986 | 795 | 96.3 | 1,319 | 1.66 | |||||||||||||||
Camden Parkside | 421 | 1972 | 835 | 95.9 | 1,187 | 1.42 | |||||||||||||||
Camden Sea Palms | 138 | 1990 | 891 | 97.7 | 1,388 | 1.56 | |||||||||||||||
Camden Sierra at Otay Ranch (2) | 422 | 2003 | 962 | In Lease-Up | 1,451 | 1.51 | |||||||||||||||
Camden Tuscany (3) | 160 | 2003 | 891 | 96.5 | 1,937 | 2.17 | |||||||||||||||
Camden Vineyards (3) | 264 | 2002 | 1,053 | 94.5 | 1,295 | 1.23 | |||||||||||||||
COLORADO | |||||||||||||||||||||
Denver | |||||||||||||||||||||
Camden Arbors | 358 | 1986 | 810 | 91.9 | 867 | 1.07 | |||||||||||||||
Camden Caley | 218 | 2000 | 925 | 92.0 | 1,006 | 1.09 | |||||||||||||||
Camden Centennial | 276 | 1985 | 744 | 92.6 | 832 | 1.12 | |||||||||||||||
Camden Denver West (4) | 320 | 1997 | 1,015 | 93.5 | 1,201 | 1.18 | |||||||||||||||
Camden Highlands Ridge | 342 | 1996 | 1,141 | 94.3 | 1,246 | 1.09 | |||||||||||||||
Camden Interlocken | 340 | 1999 | 1,022 | 92.7 | 1,262 | 1.23 | |||||||||||||||
Camden Lakeway | 451 | 1997 | 919 | 91.5 | 1,085 | 1.18 | |||||||||||||||
Camden Pinnacle | 224 | 1985 | 748 | 96.4 | 831 | 1.11 | |||||||||||||||
FLORIDA | |||||||||||||||||||||
Orlando | |||||||||||||||||||||
Camden Club | 436 | 1986 | 1,077 | 91.1 | 885 | 0.82 | |||||||||||||||
Camden Fountains | 552 | 1984/1986 | 747 | 93.9 | 631 | 0.84 | |||||||||||||||
Camden Landings | 220 | 1983 | 748 | 95.3 | 674 | 0.90 | |||||||||||||||
Camden Lee Vista | 492 | 2000 | 937 | 91.9 | 848 | 0.91 | |||||||||||||||
Camden Renaissance | 578 | 1996/1998 | 899 | 94.7 | 814 | 0.90 | |||||||||||||||
Camden Reserve | 526 | 1990/1991 | 824 | 91.2 | 749 | 0.91 | |||||||||||||||
Tampa/St. Petersburg | |||||||||||||||||||||
Camden Bay | 760 | 1997/2001 | 943 | 92.7 | 883 | 0.94 | |||||||||||||||
Camden Bay Pointe | 368 | 1984 | 771 | 93.9 | 684 | 0.89 | |||||||||||||||
Camden Bayside | 832 | 1987/1989 | 748 | 92.0 | 733 | 0.98 | |||||||||||||||
Camden Citrus Park | 247 | 1985 | 704 | 94.2 | 653 | 0.93 | |||||||||||||||
Camden Isles | 484 | 1983/1985 | 722 | 94.3 | 644 | 0.89 | |||||||||||||||
Camden Lakes | 688 | 1982/1983 | 728 | 92.7 | 686 | 0.94 | |||||||||||||||
Camden Lakeside | 228 | 1986 | 728 | 94.0 | 693 | 0.95 | |||||||||||||||
Camden Live Oaks | 770 | 1990 | 1,093 | 92.8 | 796 | 0.73 | |||||||||||||||
Camden Preserve | 276 | 1996 | 942 | 92.0 | 954 | 1.01 | |||||||||||||||
Camden Providence Lakes | 260 | 1996 | 1,024 | 95.5 | 837 | 0.82 | |||||||||||||||
Camden Westshore | 278 | 1986 | 728 | 93.5 | 746 | 1.03 | |||||||||||||||
Camden Woods | 444 | 1986 | 1,223 | 94.2 | 821 | 0.67 | |||||||||||||||
Camden Ybor City (3) | 454 | 2002 | 843 | 93.7 | 906 | 1.08 | |||||||||||||||
KENTUCKY | |||||||||||||||||||||
Louisville | |||||||||||||||||||||
Camden Brookside | 224 | 1987 | 732 | 91.8 | 654 | 0.89 | |||||||||||||||
Camden Downs | 254 | 1975 | 682 | 96.4 | 573 | 0.84 | |||||||||||||||
Camden Meadows | 400 | 1987/1990 | 746 | 92.1 | 663 | 0.89 | |||||||||||||||
Camden Oxmoor | 432 | 2000 | 903 | 91.6 | 784 | 0.87 | |||||||||||||||
Camden Prospect Park | 138 | 1990 | 916 | 91.8 | 757 | 0.83 |
7 |
OPERATING PROPERTIES | |||||||||||||||||||||
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December 2003 Avg. Mo. Rental Rates | |||||||||||||||||||||
Property and Location | Number of Apartments | Year Placed In Service | Average Apartment Size (Sq. Ft.) | 2003 Average Occupancy (1) | Per Apartment | Per Sq. Ft. | |||||||||||||||
MISSOURI | |||||||||||||||||||||
Kansas City | |||||||||||||||||||||
Camden Passage | 596 | 1989/1997 | 832 | 94.7 | % | $ | 750 | $ | 0.90 | ||||||||||||
St. Louis | |||||||||||||||||||||
Camden Cedar Lakes | 420 | 1986 | 852 | 94.4 | 646 | 0.76 | |||||||||||||||
Camden Cove West | 276 | 1990 | 828 | 89.1 | 973 | 1.18 | |||||||||||||||
Camden Cross Creek | 591 | 1973/1980 | 947 | 91.7 | 850 | 0.90 | |||||||||||||||
Camden Taravue | 304 | 1975 | 676 | 92.4 | 593 | 0.88 | |||||||||||||||
Camden Trace | 372 | 1972 | 1,158 | 95.0 | 810 | 0.70 | |||||||||||||||
Camden Westchase | 160 | 1986 | 945 | 93.9 | 954 | 1.01 | |||||||||||||||
NEVADA | |||||||||||||||||||||
Las Vegas | |||||||||||||||||||||
Camden Bel Air | 528 | 1988/1995 | 943 | 93.7 | 822 | 0.87 | |||||||||||||||
Camden Breeze | 320 | 1989 | 846 | 96.1 | 743 | 0.88 | |||||||||||||||
Camden Canyon | 200 | 1995 | 987 | 95.6 | 812 | 0.82 | |||||||||||||||
Camden Commons | 376 | 1988 | 936 | 94.2 | 828 | 0.88 | |||||||||||||||
Camden Cove | 124 | 1990 | 898 | 95.3 | 752 | 0.84 | |||||||||||||||
Camden Del Mar | 560 | 1995 | 986 | 96.7 | 857 | 0.87 | |||||||||||||||
Camden Fairways | 320 | 1989 | 896 | 96.1 | 808 | 0.90 | |||||||||||||||
Camden Greens | 432 | 1990 | 892 | 95.6 | 784 | 0.88 | |||||||||||||||
Camden Hills | 184 | 1991 | 579 | 95.6 | 561 | 0.97 | |||||||||||||||
Camden Legends | 113 | 1994 | 792 | 91.6 | 796 | 1.00 | |||||||||||||||
Camden Palisades | 624 | 1991 | 905 | 93.6 | 820 | 0.91 | |||||||||||||||
Camden Pines | 315 | 1997 | 1,005 | 97.6 | 832 | 0.83 | |||||||||||||||
Camden Pointe | 252 | 1996 | 985 | 95.1 | 806 | 0.82 | |||||||||||||||
Camden Summit | 234 | 1995 | 1,187 | 94.6 | 1,127 | 0.95 | |||||||||||||||
Camden Tiara | 400 | 1996 | 1,043 | 95.6 | 898 | 0.86 | |||||||||||||||
Camden Vintage | 368 | 1994 | 978 | 94.7 | 811 | 0.83 | |||||||||||||||
Oasis Bay (5) | 128 | 1990 | 862 | 96.3 | 797 | 0.93 | |||||||||||||||
Oasis Crossings (5) | 72 | 1996 | 983 | 97.1 | 794 | 0.81 | |||||||||||||||
Oasis Emerald (5) | 132 | 1988 | 873 | 97.0 | 642 | 0.74 | |||||||||||||||
Oasis Gateway (5) | 360 | 1997 | 1,146 | 94.9 | 873 | 0.76 | |||||||||||||||
Oasis Heritage (5) | 720 | 1986 | 950 | 95.3 | 597 | 0.63 | |||||||||||||||
Oasis Island (5) | 118 | 1990 | 901 | 94.7 | 662 | 0.73 | |||||||||||||||
Oasis Landing (5) | 144 | 1990 | 938 | 98.1 | 724 | 0.77 | |||||||||||||||
Oasis Meadows (5) | 383 | 1996 | 1,031 | 95.3 | 768 | 0.74 | |||||||||||||||
Oasis Palms (5) | 208 | 1989 | 880 | 96.1 | 720 | 0.82 | |||||||||||||||
Oasis Pearl (5) | 90 | 1989 | 930 | 91.4 | 743 | 0.80 | |||||||||||||||
Oasis Place (5) | 240 | 1992 | 440 | 96.0 | 544 | 1.24 | |||||||||||||||
Oasis Ridge (5) | 477 | 1984 | 391 | 92.9 | 454 | 1.16 | |||||||||||||||
Oasis Sands | 48 | 1994 | 1,125 | 94.9 | 815 | 0.72 | |||||||||||||||
Oasis Sierra (5) | 208 | 1998 | 922 | 96.8 | 814 | 0.88 | |||||||||||||||
Oasis Springs (5) | 304 | 1988 | 838 | 95.0 | 630 | 0.75 | |||||||||||||||
Oasis Suites (5) | 409 | 1988 | 404 | 78.6 | 523 | 1.30 | |||||||||||||||
Oasis Vinings (5) | 234 | 1994 | 1,152 | 94.8 | 809 | 0.70 | |||||||||||||||
NORTH CAROLINA | |||||||||||||||||||||
Charlotte | |||||||||||||||||||||
Camden Eastchase | 220 | 1986 | 698 | 93.4 | 635 | 0.91 | |||||||||||||||
Camden Forest | 208 | 1989 | 703 | 92.9 | 665 | 0.95 | |||||||||||||||
Camden Habersham | 240 | 1986 | 773 | 92.2 | 693 | 0.90 | |||||||||||||||
Camden Park Commons | 232 | 1997 | 859 | 94.4 | 776 | 0.90 | |||||||||||||||
Camden Pinehurst | 407 | 1967 | 1,147 | 92.4 | 792 | 0.69 | |||||||||||||||
Camden Timber Creek | 352 | 1984 | 706 | 91.1 | 673 | 0.95 | |||||||||||||||
Greensboro | |||||||||||||||||||||
Camden Glen | 304 | 1980 | 662 | 94.7 | 603 | 0.91 | |||||||||||||||
Camden Wendover | 216 | 1985 | 795 | 94.5 | 671 | 0.84 |
8 |
OPERATING PROPERTIES | |||||||||||||||||||||
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December 2003 Avg. Mo. Rental Rates | |||||||||||||||||||||
Property and Location | Number of Apartments | Year Placed In Service | Average Apartment Size (Sq. Ft.) | 2003 Average Occupancy (1) | Per Apartment | Per Sq. Ft. | |||||||||||||||
TEXAS | |||||||||||||||||||||
Austin | |||||||||||||||||||||
Camden Briar Oaks | 430 | 1980 | 711 | 94.6 | % | $ | 683 | $ | 0.96 | ||||||||||||
Camden Huntingdon | 398 | 1995 | 903 | 94.7 | 875 | 0.97 | |||||||||||||||
Camden Laurel Ridge | 183 | 1986 | 705 | 94.3 | 690 | 0.98 | |||||||||||||||
Camden Ridge View | 167 | 1984 | 859 | 94.2 | 788 | 0.92 | |||||||||||||||
Camden Ridgecrest | 284 | 1995 | 851 | 95.1 | 831 | 0.98 | |||||||||||||||
Camden Woodview | 283 | 1984 | 644 | 95.0 | 680 | 1.06 | |||||||||||||||
Corpus Christi | |||||||||||||||||||||
Camden Breakers | 288 | 1996 | 861 | 96.9 | 801 | 0.92 | |||||||||||||||
Camden Copper Ridge | 344 | 1986 | 775 | 97.0 | 671 | 0.87 | |||||||||||||||
Camden Miramar (6) | 652 | 1994/2002 | 481 | 83.1 | 745 | 1.55 | |||||||||||||||
Dallas/Fort Worth | |||||||||||||||||||||
Camden Addison | 456 | 1996 | 942 | 91.3 | 916 | 0.97 | |||||||||||||||
Camden Buckingham | 464 | 1997 | 919 | 94.2 | 875 | 0.95 | |||||||||||||||
Camden Centreport | 268 | 1997 | 910 | 91.8 | 854 | 0.94 | |||||||||||||||
Camden Cimarron | 286 | 1992 | 772 | 87.6 | 847 | 1.10 | |||||||||||||||
Camden Farmers Market | 620 | 2001 | 916 | 93.2 | 1,158 | 1.26 | |||||||||||||||
Camden Gardens | 256 | 1983 | 652 | 88.9 | 646 | 0.99 | |||||||||||||||
Camden Glen Lakes | 424 | 1979 | 877 | 90.0 | 803 | 0.92 | |||||||||||||||
Camden Highlands | 160 | 1985 | 816 | 90.6 | 692 | 0.85 | |||||||||||||||
Camden Lakeview | 476 | 1985 | 853 | 92.2 | 676 | 0.79 | |||||||||||||||
Camden Legacy Creek | 240 | 1995 | 831 | 96.2 | 829 | 1.00 | |||||||||||||||
Camden Legacy Park | 276 | 1996 | 871 | 94.6 | 849 | 0.97 | |||||||||||||||
Camden Oaks | 446 | 1985 | 730 | 88.6 | 689 | 0.94 | |||||||||||||||
Camden Oasis | 602 | 1986 | 548 | 87.0 | 608 | 1.11 | |||||||||||||||
Camden Place | 442 | 1984 | 772 | 91.6 | 663 | 0.86 | |||||||||||||||
Camden Ridge | 208 | 1985 | 829 | 95.2 | 663 | 0.80 | |||||||||||||||
Camden Springs | 304 | 1987 | 713 | 87.6 | 654 | 0.92 | |||||||||||||||
Camden Terrace | 340 | 1984 | 848 | 92.5 | 656 | 0.77 | |||||||||||||||
Camden Towne Village | 188 | 1983 | 735 | 92.0 | 679 | 0.92 | |||||||||||||||
Camden Trails | 264 | 1984 | 733 | 88.8 | 637 | 0.87 | |||||||||||||||
Camden Valley Creek | 380 | 1984 | 855 | 94.6 | 718 | 0.84 | |||||||||||||||
Camden Valley Park | 516 | 1986 | 743 | 89.8 | 727 | 0.98 | |||||||||||||||
Camden Valley Ridge | 408 | 1987 | 773 | 91.3 | 651 | 0.84 | |||||||||||||||
Camden Westview | 335 | 1983 | 697 | 92.0 | 668 | 0.96 | |||||||||||||||
Houston | |||||||||||||||||||||
Camden Baytown | 272 | 1999 | 844 | 93.2 | 738 | 0.87 | |||||||||||||||
Camden Creek | 456 | 1984 | 639 | 91.4 | 642 | 1.01 | |||||||||||||||
Camden Crossing | 366 | 1982 | 762 | 92.1 | 633 | 0.83 | |||||||||||||||
Camden Greenway | 756 | 1999 | 861 | 91.2 | 1,016 | 1.18 | |||||||||||||||
Camden Holly Springs | 548 | 1999 | 934 | 89.7 | 949 | 1.02 | |||||||||||||||
Camden Midtown | 337 | 1999 | 843 | 93.4 | 1,083 | 1.28 | |||||||||||||||
Camden Oak Crest (2) | 364 | 2003 | 870 | In Lease-Up | 938 | 1.08 | |||||||||||||||
Camden Park | 288 | 1995 | 866 | 90.5 | 864 | 1.00 | |||||||||||||||
Camden Steeplechase | 290 | 1982 | 748 | 93.9 | 649 | 0.87 | |||||||||||||||
Camden Stonebridge | 204 | 1993 | 845 | 91.6 | 843 | 1.00 | |||||||||||||||
Camden Sugar Grove | 380 | 1997 | 917 | 88.2 | 878 | 0.96 | |||||||||||||||
Camden Vanderbilt | 894 | 1996/1997 | 863 | 92.8 | 1,074 | 1.25 | |||||||||||||||
Camden West Oaks | 671 | 1982 | 726 | 93.6 | 610 | 0.84 | |||||||||||||||
Camden Wilshire | 536 | 1982 | 761 | 94.6 | 615 | 0.81 | |||||||||||||||
Camden Wyndham | 448 | 1978/1981 | 797 | 93.7 | 591 | 0.74 | |||||||||||||||
Total | 51,344 | 850 | 92.9 | % | $ | 812 | $ | 0.95 | |||||||||||||
(1) | Represents average physical occupancy for the year, except as noted below. |
(2) | Properties under lease-up at December 31, 2003. |
(3) | Development property - average occupancy calculated from date at which occupancy exceeded 90% through year-end. |
(4) | Property owned through a joint venture in which we own a 50% interest. The remaining interest is owned by an unaffiliated private investor. |
(5) | Properties owned through a joint venture in which we own a 20% interest. The remaining interest is owned by an unaffiliated private pension fund. |
(6) | Miramar is a student housing project for Texas A&M at Corpus Christi. Average occupancy includes summer which is normally subject to high vacancies. |
9 |
Plan Category | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted-average exercise price of outstanding options, warrants and rights | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity compensation plans approved by security holders | 3,672,267 | $ | 31.38 | 4,490,250 | ||||||||||||||||||||||
Equity compensation plans not | ||||||||||||||||||||||||||
approved by security holders | -- | -- | -- | |||||||||||||||||||||||
Total | 3,672,267 | $ | 31.38 | 4,490.250 | ||||||||||||||||||||||
(a) | (1) Financial Statements: |
Our financial statements and supplementary financial information for the years ended December 31, 2003, 2002 and 2001 are listed in the accompanying Index to Consolidated Financial Statements and Supplementary Data at F-1 and are incorporated herein by reference from pages 19 through 42 of our Annual Report to the Shareholders for the year ended December 31, 2003, which pages are filed as Exhibit 13.1. |
(2) Financial Statement Schedule: |
The financial statement schedule listed in the accompanying Index to Consolidated Financial Statements and Supplementary Data at page F-1 is filed as part of this Report. |
12
(3) Index to Exhibits: |
Number Title
2.1 | Agreement and Plan of Merger, dated December 16, 1997, among Camden Property Trust, Camden Subsidiary II, Inc. and Oasis Residential, Inc. Incorporated by reference from Exhibit 2.1 to Camden Property Trust's Form 8-K filed December 17, 1997 (File No. 1-12110). |
2.2 | Amendment No. 1, dated February 4, 1998, to the Agreement and Plan of Merger, dated December 16, 1997, among Camden Property Trust, Camden Subsidiary II, Inc. and Oasis Residential, Inc. Incorporated by reference from Exhibit 2.1 to Camden Property Trust's Form 8-K filed February 5, 1998 (File No. 1-12110). |
2.3 | Contribution Agreement, dated June 26, 1998, by and between Camden Subsidiary, Inc. and Sierra-Nevada Multifamily Investments, LLC. Incorporated by reference from Exhibit 2.1 to Camden Property Trust's Form 8-K filed July 15, 1998 (File No. 1-12110). |
2.4 | Agreement of Purchase and Sale, dated June 26, 1998, by and between Camden Subsidiary, Inc. and Sierra-Nevada Multifamily Investments, LLC. Incorporated by reference from Exhibit 2.2 to Camden Property Trust's Form 8-K filed July 15, 1998 (File No. 1-12110). |
2.5 | Agreement of Purchase and Sale, dated June 26, 1998, by and between NQRS, Inc. and Sierra-Nevada Multifamily Investments, LLC. Incorporated by reference from Exhibit 2.3 to Camden Property Trust's Form 8-K filed July 15, 1998 (Filed No. 1-12110). |
3.1 | Amended and Restated Declaration of Trust of Camden Property Trust. Incorporated by reference from Exhibit 3.1 to Camden Property Trust’s Form 10-K for the year ended December 31, 1993 (File No. 1-12110). |
3.2 | Amendment to the Amended and Restated Declaration of Trust of Camden Property Trust. Incorporated by reference from Exhibit 3.1 to Camden Property Trust's Form 10-Q filed August 14, 1997 (File No. 1-12110). |
3.3 | Second Amended and Restated Bylaws of Camden Property Trust. Incorporated by reference from Exhibit 3.3 to Camden Property Trust's Form 10-K for the year ended December 31, 1997 (File No. 1-12110). |
4.1 | Specimen certificate for Common Shares of Beneficial Interest. Incorporated by reference from Exhibit 4.1 to Camden Property Trust's Registration Statement on Form S-11 filed September 15, 1993 (File No. 33-68736). |
4.2 | Indenture dated as of April 1, 1994 by and between Camden Property Trust and The First National Bank of Boston, as Trustee. Incorporated by reference from Exhibit 4.3 to Camden Property Trust’s Registration Statement on Form S-11 filed April 12, 1994 (File No. 33-76244). |
4.3 | Indenture dated as of February 15, 1996 between Camden Property Trust and the U.S. Trust Company of Texas, N.A., as Trustee. Incorporated by reference from Exhibit 4.1 to Camden Property Trust's Form 8-K filed February 15, 1996 (File No. 1-12110). |
4.4 | First Supplemental Indenture dated as of February 15, 1996 between Camden Property Trust and U.S. Trust Company of Texas N.A., as trustee. Incorporated by reference from Exhibit 4.2 to Camden Property Trust's Form 8-K filed February 15, 1996 (File No. 1-12110). |
4.5 | Form of Camden Property Trust 7% Note due 2006. Incorporated by reference from Exhibit 4.3 to Camden Property Trust's Form 8-K filed December 2, 1996 (File No. 1-12110). |
4.6 | Form of Indenture for Senior Debt Securities dated as of February 11, 2003 between Camden Property Trust and SunTrust Bank, as trustee. Incorporated by reference from Exhibit 4.1 to Camden Property Trust’s Registration Statement on Form S-3 filed February 12, 2003 (File No. 333-103119). |
13
4.7 | Registration Rights Agreement, dated as of February 23, 1999, between Camden Property Trust and the unitholders named therein. Incorporated by reference from Exhibit 99.3 to Camden Property Trust’s Form 8-K filed on March 10, 1999 (File No. 1-12110). |
4.8* | Form of Amendment to Registration Rights Agreement, dated as of December 1, 2003, between Camden Property Trust and the unitholders named therein. |
4.9 | Form of Statement of Designation of Series B Cumulative Redeemable Preferred Shares of Beneficial Interest. Incorporated by reference from Exhibit 4.1 to Camden Property Trust’s Form 8-K filed on March 10, 1999 (File No. 1-12110). |
4.10* | Form of Amendment to Statement of Designation of Series B Cumulative Redeemable Preferred Shares of Beneficial Interest, effective as of December 31, 2003. |
4.11 | Form of Statement of Designation of Series C Cumulative Redeemable Perpetual Preferred Shares of Beneficial Interest of Camden Property Trust. Incorporated by reference from Exhibit 4.11 to Camden Property Trust’s Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
4.12 | Form of First Amendment to Statement of Designation of Series C Cumulative Redeemable Perpetual Preferred Shares of Beneficial Interest of Camden Property Trust. Incorporated by reference from Exhibit 4.12 to Camden Property Trust’s Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
4.13 | Form of Second Amendment to Statement of Designation of Series C Cumulative Redeemable Perpetual Preferred Shares of Beneficial Interest of Camden Property Trust. Incorporated by reference from Exhibit 4.13 to Camden Property Trust’s Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
4.14 | Form of Camden Property Trust 7% Note due 2004. Incorporated by reference from Exhibit 4.3 to Camden Property Trust’s Form 8-K filed April 20, 1999 (File No. 1-12110). |
4.15 | Form of Camden Property Trust 7% Note due 2006. Incorporated by reference from Exhibit 4.3 to Camden Property Trust’s Form 8-K filed February 20, 2001 (File No. 1-12110). |
4.16 | Form of Camden Property Trust 7.625% Note due 2011. Incorporated by reference from Exhibit 4.4 to Camden Property Trust’s Form 8-K filed February 20, 2001 (File No. 1-12110). |
4.17 | Form of Camden Property Trust’s 6.75% Note due 2010. Incorporated by reference from Exhibit 4.3 to Camden Property Trust’s Form 8-K filed September 17, 2001 (Filed No. 1-12110). |
4.18 | Form of Camden Property Trust 5.875% Note due 2007. Incorporated by reference from Exhibit 4.3 to Camden Property Trust’s Form 8-K filed June 4, 2002 (File No. 1-12110). |
4.19 | Form of Camden Property Trust 5.875% Note due 2012. Incorporated by reference from Exhibit 4.3 to Camden Property Trust's Form 8-K filed November 25, 2002 (File No. 1- 12110). |
4.20 | Form of Camden Property Trust 5.375% Note due 2013. Incorporated by reference from Exhibit 4.2 to Camden Property Trust's Form 8-K filed December 9, 2003 (File No. 1-12110). |
10.1 | Form of Indemnification Agreement by and between Camden Property Trust and certain of its trust managers and executive officers. Incorporated by reference from Exhibit 10.18 to Amendment No. 1 of Camden Property Trust's Registration Statement on Form S-11 filed July 9, 1993 (File No. 33-63588). |
10.2 | Second Amended and Restated Employment Agreement dated July 11, 2003 by and between Camden Property Trust and Richard J. Campo. Incorporated by reference from Exhibit 10.1 to Camden Property Trust's Form 10-Q filed August 12, 2003 (File No. 1-12110). |
14
10.3 | Second Amended and Restated Employment Agreement dated July 11, 2003 by and between Camden Property Trust and D. Keith Oden. Incorporated by reference from Exhibit 10.2 to Camden Property Trust's Form 10-Q filed August 12, 2003 (File No. 1-12110). |
10.4 | Form of Employment Agreement by and between Camden Property Trust and certain senior executive officers. Incorporated by reference from Exhibit 10.13 to Camden Property Trust’s Form 10-K filed March 28, 1997 (File No. 1-12110). |
10.5 | Camden Property Trust Key Employee Share Option Plan. Incorporated by reference from Exhibit 10.14 to Camden Property Trust's Form 10-K filed March 28, 1997 (File No. 1-12110). |
10.6 | Distribution Agreement dated March 20, 1997 among Camden Property Trust and the Agents listed therein relating to the issuance of Medium Term Notes. Incorporated by reference from Exhibit 1.1 to Camden Property Trust’s Form 8-K filed March 21, 1997 (File No. 1-12110). |
10.7* | Form of Amended and Restated Master Exchange Agreement between Camden Property Trust and certain key employees. |
10.8* | Form of Amended and Restated Master Exchange Agreement between Camden Property Trust and certain trust managers. |
10.9* | Form of Master Exchange Agreement between Camden Property Trust and certain key employees. |
10.10* | Form of Master Exchange Agreement between Camden Property Trust and certain trust managers. |
10.11 | Form of Credit Agreement dated August 15, 2002 between Camden Property Trust and Bank of America, N.A. Incorporated by reference from Exhibit 99.1 to Camden Property Trust’s Form 8-K filed August 21, 2002 (File No. 1-12110). |
10.12 | Form of Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P. Incorporated by reference from Exhibit 10.1 to Camden Property Trust’s Form S-4 filed on February 26, 1997 (File No. 333-22411). |
10.13 | Amended and Restated Limited Liability Company Agreement of Sierra-Nevada Multifamily Investments, LLC, adopted as of June 29, 1998 by Camden Subsidiary, Inc. and TMT-Nevada, L.L.C. Incorporated by reference from Exhibit 99.1 to Camden Property Trust’s Form 8-K filed July 15, 1998 (File No. 1-12110). |
10.14 | Amended and Restated Limited Liability Company Agreement of Oasis Martinique, LLC, dated as of October 23, 1998, by and among Oasis Residential, Inc. and the persons named therein. Incorporated by reference from Exhibit 10.59 to Oasis Residential, Inc.‘s Annual Report on Form 10-K for the year ended December 31, 1997 (File No. 1-12428). |
10.15 | Exchange Agreement, dated as of October 23, 1998, by and among Oasis Residential, Inc., Oasis Martinique, LLC and the holders listed thereon. Incorporated by reference from Exhibit 10.60 to Oasis Residential, Inc.‘s Annual Report on Form 10-K for the year ended December 31, 1997 (File No. 1-12428). |
10.16 | Contribution Agreement, dated as of February 23, 1999, by and among Belcrest Realty Corporation, Belair Real Estate Corporation, Camden Operating, L.P. and Camden Property Trust. Incorporated by reference from Exhibit 99.1 to Camden Property Trust’s Form 8-K filed on March 10, 1999 (File No. 1-12110). |
10.17 | First Amendment to Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P., dated as of February 23, 1999. Incorporated by reference from Exhibit 99.2 to Camden Property Trust’s Form 8-K filed on March 10, 1999 (File No. 1-12110). |
15
10.18 | Form of Second Amendment to Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P., dated as of August 13, 1999. Incorporated by reference from Exhibit 10.15 to Camden Property Trust's Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
10.19* | Form of Amendment to Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P., dated as of December 1, 2003. |
10.20 | Form of Third Amendment to Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P., dated as of September 7, 1999. Incorporated by reference from Exhibit 10.16 to Camden Property Trust's Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
10.21 | Form of Fourth Amendment to Third Amended and Restated Agreement of Limited Partnership of Camden Operating, L.P., dated as of January 7, 2000. Incorporated by reference from Exhibit 10.17 to Camden Property Trust's Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
10.22 | Amended and Restated 1993 Share Incentive Plan of Camden Property Trust. Incorporated by reference from Exhibit 10.18 to Camden Property Trust's Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
10.23 | Camden Property Trust 1999 Employee Share Purchase Plan. Incorporated by reference from Exhibit 10.19 to Camden Property Trust's Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
10.24 | Form of Senior Executive Loan Guaranty between Camden Operating L.P., Camden USA, Inc. and Bank One, NA. Incorporated by reference from Exhibit 10.20 to Camden Property Trust's Form 10-K for the year ended December 31, 1999 (File No. 1-12110). |
10.25 | Amended and Restated 2002 Share Incentive Plan of Camden Property Trust. Incorporated by reference from Exhibit 10.1 to Camden Property Trust's Form 10-Q filed May 3, 2002 (File No. 1-12110). |
10.26 | Camden Property Trust Short Term Incentive Plan. Incorporated by reference from Exhibit 10.2 to Camden Property Trust's Form 10-Q filed May 3, 2002 (File No. 1-12110). |
12.1* | Statement re Computation of Ratios |
13.1* | Selected pages of the Camden Property Trust Annual Report to Shareholders for the year ended December 31, 2003. |
14.1* | Form of Code of Ethical Conduct for Senior Financial Officers of Camden Property Trust. |
21.1* | Subsidiaries of Camden Property Trust. |
23.1* | Consent of Deloitte & Touche LLP. |
24.1* | Powers of Attorney for Richard J. Campo, D. Keith Oden, Dennis M. Steen, William R. Cooper, George A. Hrdlicka, Scott S. Ingraham, Lewis A. Levey, F. Gardner Parker and Steven A. Webster. |
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31.1* | Certification pursuant to Rule 13a-14(a) of Chief Executive Officer dated March 12, 2004. |
31.2* | Certification pursuant to Rule 13a-14(a) of Chief Financial Officer dated March 12, 2004. |
32.1* | Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002. |
_____________________
*Filed herewith.
(b) | Reports on Form 8-K |
Current Report on Form 8-K, dated November 6, 2003 was filed with the Commission on November 7, 2003, contained information under Item 7 (Financial Statements, Pro Forma Financial Information and Exhibits) and Item 12 (Results of Operations and Financial Condition). |
Current Report on Form 8-K, dated December 4, 2003 was filed with the Commission on December 9, 2003 contained information under Item 5 (Other Events) and Item 7 (Financial Statements, Pro Forma Financial Information and Exhibits). |
17
SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, Camden Property Trust has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. |
March 12, 2004 | CAMDEN PROPERTY TRUST |
By: /s/ Dennis M. Steen Dennis M. Steen Chief Financial Officer, Sr. Vice President -Finance and Secretary | |
Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of Camden Property Trust and in the capacities and on the dates indicated. |
Name | Title | Date | |||
---|---|---|---|---|---|
* | Chairman of the Board of Trust | March 12, 2004 | |||
Richard J. Campo | Managers and Chief Executive Officer | ||||
(Principal Executive Officer) | |||||
* | President, Chief Operating Officer and | March 12, 2004 | |||
D. Keith Oden | Trust Manager | ||||
/s/Dennis M. Steen | Chief Financial Officer, Senior Vice | March 12, 2004 | |||
Dennis M. Steen | President-Finance and Secretary | ||||
(Principal Financial Officer) | |||||
* | Trust Manager | March 12, 2004 | |||
William R. Cooper | |||||
* | Trust Manager | March 12, 2004 | |||
George A. Hrdlicka | |||||
* | Trust Manager | March 12, 2004 | |||
Scott S. Ingraham | |||||
* | Trust Manager | March 12, 2004 | |||
Lewis A. Levey | |||||
* | Trust Manager | March 12, 2004 | |||
F. Gardner Parker | |||||
* | Trust Manager | March 12, 2004 | |||
Steven A. Webster |
*By: /s/Dennis M. Steen | |
Dennis M. Steen Attorney-in-Fact |
CAMDEN PROPERTY TRUST
Page | ||
Independent Auditors' Report (included herein) | F-2 | |
Financial Statements (incorporated by reference under Item 8 of Part II from pages 19 through 42 of our Annual Report to Shareholders for the year ended December 31, 2003): | ||
Independent Auditors’ Report Consolidated Balance Sheets as of December 31, 2003 and 2002 Consolidated Statements of Operations for the Years Ended December 31, 2003, 2002 and 2001 Consolidated Statements of Shareholders’ Equity for the Years Ended December 31, 2003, 2002 and 2001 Consolidated Statements of Cash Flows for the Years Ended December 31, 2003, 2002 and 2001 Notes to Consolidated Financial Statements |
The following financial statement supplementary data of Camden Property Trust and its subsidiaries required to be included in Item 15(a)(2) is listed below: |
Schedule III -- Real Estate and Accumulated Depreciation | S-1 |
CAMDEN PROPERTY TRUST
REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2003
(In thousands)
Description | Encumbrances | Initial Cost to Camden Property Trust | Cost Capitalized Subsequent To Acquisition Or Development | Gross Amount at Which Carried at December 31, 2003 (a) | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Property Name | Location | Land | Building and Improvements | Land | Building and Improvements | Total | ||||||||||||||||||||
Apartments | TX | $ | 27,045 | $ | 128,402 | $ | 659,574 | $ | 76,715 | $ | 128,402 | $ | 736,289 | $ | 864,691 | |||||||||||
Apartments | AZ | -- | 27,465 | 172,703 | 10,791 | 27,465 | 183,494 | 210,959 | ||||||||||||||||||
Apartments | CA | 47,101 | 79,820 | 316,985 | 10,250 | 79,820 | 327,235 | 407,055 | ||||||||||||||||||
Apartments | CO | 30,742 | 21,907 | 164,470 | 7,456 | 21,907 | 171,926 | 193,833 | ||||||||||||||||||
Apartments | FL | 14,277 | 59,032 | 411,294 | 36,554 | 59,032 | 447,848 | 506,880 | ||||||||||||||||||
Apartments | KY | 17,100 | 5,107 | 66,993 | 5,975 | 5,107 | 72,968 | 78,075 | ||||||||||||||||||
Apartments | MO | 43,552 | 18,148 | 120,848 | 16,513 | 18,148 | 137,361 | 155,509 | ||||||||||||||||||
Apartments | NV | 39,171 | 48,767 | 314,111 | 19,360 | 48,767 | 333,471 | 382,238 | ||||||||||||||||||
Apartments | NC | 12,810 | 11,842 | 75,099 | 13,523 | 11,842 | 88,622 | 100,464 | ||||||||||||||||||
Properties under Development | CA | -- | 37,718 | 71,304 | -- | 37,718 | 71,304 | 109,022 | ||||||||||||||||||
Properties under Development | FL | -- | 3,331 | 3,804 | -- | 3,331 | 3,804 | 7,135 | ||||||||||||||||||
Properties under Development | TX | -- | 48,068 | 24,894 | -- | 48,068 | 24,894 | 72,962 | ||||||||||||||||||
Total | $ | 231,798 | $ | 489,607 | $ | 2,402,079 | $ | 197,137 | $ | 489,607 | $ | 2,599,216 | $ | 3,088,823 | ||||||||||||
Description | Accumulated Depreciation(a) | Date Constructed Or Acquired | Depreciable Life (Years) | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Property Name | Location | |||||||||||||
Apartments | TX | $ | 215,659 | 1993-2003 | 3 - 35 | |||||||||
Apartments | AZ | 43,833 | 1994-2002 | 3 - 35 | ||||||||||
Apartments | CA | 26,967 | 1998-2003 | 3 - 35 | ||||||||||
Apartments | CO | 30,954 | 1998-2000 | 3 - 35 | ||||||||||
Apartments | FL | 99,272 | 1997-2003 | 3 - 35 | ||||||||||
Apartments | KY | 19,654 | 1997-2000 | 3 - 35 | ||||||||||
Apartments | MO | 51,543 | 1997 | 3 - 35 | ||||||||||
Apartments | NV | 72,043 | 1998-1999 | 3 - 35 | ||||||||||
Apartments | NC | 41,763 | 1997 | 3 - 35 | ||||||||||
Properties under Development | CA | -- | 1998-2003 | 3 - 35 | ||||||||||
Properties under Development | FL | -- | 1998-2003 | 3 - 35 | ||||||||||
Properties under Development | TX | -- | 1998-2003 | 3 - 35 | ||||||||||
Total | $ | 601,688 | ||||||||||||
(a) The aggregate cost for federal income tax purposes at December 31, 2003 was $3.0 billion.
The changes in total real estate assets, excluding investments in joint ventures and third party development properties, for the years ended December 31, 2003, 2002 and 2001 are as follows:
2003 | 2002 | 2001 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Balance, beginning of year | $ | 3,020,584 | $ | 2,736,474 | $ | 2,623,729 | |||||
Additions during year: | |||||||||||
Acquisitions | -- | 245,836 | 20,634 | ||||||||
Development | 79,970 | 128,312 | 76,562 | ||||||||
Improvements | 22,287 | 33,733 | 26,655 | ||||||||
Deductions during year: | |||||||||||
Cost of real estate sold | (34,018 | ) | (123,771 | ) | (11,106 | ) | |||||
Balance, end of year | $ | 3,088,823 | $ | 3,020,584 | $ | 2,736,474 | |||||
The changes in accumulated depreciation for the years ended December 31, 2003, 2002 and 2001 are as follows:
2003 | 2003 | 2001 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Balance, beginning of year | $ | 498,776 | $ | 422,154 | $ | 326,723 | |||||
Depreciation | 103,354 | 100,991 | 98,400 | ||||||||
Real estate sold | (442 | ) | (24,369 | ) | (2,969 | ) | |||||
Balance, end of year | $ | 601,688 | $ | 498,776 | $ | 422,154 | |||||
S-1 |