Camden Property Trust has acquired a portfolio of eight apartment communities for about $261 million, GlobeSt reports. The REIT purchased the asset via its discretionary investment funds, in which it owns a 20% interest.
The fund has three additional apartment communities under its agreement for about $59 million. The eight communities include Camden Brushy Creek, Austin, Camden Cypress Creek, Houston, Camden Panther Creek, Dallas, and Camden Westover Hills, 288 units, San Antonio. The communities have an average occupancy of 95%.
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