During the fourth quarter, Camden acquired three communities with 839 apartment homes for a total of $145.0 million: Camden Montierra, a 249-home apartment community in Scottsdale, AZ; Camden San Marcos, a 320-home apartment community in Scottsdale, AZ; and Camden Belleview Station, a 270-home apartment community in Denver, CO. The Company also purchased the remaining 50% ownership interest in an unconsolidated joint venture for approximately $15.9 million and assumed approximately $26.2 million in mortgage debt. The Company now owns 100% of Camden Denver West, a 320-home apartment community located in Denver, CO.
In addition, Camden acquired 2.4 acres of land in Plantation, FL and 3.5 acres of land in Charlotte, NC during the fourth quarter for future development of two multifamily communities.
Camden was founded in 1982 by two individuals
who believed that by creating a company based on a set of core
values they could create long-term value for their customers.
Originally focused on high-rise condominiums, the first apartment
community was purchased in 1987 in Houston, Texas. In July 1993,
the founding partners, Ric Campo and Keith Oden, took the company
public and proceeded to expand the organization through three
strategic mergers and the development of more than $1.7 billion
in Camden flagship communities.
Since Camden's initial public offering
in 1993, it has grown from 310 employees and 6,000 apartments
in Texas to nearly 2,000 employees and almost 70,000 apartments
Camden offers two Preferred Provider Organization
(PPO) plan options to full-time employees. The High and Low PPO
plans provide a higher benefit level when using a network physician,
hospital, and/or provider. When services are received in-network,
physician office visits are covered at 100% after a $20 co-pay.
Other services received in network are covered at 80% under the
High PPO and 70% under the Low PPO for usual, customary and reasonable
charges. Camden's PPO plans cover wellness exams such as physicals
and well baby care up to a yearly maximum, vision benefits, and
also offers a prescription drug benefit. While the majority of
the costs for medical coverage is paid for by Camden, participating
employees are responsible for a portion of the cost through payroll
24 HOUR DIRECT LINK TO HEALTH CARE INFORMATION
Offers you and your family free access
to a registered nurse, healthcare information and counseling
24 hours a day, 7 days a week.
Camden offers full-time employees a dental
benefit plan that covers 100% of preventative care (i.e. cleanings,
x-rays), 80% for basic treatment, 50% for major treatment and
orthodontic care for children. The dental plan also offers the
flexibility of choosing your own dentist or choosing a dentist
in the PPO network. There is a portion of the cost associated
with the plan that participating employees are responsible for
through payroll deduction.
FLEXIBLE SPENDING ACCOUNTS
Camden offers full-time employees the opportunity
to deposit pre-tax money into accounts for your health care and
dependent care expenses. This allows you to reduce your taxable
income while you reimburse yourself for eligible expenses not
covered by the Medical, Vision and Dental Plans as well as expenses
for child care, incapacitated spouse and elderly parent care.
LIFE AND ACCIDENTAL DEATH AND DISMEMBERMENT
The life and accident insurance plans help
protect you and your survivors from financial hardship in the
event of your death or accidental injury. Camden provides full-time
employees a benefit of two times your annual salary for basic
life and accidental death & dismemberment (AD&D) coverage.
OPTIONAL LIFE AND ACCIDENTAL DEATH AND
Camden offers full-time employees an option
to purchase additional life and accidental death and dismemberment
insurance at reduced rates.
SHORT TERM DISABILITY (STD) and GROUP
LONG TERM DISABILITY (LTD)
Camden offers Short Term Disability benefits
(STD) to full-time employees who are enrolled in the medical
insurance plan and have been with the company for at least one
year. STD pays 60% of your base pay for the time you are disabled
up to a maximum of 11 weeks.
Camden's Long Term Disability Plan (LTD)
provides monthly benefits when a full-time employee is disabled
and prevented from working as a result of a covered accident
or sickness. This program provides a monthly payment of 60% of
base salary up to a maximum dollar amount per month after a 90
day elimination period.
PAID TIME OFF - VACATION, HOLIDAY, &
Camden grants vacation time to full-time
regular employees. The amount of vacation you are entitled to
is determined by your length of active service with the company.
Forty (40) hours of vacation time is granted after 6 months of
employment at which time your vacation hours begin accruing each
In addition to vacation time, Camden offers
full-time employees 9 paid holidays during the year. The holiday
schedule is published on an annual basis.
Camden also recognizes the inability to
work due to personal or family illness. For this reason, the
company provides paid sick time for full-time employees. After
completing 90 days of employment an employee will receive sick
time based on a schedule. Each January thereafter, an employee
will receive 40 hours of sick time. Any unused sick time will
be transferred into a Disability Bank.
Camden offers an adoption reimbursement
benefit of up to $5,000 per child. The life time maximum benefit
is $15,000. Most expenses directly related to the adoption are
reimbursable. Camden also provides eligible employees up to 3
weeks of paid leave at 60% of base pay. If an employee and his/her
spouse both work at Camden, only one employee can utilize the
benefit. Adopted children must be under the age of 18.
401(k) RETIREMENT SAVINGS PLAN
Camden offers all employees a 401(k) Retirement
Savings Plan that allows you to watch your financial security
grow each year with the company's matching contributions. The
plan is designed to help you save for your retirement and, at
the same time, reduce your current taxes. All employees with
at least 6 months of employment are eligible to participate in
the Plan. Once you have satisfied this requirement you are eligible
to enroll by January 1st, April 1st, July 1st, or October 1st
of each year. Through automatic payroll deduction, you may make
employee deferral contributions between 1% and 60% of your pre-tax
earnings. Your contributions are subject to annual dollar limits
set by the IRS. You may change your deferral percentage at the
beginning of each payroll period.
. 100% of the first 2% of your compensation contributed to the
. 50% of the next 5% of your compensation contributed to the
. up to a maximum of $3,000 per plan year
The plan allows you to receive vesting
credits for the number of years you have worked for the company
up to 3 years, at which point you are fully vested.
EMPLOYEE STOCK PURCHASE PLAN (ESPP)
Camden Property Trust, a publicly traded
company on the New York Stock Exchange (NYSE:CPT), allows all
employees to buy shares of Camden stock at a discount after one
year of employment. By participating in the Employee Stock Purchase
Plan, you can buy Camden stock at a 15% discount through payroll
deduction or a lump sum payment. You are limited to $25,000 in
value per calendar year, and must hold the shares for at least
9 months to get the benefit of the discount. This program is
designed to assist employees in buying company stock at a favorable
EMPLOYEE APARTMENT DISCOUNT
As an added benefit and incentive for you
to live in a company-owned apartment community, Camden offers
full-time employees a 20% rent discount and part-time employees
a 10% rent discount.
CAMDEN UNIVERSITY AND EDUCATION ASSISTANCE
Camden employees enjoy numerous opportunities
for continued education and on-the-job training. Camden University,
a unique program offered through Camden's Human Resources and
Educational Services Department, provides employees the opportunity
for salary increases after attending a specified number of courses
in job related areas. In addition, partial tuition reimbursement
of approved courses is provided for full-time employees who have
been with the company at least six months and wish to continue
their education at approved institutions.
EMPLOYEE ASSISTANCE PROGRAM
Camden's Employee Assistance Program (EAP)
will put you in touch with quality, professional counseling services
and important information for family relationship conflict, emotional
stress, alcohol/drug abuse, financial counseling and work problems.
The EAP is free and confidential for all employees.
EMPLOYEE REFERRAL PROGRAM
To encourage and reward employee's for
referrals for available positions, Camden will pay a referral
bonus to an employee who refers an applicant and that applicant
CORPORATE APARTMENT PROGRAM
Camden is pleased to offer the use of corporate
apartments to their employees as a benefit. The fully furnished
apartment homes are located throughout the portfolio at a number
of different properties. There is a nominal fee per night and
the maximum allowable stay is seven nights.
CAMDEN PROPERTY TRUST SCHOLARSHIP FUND
The Camden Property Trust Scholarship Fund
helps children of Camden employees attend the college or university
of their choice. These scholarship awards ease the financial
burden of college and increase employees' ability to assist their
children in preparing for successful careers.
Updated May 25, 2013