Camden Property Trust Completes Sale of 15 Acres in Houston

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Camden Property Trust Completes Sale of 15 Acres in Houston
    HOUSTON, Jan. 31 /PRNewswire/ -- Camden Property Trust (NYSE: CPT)
announced today the sale of approximately 15 acres of land in west Houston to
Trademark, a Fort Worth-based retail developer.  The land, located on
Westheimer Boulevard between Kirkwood Drive and Royal Oaks Boulevard, is part
of the former Andrau Airpark, which was acquired by Camden in late 1998.
Camden originally purchased the entire 700-acre Andrau site, and
simultaneously sold 500 acres to Sunrise Colony Company for development of the
Royal Oaks Country Club.  The Royal Oaks development is a gated residential
community of approximately 900 to 1,000 luxury homes, that also features an
18-hole championship golf course designed by Fred Couples.  In March 2000,
Camden sold an additional 38 acres to Lowe's Home Centers, Inc. for
development of a Lowe's Home Improvement Store and a Wal-Mart Supercenter.
    The 15-acre site purchased by Trademark will feature a 143,000 square foot
shopping center anchored by an HEB grocery store.  "A high-quality retail
center has always been a key part of our mixed-use vision for the Andrau
property," said Bill Sengelmann, Vice President of Development for Camden.
"Our plan has been to integrate the residential and retail components in such
a way that enhances the quality of life for our residents."  Current plans
call for Camden to retain approximately 70 acres of the Andrau site for
development of up to 1,800 multifamily apartment homes.  The remaining acreage
will be marketed for additional retail and/or commercial use.
    "We are pleased with the progress that has been made on the mixed-use
development of the Andrau site," said Richard Campo, Chairman and Chief
Executive Officer of Camden Property Trust.  "Our strategy of buying a large
site at a wholesale price and selling the excess land for other uses has been
successful.  We are working on additional land sales for 2001, and ultimately
we expect to hold several well-positioned sites for future multifamily
development with virtually no remaining land investment."
    Camden Property Trust is a real estate company engaged in the ownership,
development, acquisition, management and disposition of multifamily apartment
communities.  Camden owns interests in and operates 145 properties containing
51,336 apartment homes in the Sunbelt and Midwestern markets from Florida to
California.  Upon completion of three properties under development, the
Company's portfolio will increase to 52,874 apartment homes in 148 properties.
    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.
    For more information, please contact Camden's Investor Relations
Department at 1-800-9Camden, or 713/354-2787, or access Camden's web site at
http://www.camdenprop.com.
SOURCE Camden Property Trust
http://www.camdenprop.com
CONTACT:
Investor Relations of Camden Property Trust,
713-354-2787, or 800-9Camden