a6498433ex992.htm

EXHIBIT 99.2

	THIRD QUARTER 2010

	Supplemental Operating and Financial Data

Camden Ivy Hall - Atlanta, GA
Acquired July 27, 2010 - 110 Units
Under Construction and in Lease-Up




Camden Property Trust
Three Greenway Plaza, Suite 1300
Houston, Texas 77046
Phone: 713-354-2500 Fax: 713-354-2700
www.camdenliving.com

CAMDEN	TABLE OF CONTENTS

		Page
Press Release Text		3
Financial Highlights		6
Operating Results		7
Funds from Operations		8
Balance Sheets		9
Portfolio Statistics		10
Components of Property Net Operating Income		11
"Same Property" Third Quarter Comparisons		12
"Same Property" Sequential Quarter Comparisons		13
"Same Property" Year to Date Comparisons		14
"Same Property" Operating Expense Detail & Comparisons		15
Joint Venture Operations		16
Current Development Communities		17
Joint Venture Development Communities		18
Development Pipeline & Land		19
Notes Receivable Summary		20
Acquisitions and Dispositions		21
Debt Analysis		22
Debt Maturity Analysis		23
Debt Covenant Analysis		24
Unconsolidated Real Estate Investments Debt Analysis		25
Unconsolidated Real Estate Investments Debt Maturity Analysis		26
Capitalized Expenditures & Maintenance Expense		27
Non-GAAP Financial Measures - Definitions & Reconciliations		28
Other Data		30
Community Table		31




In addition to historical information, this document 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. Factors which may cause the Company’s actual results or performance to differ materially from those contemplated by forward-looking statements are described under the heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission (SEC). Forward-looking statements made in this document represent management’s opinions at the time of this publication, and the Company assumes no obligation to update or supplement these statements because of subsequent events.

CAMDEN PROPERTY TRUST ANNOUNCES

THIRD QUARTER 2010 OPERATING RESULTS

Houston, TEXAS (November 4, 2010) – Camden Property Trust (NYSE: CPT) today announced operating results for the three and nine months ended September 30, 2010.

Funds From Operations

FFO for the third quarter of 2010 totaled $0.65 per diluted share or $46.7 million, as compared to $0.70 per diluted share or $48.1 million for the same period in 2009. FFO for the nine months ended September 30, 2010 totaled $1.98 per diluted share or $140.4 million, as compared to $2.29 per diluted share or $146.3 million for the same period in 2009. FFO for the nine months ended September 30, 2009 included a $0.04 per diluted share impact from losses related to early retirement of debt.

Net Income Attributable to Common Shareholders (“EPS”)

The Company reported net income attributable to common shareholders (“EPS”) of $1.7 million or $0.02 per diluted share for the third quarter of 2010, as compared to $3.9 million or $0.06 per diluted share for the same period in 2009.

For the nine months ended September 30, 2010, net income attributable to common shareholders totaled $6.1 million or $0.09 per diluted share, as compared to $28.5 million or $0.46 per diluted share for the same period in 2009. EPS for the nine months ended September 30, 2009 included a $0.27 per diluted share impact from gain on sale of discontinued operations, and a $0.04 per diluted share impact from losses related to early retirement of debt.

A reconciliation of net income attributable to common shareholders to FFO is included in the financial tables accompanying this press release.

Same Property Results

For the 46,757 apartment homes included in consolidated same property results, third quarter 2010 same property NOI declined 0.6% compared to the third quarter of 2009, with revenues declining 0.9% and expenses declining 1.5%. On a sequential basis, third quarter 2010 same property NOI increased 0.4% compared to the second quarter of 2010, with revenues increasing 1.1% and expenses increasing 2.2% compared to the prior quarter. On a year-to-date basis, 2010 same property NOI declined 4.6%, with revenues declining 3.0% and expenses declining 0.5% compared to the same period in 2009. Same property physical occupancy levels for the portfolio averaged 94.3% during the third quarter of 2010, compared to 93.9% in the third quarter of 2009 and 94.2% in the second quarter of 2010.

The Company defines same property communities as communities owned and stabilized as of January 1, 2009, excluding properties held for sale and communities under major redevelopment. A reconciliation of net income attributable to common shareholders to net operating income and same property net operating income is included in the financial tables accompanying this press release.

Acquisition Activity

The Company completed two acquisitions during the quarter for approximately $41 million through its Multifamily Value Add Fund, in which it has a 20% interest: Camden Yorktown, a 306-home stabilized apartment community in Houston, TX; and Camden Ivy Hall, a 110-home development community in Atlanta, GA.

The ownership of Camden Main & Jamboree, one of the Company’s joint venture communities, was restructured during the quarter, resulting in Camden’s ownership interest increasing from 30.0% to 99.9%. The Company previously accounted for this joint venture under the equity method of accounting. Following the restructuring, Camden has consolidated this entity for financial reporting purposes. The Company did not record a gain or loss on the restructuring, as the net consideration approximated the fair market value of the net assets received.

Development Activity

During the third quarter, the Company commenced construction on two new development communities: Camden Lake Nona, a $61.0 million project in Orlando, FL; and Camden Summerfield II, a $32.0 million project in Landover, MD. Initial occupancy at these communities is scheduled for late 2011 and mid-2012 respectively, with construction completions expected in late 2012.

Camden also completed lease-up of one fully-consolidated joint venture community during the quarter: Camden Travis Street, a $30.9 million project that is currently 97% leased. The Company has three additional joint venture communities in lease-up: Belle Meade, a $37.6 million project that is currently 89% leased; Braeswood Place, a $50.2 million project that is currently 83% leased; and Camden Ivy Hall, a $17.5 million project that is currently 53% leased.

The Company has nine additional development communities which may begin construction in late 2010 through 2012.

Equity Issuance

During the third quarter, Camden issued 0.6 million common shares through its at-the-market (“ATM”) share offering program at an average price of $48.05 per share, for total net consideration of approximately $28.2 million. Subsequent to quarter-end, the Company issued 1.0 million common shares through its at-the-market (“ATM”) share offering program at an average price of $49.25 per share, for total net consideration of approximately $50.4 million. Year-to-date, Camden has issued approximately 4.0 million common shares through its ATM program at an average price of $47.52 per share, for total net consideration of approximately $185.0 million.

“We have continued to strengthen our balance sheet over the past several quarters and have reduced leverage by issuing equity through our ATM program,” said Richard Campo, Camden’s Chairman & Chief Executive Officer. “These proceeds will be used to help fund our new development projects in a leverage-neutral way.”

Earnings Guidance

Camden updated its earnings guidance for 2010 based on its view of the current and expected apartment market and general economic conditions. Full-year 2010 FFO is expected to be $2.64 to $2.68 per diluted share, and full-year 2010 EPS is expected to be $0.14 to $0.18 per diluted share. Fourth quarter 2010 earnings guidance is $0.66 to $0.70 per diluted share for FFO and $0.05 to $0.09 per diluted share for EPS. Guidance for EPS excludes potential future gains on the sale of properties. Camden intends to update its earnings guidance to the market on a quarterly basis.

The Company’s 2010 earnings guidance is based on projections of same property revenue declines between 1.75% and 2.25%, expense growth between 0.5% and 1.0%, and NOI declines between 3.5% and 4.5%. Additional information on the Company’s 2010 financial outlook and a reconciliation of expected net income attributable to common shareholders to expected FFO are included in the financial tables accompanying this press release.

Camden expects to issue earnings guidance for 2011 in conjunction with its fourth quarter 2010 earnings release on February 4, 2011.

Conference Call

The Company will hold a conference call on Friday, November 5, 2010 at 11:00 a.m. Central Time to review its third quarter 2010 results and discuss its outlook for future performance. To participate in the call, please dial (866) 843-0890 (Domestic) or (412) 317-9250 (International) by 10:50 a.m. Central Time and enter passcode: 3001742, or join the live webcast of the conference call by accessing the Investor Relations section of the Company’s website at camdenliving.com. Supplemental financial information is available in the Investor Relations section of the Company’s website under Earnings Releases or by calling Camden’s Investor Relations Department at (800) 922-6336.

Forward-Looking Statements

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. Factors which may cause the Company’s actual results or performance to differ materially from those contemplated by forward-looking statements are described under the heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission (SEC). Forward-looking statements made in today’s press release represent management’s current opinions, and the Company assumes no obligation to update or supplement these statements because of subsequent events.

About Camden

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. Camden owns interests in and operates 186 properties containing 63,964 apartment homes across the United States. Upon completion of three properties under development, the Company’s portfolio will increase to 64,681 apartment homes in 189 properties. Camden was recently named by FORTUNE® Magazine for the third consecutive year as one of the “100 Best Companies to Work For” in America, placing 10th on the list.

For additional information, please contact Camden’s Investor Relations Department at (800) 922-6336 or (713) 354-2787 or access our website at camdenliving.com.

CAMDEN				FINANCIAL HIGHLIGHTS
				(In thousands, except per share, property data amounts and ratios)

(Unaudited)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2010			2009			2010			2009
Total property revenues (a)		$156,276			$155,225			$460,777			$467,519

EBITDA		81,439			81,050			241,686			251,510

Net income attributable to common shareholders		1,650			3,937			6,069			28,486
Per share - basic		0.02			0.06			0.09			0.46
Per share - diluted		0.02			0.06			0.09			0.46

Income from continuing operations attributable to common shareholders		1,324			3,658			5,354			9,334
Per share - basic		0.02			0.06			0.08			0.15
Per share - diluted		0.02			0.06			0.08			0.15

Funds from operations		46,680			48,112			140,361			146,266
Per share - diluted		0.65			0.70			1.98			2.29

Dividends per share		0.45			0.45			1.35			1.60
Dividend payout ratio		69.2	%		64.3	%		68.2	%		69.9	%

Interest expensed (including discontinued operations)		31,781			31,117			95,078			97,364
Interest capitalized		1,347			2,670			3,967			7,579
Total interest incurred		33,128			33,787			99,045			104,943

Principal amortization		1,100			1,099			3,401			5,320
Preferred distributions		1,750			1,750			5,250			5,250

Interest expense coverage ratio		2.6	x		2.6	x		2.5	x		2.6	x
Total interest coverage ratio		2.5	x		2.4	x		2.4	x		2.4	x
Fixed charge expense coverage ratio		2.4	x		2.4	x		2.3	x		2.3	x
Total fixed charge coverage ratio		2.3	x		2.2	x		2.2	x		2.2	x
Unencumbered real estate assets (at cost) to unsecured debt ratio		2.7	x		2.5	x		2.7	x		2.5	x

Same property NOI increase (decrease) (b)		(0.6	%)		(7.0	%)		(4.6	%)		(6.2	%)
(# of apartment homes included)		46,757			42,670			46,757			42,670

Gross turnover of apartment homes (annualized)		79	%		81	%		66	%		72	%
Net turnover (excludes on-site transfers and transfers to other Camden communities)		68	%		70	%		56	%		59	%


							As of September 30,
							2010			2009
Total assets								$4,606,735			$4,734,097
Total debt								$2,542,212			$2,622,157
Common and common equivalent shares, outstanding end of period (c)								72,621			69,036
Share price, end of period								$47.97			$40.30
Preferred units, end of period								$97,925			$97,925
Book equity value, end of period (d)								$1,762,891			$1,812,596
Market equity value, end of period (d)								$3,583,629			$2,882,151





(a) Excludes discontinued operations.

(b) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2009, excluding properties held for sale and communities under major redevelopment.

(c) Includes at September 30, 2010: 70,047 common shares (including 433 common share equivalents related to share awards & options), plus common share equivalents upon the assumed conversion of minority interest units (2,574).

(d) Includes: common shares, preferred and common units, and common share equivalents.


Note: Please refer to pages 28 and 29 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN				OPERATING RESULTS
				(In thousands, except per share and property data amounts)

(Unaudited)	Three Months Ended							Nine Months Ended
	September 30,							September 30,
OPERATING DATA	2010				2009			2010			2009
Property revenues
Rental revenues		$133,601				$132,758			$395,258			$403,248
Other property revenues		22,675				22,467			65,519			64,271
Total property revenues		156,276				155,225			460,777			467,519

Property expenses
Property operating and maintenance		47,430				46,266			135,844			132,285
Real estate taxes		16,817				17,803			53,359			54,692
Total property expenses		64,247				64,069			189,203			186,977

Non-property income
Fee and asset management income		2,145				1,818			6,028			6,093
Interest and other income		451				582			3,988			2,414
Income on deferred compensation plans		6,918				8,194			6,818			11,702
Total non-property income		9,514				10,594			16,834			20,209

Other expenses
Property management		4,789				4,377			14,994			13,848
Fee and asset management		1,155				1,074			3,611			3,512
General and administrative		7,568				7,532			22,339			23,010
Interest		31,781				31,117			95,078			97,364
Depreciation and amortization		43,685				42,697			129,963			130,197
Amortization of deferred financing costs		1,185				682			2,624			2,356
Expense on deferred compensation plans		6,918				8,194			6,818			11,702
Total other expenses		97,081				95,673			275,427			281,989

Gain on sale of properties, including land		-				-			236			-
Loss on early retirement of debt		-				-			-			(2,550	)
Equity in income (loss) of joint ventures		(244	)			(38	)		(785	)		592
Income from continuing operations before income taxes		4,218				6,039			12,432			16,804
Income tax expense - current		(712	)			(126	)		(1,286	)		(772	)
Income from continuing operations		3,506				5,913			11,146			16,032
Income from discontinued operations		326				279			715			2,265
Gain on sale of discontinued operations		-				-			-			16,887
Net income		3,832				6,192			11,861			35,184
Less income allocated to noncontrolling interests from continuing operations		(432	)			(505	)		(542	)		(1,448	)
Less income allocated to perpetual preferred units		(1,750	)			(1,750	)		(5,250	)		(5,250	)
Net income attributable to common shareholders		$1,650				$3,937			$6,069			$28,486


CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME
Net income		$3,832				$6,192			$11,861			$35,184
Other comprehensive income (loss)
Unrealized loss on cash flow hedging activities		(5,323	)			(8,732	)		(19,549	)		(10,307	)
Reclassification of net losses on cash flow hedging activities		5,825				5,697			17,488			16,442
Unrealized gain on available-for-sale securities, net of tax		1,914				-			1,914			-
Comprehensive income		6,248				3,157			11,714			41,319
Less income allocated to noncontrolling interests from continuing operations		(432	)			(505	)		(542	)		(1,448	)
Less income allocated to perpetual preferred units		(1,750	)			(1,750	)		(5,250	)		(5,250	)
Comprehensive income attributable to common shareholders		$4,066				$902			$5,922			$34,621


PER SHARE DATA
Net income attributable to common shareholders - basic		$0.02				$0.06			$0.09			$0.46
Net income attributable to common shareholders - diluted		0.02				0.06			0.09			0.46
Income from continuing operations attributable to common shareholders - basic		0.02				0.06			0.08			0.15
Income from continuing operations attributable to common shareholders - diluted		0.02				0.06			0.08			0.15

Weighted average number of common and
common equivalent shares outstanding:
Basic		69,100				66,094			67,898			61,087
Diluted		69,441				66,602			68,169			61,579


Note: Please refer to pages 28 and 29 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN

FUNDS FROM OPERATIONS

(In thousands, except per share and property data amounts)

(Unaudited)	Three Months Ended				Nine Months Ended
	September 30,				September 30,
FUNDS FROM OPERATIONS	2010		2009		2010		2009

Net income attributable to common shareholders		$1,650		$3,937		$6,069		$28,486
Real estate depreciation from continuing operations		42,457		41,636		126,350		127,141
Real estate depreciation from discontinued operations		-		198		325		566
Adjustments for unconsolidated joint ventures		2,292		1,935		6,753		5,812
Income allocated to noncontrolling interests		281		406		864		1,148
Gain on sale of discontinued operations		-		-		-		(16,887	)
Funds from operations - diluted		$46,680		$48,112		$140,361		$146,266

PER SHARE DATA
Funds from operations - diluted		$0.65		$0.70		$1.98		$2.29
Cash distributions		0.45		0.45		1.35		1.60

Weighted average number of common and
common equivalent shares outstanding:
FFO - diluted		72,025		68,959		70,779		63,967

PROPERTY DATA
Total operating properties (end of period) (a)		186		183		186		183
Total operating apartment homes in operating properties (end of period) (a)		63,964		63,286		63,964		63,286
Total operating apartment homes (weighted average)		50,929		50,383		50,729		50,639
Total operating apartment homes - excluding discontinued operations (weighted average)		50,327		49,781		50,127		49,589


(a) Includes joint ventures and properties held for sale.






Note: Please refer to pages 28 and 29 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN							BALANCE SHEETS
										(In thousands)

(Unaudited)	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
	2010			2010			2010			2009			2009
ASSETS
Real estate assets, at cost
Land		$763,559			$746,195			$748,604			$747,921			$746,825
Buildings and improvements		4,613,036			4,521,376			4,527,523			4,512,124			4,484,335
		5,376,595			5,267,571			5,276,127			5,260,045			5,231,160
Accumulated depreciation		(1,263,173	)		(1,221,422	)		(1,191,604	)		(1,149,056	)		(1,107,227	)
Net operating real estate assets		4,113,422			4,046,149			4,084,523			4,110,989			4,123,933
Properties under development and land		198,377			199,012			196,371			201,581			279,620
Investments in joint ventures		33,226			50,392			42,994			43,542			43,236
Properties held for sale, including land		9,737			9,692			-			-			6,622
Total real estate assets		4,354,762			4,305,245			4,323,888			4,356,112			4,453,411
Accounts receivable - affiliates		32,269			31,993			32,657			36,112			35,971
Notes receivable - affiliates		17,509			38,478			46,118			45,847			54,462
Other assets, net (a)		105,950			87,371			92,983			102,114			104,669
Cash and cash equivalents		91,071			128,155			28,553			64,156			81,683
Restricted cash		5,174			3,738			3,680			3,658			3,901
Total assets		$4,606,735			$4,594,980			$4,527,879			$4,607,999			$4,734,097



LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Notes payable
Unsecured		$1,507,858			$1,590,287			$1,590,473			$1,645,926			$1,646,106
Secured		1,034,354			981,816			980,188			979,273			976,051
Accounts payable and accrued expenses		82,598			63,663			69,858			74,420			78,466
Accrued real estate taxes		40,340			28,416			17,005			23,241			42,386
Other liabilities (b)		144,146			137,020			138,136			145,176			145,464
Distributions payable		34,548			34,275			33,403			33,025			33,028
Total liabilities		2,843,844			2,835,477			2,829,063			2,901,061			2,921,501

Commitments and contingencies

Perpetual preferred units		97,925			97,925			97,925			97,925			97,925

Shareholders' equity
Common shares of beneficial interest		804			798			778			770			770
Additional paid-in capital		2,673,606			2,641,354			2,548,722			2,525,656			2,522,525
Distributions in excess of net income attributable to common shareholders		(580,046	)		(550,039	)		(520,798	)		(492,571	)		(383,265	)
Notes receivable secured by common shares		-			(102	)		(101	)		(101	)		(101	)
Treasury shares, at cost		(461,255	)		(461,517	)		(461,517	)		(462,188	)		(462,188	)
Accumulated other comprehensive loss (c)		(41,302	)		(43,718	)		(42,093	)		(41,155	)		(44,921	)
Total common shareholders' equity		1,591,807			1,586,776			1,524,991			1,530,411			1,632,820
Noncontrolling interest		73,159			74,802			75,900			78,602			81,851
Total shareholders' equity		1,664,966			1,661,578			1,600,891			1,609,013			1,714,671
Total liabilities and shareholders' equity		$4,606,735			$4,594,980			$4,527,879			$4,607,999			$4,734,097



(a) includes:
net deferred charges of:		$14,892			$10,193			$10,704			$11,113			$11,617

(b) includes:
deferred revenues of:		$2,347			$2,467			$2,467			$2,664			$2,938
distributions in excess of investments in joint ventures of:		$34,045			$33,074			$32,195			$31,410			$30,507
fair value adjustment of derivative instruments:		$43,267			$43,757			$42,119			$41,083			$44,730

(c) Represents the fair value adjustment of derivative instruments, gain on post retirement obligations and unrealized gain on available-for-sale securities, net of tax.

CAMDEN																					PORTFOLIO STATISTICS

(Unaudited)

COMMUNITY PORTFOLIO AT SEPTEMBER 30, 2010 (in apartment homes)

	"Same Property"			Non-"Same Property" (a)			Fully Consolidated			Joint Venture		Stabilized Operating			Completed in Lease-up			Total Operating			Under Construction			Total
D.C. Metro (b)		4,525			1,035			5,560			508		6,068			-			6,068			187			6,255
Houston, TX (c)		4,188			527			4,715			1,793		6,508			459			6,967			-			6,967
Tampa, FL		5,503			-			5,503			-		5,503			-			5,503			-			5,503
Las Vegas, NV		3,969			-			3,969			4,047		8,016			-			8,016			-			8,016
SE Florida		2,520			-			2,520			-		2,520			-			2,520			-			2,520
Dallas, TX (a)		4,545			1,118			5,663			456		6,119			-			6,119			-			6,119
Los Angeles/Orange County, CA		1,770			290			2,060			421		2,481			-			2,481			-			2,481
Charlotte, NC		3,418			156			3,574			-		3,574			-			3,574			-			3,574
Orlando, FL		3,296			261			3,557			-		3,557			-			3,557			420			3,977
Atlanta, GA (d)		3,202			-			3,202			-		3,202			-			3,202			110			3,312
Raleigh, NC		2,704			-			2,704			-		2,704			-			2,704			-			2,704
Denver, CO		1,851			-			1,851			320		2,171			-			2,171			-			2,171
San Diego/Inland Empire, CA		1,196			-			1,196			-		1,196			-			1,196			-			1,196
Austin, TX		1,645			208			1,853			601		2,454			-			2,454			-			2,454
Phoenix, AZ		1,441			-			1,441			992		2,433			-			2,433			-			2,433
Other		984			778			1,762			3,237		4,999			-			4,999			-			4,999

Total Portfolio		46,757			4,373			51,130			12,375		63,505			459			63,964			717			64,681

(a) Includes one property held for sale and reported in discontinued operations (602 apartment homes).
(b) D.C. Metro includes Washington D.C., Maryland, and Northern Virginia.
(c) 459 units completed in lease-up in Houston, TX are held through joint venture investments.
(d) 110 units under construction in Atlanta, GA are held through a joint venture investment.

THIRD QUARTER NOI CONTRIBUTION PERCENTAGE BY REGION												WEIGHTED AVERAGE OCCUPANCY FOR THE QUARTER ENDED: (g)


	"Same Property"			Operating			Incl. JVs at					Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
	Communities			Communities (e)			Pro Rata % (f)						2010			2010			2010			2009			2009
D.C. Metro		17.5	%		20.0	%		19.5	%				96.4	%		95.8	%		94.1	%		94.1	%		95.9	%
Houston, TX		8.6	%		8.6	%		9.4	%				93.4	%		93.8	%		93.7	%		93.3	%		94.8	%
Tampa, FL		8.9	%		8.1	%		7.7	%				93.8	%		93.5	%		92.7	%		92.6	%		92.9	%
Las Vegas, NV		7.1	%		6.5	%		7.3	%				92.3	%		92.3	%		92.0	%		90.6	%		91.4	%
SE Florida		7.6	%		7.0	%		6.7	%				95.0	%		95.1	%		95.6	%		94.6	%		94.8	%
Dallas, TX		6.4	%		6.8	%		6.6	%				92.5	%		91.6	%		90.6	%		90.9	%		92.8	%
Los Angeles/Orange County, CA		6.3	%		6.3	%		6.4	%				93.3	%		94.2	%		93.5	%		94.1	%		94.1	%
Charlotte, NC		6.1	%		5.9	%		5.6	%				95.1	%		95.2	%		94.5	%		94.0	%		93.4	%
Orlando, FL		5.7	%		5.8	%		5.5	%				94.0	%		93.2	%		93.0	%		92.8	%		93.6	%
Atlanta, GA		5.8	%		5.3	%		5.1	%				94.2	%		94.2	%		92.6	%		93.0	%		93.4	%
Raleigh, NC		5.1	%		4.6	%		4.4	%				95.1	%		94.5	%		93.2	%		92.9	%		94.6	%
Denver, CO		4.1	%		3.8	%		4.0	%				95.7	%		95.3	%		92.3	%		93.1	%		95.2	%
San Diego/Inland Empire, CA		3.7	%		3.5	%		3.3	%				92.6	%		94.3	%		93.7	%		92.4	%		93.8	%
Austin, TX		2.6	%		2.7	%		2.7	%				94.8	%		93.7	%		93.0	%		93.3	%		94.2	%
Phoenix, AZ		2.3	%		2.1	%		2.2	%				92.0	%		92.0	%		93.2	%		91.6	%		90.3	%
Other		2.2	%		3.0	%		3.6	%				94.6	%		95.0	%		93.8	%		93.8	%		95.1	%

Total Portfolio		100.0	%		100.0	%		100.0	%				94.0	%		93.8	%		93.1	%		92.7	%		93.6	%


(e) Operating communities include fully-consolidated communities and completed communities in lease-up at quarter end and exclude communities sold during the quarter.
(f) Based on total NOI from operating communities plus Camden's pro-rata share of total NOI from joint venture communities.
(g) Occupancy figures include apartment homes held through joint venture investments but exclude communities in lease-up, under development, or under major redevelopment.

CAMDEN		COMPONENTS OF
	PROPERTY NET OPERATING INCOME
	(In thousands, except property data amounts)

(Unaudited)

	Apartment		Three Months Ended September 30,									Nine Months Ended September 30,
Property Revenues	Homes		2010			2009			Change			2010			2009			Change
"Same Property" Communities (a)		46,757		$142,750			$144,104			($1,354	)		$423,030			$436,168			($13,138	)
Non-"Same Property" Communities (b)		3,771		12,455			9,805			2,650			34,321			27,594			6,727
Development and Lease-Up Communities (c)		607		-			-			-			-			-			-
Other (d)		-		1,071			1,316			(245	)		3,426			3,757			(331	)
Total Property Revenues		51,135		$156,276			$155,225			$1,051			$460,777			$467,519			($6,742	)

Property Expenses
"Same Property" Communities (a)		46,757		$57,888			$58,747			($859	)		$171,352			$172,242			($890	)
Non-"Same Property" Communities (b)		3,771		5,026			4,377			649			14,025			12,160			1,865
Development and Lease-Up Communities (c)		607		-			-			-			-			-			-
Other (d)		-		1,333			945			388			3,826			2,575			1,251
Total Property Expenses		51,135		$64,247			$64,069			$178			$189,203			$186,977			$2,226

Property Net Operating Income
"Same Property" Communities (a)		46,757		$84,862			$85,357			($495	)		$251,678			$263,926			($12,248	)
Non-"Same Property" Communities (b)		3,771		7,429			5,428			2,001			20,296			15,434			4,862
Development and Lease-Up Communities (c)		607		-			-			-			-			-			-
Other (d)		-		(262	)		371			(633	)		(400	)		1,182			(1,582	)
Total Property Net Operating Income		51,135		$92,029			$91,156			$873			$271,574			$280,542			($8,968	)





Income from Discontinued Operations (e)			Three Months Ended September 30,									Nine Months Ended September 30,
			2010			2009						2010			2009
Property Revenues				$952			$1,149						$2,774			$5,752
Property Expenses				626			672						1,734			2,921
Property Net Operating Income				326			477						1,040			2,831
Depreciation and Amortization				-			(198	)					(325	)		(566	)
Gain on sale of discontinued operations				-			-						-			16,887
Income from Discontinued Operations				$326			$279						$715			$19,152

Notes:
(a)	"Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2009, excluding properties held for sale and communities under major redevelopment.
(b)	Non-"Same Property" Communities are stabilized communities acquired or developed by the Company after January 1, 2009, or communities which underwent major redevelopment after January 1, 2009, excluding properties held for sale.
(c)	Development and Lease-Up Communities are non-stabilized communities developed or acquired by the Company after January 1, 2009, excluding properties held for sale and communities under major redevelopment.
(d)	"Other" includes results from non-multifamily rental properties and expenses related to land holdings no longer under active development.
(e)	Represents operating results for communities disposed of during 2009 and communities held for sale at September 30, 2010, of which Camden has, or expects to have, no continuing involvement.

			"SAME PROPERTY"
CAMDEN			THIRD QUARTER COMPARISONS
			SEPTEMBER 30, 2010
			(In thousands, except property data amounts)

(Unaudited)

	Revenues							Expenses									NOI
Quarterly Results (a)	3Q10		3Q09		Growth			3Q10			3Q09			Growth			3Q10		3Q09		Growth

D.C. Metro		$21,142		$20,284		4.2	%		$6,285			$6,472			(2.9	%)		$14,857		$13,812		7.6	%
Houston, TX		12,552		12,965		(3.2	%)		5,267			5,536			(4.9	%)		7,285		7,429		(1.9	%)
Tampa, FL		13,993		14,131		(1.0	%)		6,420			6,707			(4.3	%)		7,573		7,424		2.0	%
Las Vegas, NV		9,985		10,721		(6.9	%)		3,929			4,184			(6.1	%)		6,056		6,537		(7.4	%)
SE Florida		10,907		10,871		0.3	%		4,460			4,494			(0.8	%)		6,447		6,377		1.1	%
Dallas, TX		10,707		10,947		(2.2	%)		5,264			5,275			(0.2	%)		5,443		5,672		(4.0	%)
Los Angeles/Orange County, CA		8,199		8,590		(4.6	%)		2,886			2,790			3.4	%		5,313		5,800		(8.4	%)
Charlotte, NC		9,085		9,145		(0.7	%)		3,925			3,815			2.9	%		5,160		5,330		(3.2	%)
Orlando, FL		8,564		8,803		(2.7	%)		3,697			3,704			(0.2	%)		4,867		5,099		(4.5	%)
Atlanta, GA		8,740		8,769		(0.3	%)		3,836			3,707			3.5	%		4,904		5,062		(3.1	%)
Raleigh, NC		6,956		6,875		1.2	%		2,667			2,750			(3.0	%)		4,289		4,125		4.0	%
Denver, CO		5,507		5,436		1.3	%		2,021			1,971			2.5	%		3,486		3,465		0.6	%
San Diego/Inland Empire, CA		5,450		5,561		(2.0	%)		2,296			2,326			(1.3	%)		3,154		3,235		(2.5	%)
Austin, TX		4,249		4,229		0.5	%		2,072			2,044			1.4	%		2,177		2,185		(0.4	%)
Phoenix, AZ		3,673		3,752		(2.1	%)		1,697			1,679			1.1	%		1,976		2,073		(4.7	%)
Other		3,041		3,025		0.5	%		1,166			1,293			(9.8	%)		1,875		1,732		8.3	%

Total Same Property		$142,750		$144,104		(0.9	%)		$57,888			$58,747			(1.5	%)		$84,862		$85,357		(0.6	%)



	Apartment
	Homes				% of NOI			Average Occupancy (a)									Weighted Average Rental Rate (b)
Quarterly Results (a)	Included				Contribution (a)			3Q10			3Q09			Change			3Q10		3Q09		Change

D.C. Metro		4,525				17.5	%		96.9	%		96.1	%		0.8	%	$	1,434	$	1,395		2.8	%
Houston, TX		4,188				8.6	%		93.2	%		94.9	%		(1.7	%)		956		981		(2.6	%)
Tampa, FL		5,503				8.9	%		93.8	%		92.9	%		0.9	%		747		755		(1.0	%)
Las Vegas, NV		3,969				7.1	%		92.9	%		92.1	%		0.8	%		771		833		(7.4	%)
SE Florida		2,520				7.6	%		95.0	%		94.8	%		0.2	%		1,365		1,348		1.2	%
Dallas, TX		4,545				6.4	%		94.4	%		93.5	%		0.9	%		709		731		(3.1	%)
Los Angeles/Orange County, CA		1,770				6.3	%		93.3	%		94.8	%		(1.5	%)		1,498		1,543		(2.9	%)
Charlotte, NC		3,418				6.1	%		95.0	%		93.4	%		1.6	%		798		820		(2.6	%)
Orlando, FL		3,296				5.7	%		94.0	%		93.6	%		0.4	%		784		811		(3.3	%)
Atlanta, GA		3,202				5.8	%		94.2	%		93.4	%		0.8	%		835		840		(0.7	%)
Raleigh, NC		2,704				5.1	%		95.1	%		94.6	%		0.5	%		758		748		1.4	%
Denver, CO		1,851				4.1	%		95.4	%		95.1	%		0.3	%		900		882		2.0	%
San Diego/Inland Empire, CA		1,196				3.7	%		92.6	%		93.8	%		(1.2	%)		1,476		1,468		0.6	%
Austin, TX		1,645				2.6	%		94.9	%		94.2	%		0.7	%		765		767		(0.3	%)
Phoenix, AZ		1,441				2.3	%		92.4	%		90.1	%		2.3	%		764		784		(2.5	%)
Other		984				2.2	%		93.5	%		94.0	%		(0.5	%)		950		934		1.7	%

Total Same Property		46,757				100.0	%		94.3	%		93.9	%		0.4	%	$	935	$	946		(1.2	%)




(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2009, excluding properties held for sale and communities under major redevelopment
(b) Weighted average rental rates are the Company's market rental rates after "loss to lease" and concessions, but before vacancy and bad debt.

"SAME PROPERTY"
CAMDEN	SEQUENTIAL QUARTER COMPARISONS
	SEPTEMBER 30, 2010
	(In thousands, except property data amounts)


(Unaudited)

		Revenues					Expenses								NOI
Quarterly Results (a)		3Q10	2Q10	Growth				3Q10		2Q10		Growth				3Q10	2Q10	Growth

D.C. Metro		$21,142	$20,542		2.9	%		$6,285		$6,046			4.0	%		$14,857	$14,496		2.5	%
Houston, TX		12,552	12,513		0.3	%		5,267		5,271			(0.1	%)		7,285	7,242		0.6	%
Tampa, FL		13,993	13,816		1.3	%		6,420		6,567			(2.2	%)		7,573	7,249		4.5	%
Las Vegas, NV		9,985	10,006		(0.2	%)		3,929		3,910			0.5	%		6,056	6,096		(0.7	%)
SE Florida		10,907	10,780		1.2	%		4,460		4,273			4.4	%		6,447	6,507		(0.9	%)
Dallas, TX		10,707	10,632		0.7	%		5,264		5,082			3.6	%		5,443	5,550		(1.9	%)
Los Angeles/Orange County, CA		8,199	8,204		(0.1	%)		2,886		2,675			7.9	%		5,313	5,529		(3.9	%)
Charlotte, NC		9,085	9,079		0.1	%		3,925		3,785			3.7	%		5,160	5,294		(2.5	%)
Orlando, FL		8,564	8,478		1.0	%		3,697		3,729			(0.9	%)		4,867	4,749		2.5	%
Atlanta, GA		8,740	8,626		1.3	%		3,836		3,688			4.0	%		4,904	4,938		(0.7	%)
Raleigh, NC		6,956	6,864		1.3	%		2,667		2,579			3.4	%		4,289	4,285		0.1	%
Denver, CO		5,507	5,383		2.3	%		2,021		1,929			4.8	%		3,486	3,454		0.9	%
San Diego/Inland Empire, CA		5,450	5,460		(0.2	%)		2,296		2,266			1.3	%		3,154	3,194		(1.3	%)
Austin, TX		4,249	4,140		2.6	%		2,072		2,024			2.4	%		2,177	2,116		2.9	%
Phoenix, AZ		3,673	3,661		0.3	%		1,697		1,587			6.9	%		1,976	2,074		(4.7	%)
Other		3,041	2,992		1.6	%		1,166		1,209			(3.6	%)		1,875	1,783		5.2	%

Total Same Property		$142,750	$141,176		1.1	%		$57,888		$56,620			2.2	%		$84,862	$84,556		0.4	%



	Apartment
	Homes			% of NOI			Average Occupancy (a)								Weighted Average Rental Rate (b)
Quarterly Results (a)	Included			Contribution (a)				3Q10		2Q10		Change				3Q10	2Q10	Change

D.C. Metro		4,525			17.5	%		96.9	%	96.2	%		0.7	%		$1,434	$1,404		2.1	%
Houston, TX		4,188			8.6	%		93.2	%	93.7	%		(0.5	%)		956	955		0.0	%
Tampa, FL		5,503			8.9	%		93.8	%	93.5	%		0.3	%		747	740		0.9	%
Las Vegas, NV		3,969			7.1	%		92.9	%	92.9	%		0.0	%		771	779		(1.1	%)
SE Florida		2,520			7.6	%		95.0	%	95.1	%		(0.1	%)		1,365	1,345		1.5	%
Dallas, TX		4,545			6.4	%		94.4	%	94.0	%		0.4	%		709	704		0.6	%
Los Angeles/Orange County, CA		1,770			6.3	%		93.3	%	94.0	%		(0.7	%)		1,498	1,495		0.2	%
Charlotte, NC		3,418			6.1	%		95.0	%	95.1	%		(0.1	%)		798	792		0.8	%
Orlando, FL		3,296			5.7	%		94.0	%	93.1	%		0.9	%		784	784		0.0	%
Atlanta, GA		3,202			5.8	%		94.2	%	94.2	%		0.0	%		835	817		2.2	%
Raleigh, NC		2,704			5.1	%		95.1	%	94.5	%		0.6	%		758	744		1.9	%
Denver, CO		1,851			4.1	%		95.4	%	95.5	%		(0.1	%)		900	880		2.2	%
San Diego/Inland Empire, CA		1,196			3.7	%		92.6	%	94.3	%		(1.7	%)		1,476	1,456		1.4	%
Austin, TX		1,645			2.6	%		94.9	%	93.9	%		1.0	%		765	752		1.7	%
Phoenix, AZ		1,441			2.3	%		92.4	%	92.7	%		(0.3	%)		764	759		0.7	%
Other		984			2.2	%		93.5	%	94.7	%		(1.2	%)		950	923		2.9	%

Total Same Property		46,757			100.0	%		94.3	%	94.2	%		0.1	%		$935	$926		1.0	%




(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2009, excluding properties held for sale and
communities under major redevelopment.
(b) Weighted average rental rates are the Company's market rental rates after "loss to lease" and concessions, but before vacancy and bad debt.

"SAME PROPERTY"

CAMDEN

YEAR TO DATE COMPARISONS

SEPTEMBER 30, 2010

(In thousands, except property data amounts)



(Unaudited)

	Revenues								Expenses									NOI
Year to Date Results (a)	2010		2009			Growth			2010			2009			Growth			2010		2009		Growth

D.C. Metro		$61,510		$60,527			1.6	%		$19,153			$18,926			1.2	%		$42,357		$41,601		1.8	%
Houston, TX		37,590		39,184			(4.1	%)		15,770			16,101			(2.1	%)		21,820		23,083		(5.5	%)
Tampa, FL		41,470		42,682			(2.8	%)		19,439			20,247			(4.0	%)		22,031		22,435		(1.8	%)
Las Vegas, NV		29,985		32,719			(8.4	%)		11,739			11,823			(0.7	%)		18,246		20,896		(12.7	%)
SE Florida		32,442		33,258			(2.5	%)		12,977			13,565			(4.3	%)		19,465		19,693		(1.2	%)
Dallas, TX		31,864		33,458			(4.8	%)		15,408			15,625			(1.4	%)		16,456		17,833		(7.7	%)
Los Angeles/Orange County, CA		24,544		26,001			(5.6	%)		8,258			8,127			1.6	%		16,286		17,874		(8.9	%)
Charlotte, NC		27,102		28,183			(3.8	%)		11,519			11,183			3.0	%		15,583		17,000		(8.3	%)
Orlando, FL		25,490		26,595			(4.2	%)		11,142			11,187			(0.4	%)		14,348		15,408		(6.9	%)
Atlanta, GA		25,812		26,781			(3.6	%)		11,235			10,804			4.0	%		14,577		15,977		(8.8	%)
Raleigh, NC		20,451		20,702			(1.2	%)		7,816			7,745			0.9	%		12,635		12,957		(2.5	%)
Denver, CO		16,006		16,197			(1.2	%)		5,612			5,476			2.5	%		10,394		10,721		(3.1	%)
San Diego/Inland Empire, CA		16,310		16,434			(0.8	%)		6,821			6,745			1.1	%		9,489		9,689		(2.1	%)
Austin, TX		12,460		12,765			(2.4	%)		6,114			6,280			(2.6	%)		6,346		6,485		(2.1	%)
Phoenix, AZ		11,023		11,597			(4.9	%)		4,863			4,796			1.4	%		6,160		6,801		(9.4	%)
Other		8,971		9,085			(1.3	%)		3,486			3,612			(3.5	%)		5,485		5,473		0.2	%

Total Same Property		$423,030		$436,168			(3.0	%)		$171,352			$172,242			(0.5	%)		$251,678		$263,926		(4.6	%)



	Apartment
	Homes					% of NOI			Average Occupancy (a)									Weighted Average Rental Rate (b)
Year to Date Results (a)	Included				Contribution (a)					2010			2009		Change			2010		2009		Change

D.C. Metro		4,525					16.8	%		95.8	%		95.1	%		0.7	%		$1,409		$1,404		0.4	%
Houston, TX		4,188					8.7	%		93.6	%		95.3	%		(1.7	%)		956		988		(3.2	%)
Tampa, FL		5,503					8.8	%		93.3	%		93.3	%		0.0	%		742		766		(3.1	%)
Las Vegas, NV		3,969					7.3	%		92.7	%		93.2	%		(0.5	%)		779		855		(8.8	%)
SE Florida		2,520					7.7	%		95.3	%		94.9	%		0.4	%		1,348		1,374		(1.9	%)
Dallas, TX		4,545					6.5	%		93.7	%		94.1	%		(0.4	%)		706		741		(4.6	%)
Los Angeles/Orange County, CA		1,770					6.5	%		93.4	%		93.6	%		(0.2	%)		1,497		1,581		(5.3	%)
Charlotte, NC		3,418					6.2	%		94.9	%		93.3	%		1.6	%		794		846		(6.1	%)
Orlando, FL		3,296					5.7	%		93.3	%		93.8	%		(0.5	%)		784		828		(5.3	%)
Atlanta, GA		3,202					5.8	%		93.7	%		93.4	%		0.3	%		823		859		(4.2	%)
Raleigh, NC		2,704					5.0	%		94.3	%		94.2	%		0.1	%		746		754		(1.1	%)
Denver, CO		1,851					4.1	%		94.4	%		94.8	%		(0.4	%)		884		891		(0.8	%)
San Diego/Inland Empire, CA		1,196					3.8	%		93.5	%		93.1	%		0.4	%		1,461		1,487		(1.8	%)
Austin, TX		1,645					2.5	%		93.9	%		93.7	%		0.2	%		756		782		(3.3	%)
Phoenix, AZ		1,441					2.4	%		92.9	%		91.6	%		1.3	%		760		813		(6.4	%)
Other		984					2.2	%		94.5	%		94.5	%		0.0	%		929		939		(1.0	%)

Total Same Property		46,757					100.0	%		94.0	%		94.0	%		0.0	%		$928		$961		(3.4	%)




(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2009, excluding properties held for sale and
communities under major redevelopment.
(b) Weighted average rental rates are the Company's market rental rates after "loss to lease" and concessions, but before vacancy and bad debt.


	"SAME PROPERTY" OPERATING EXPENSE
CAMDEN	DETAIL AND COMPARISONS
		SEPTEMBER 30, 2010
	(In thousands, except property data amounts)



(Unaudited)

Quarterly Comparison (a)	3Q10	3Q09	$ Change			% Change			% of Actual 3Q10 Operating Expenses

Property taxes	$14,783	$16,255		($1,472	)		(9.1	%)		25.5	%
Salaries and Benefits for On-site Employees	13,870	13,347		523			3.9	%		24.0	%
Utilities	13,736	12,857		879			6.8	%		23.7	%
Repairs and Maintenance	9,160	9,712		(552	)		(5.7	%)		15.8	%
Property Insurance	2,669	3,117		(448	)		(14.4	%)		4.6	%
Other	3,670	3,459		211			6.1	%		6.4	%

Total Same Property	$57,888	$58,747		($859	)		(1.5	%)		100.0	%



Sequential Comparison (a)	3Q10	2Q10	$ Change			% Change				% of Actual 3Q10 Operating Expenses

Property taxes	$14,783	$16,045		($1,262	)		(7.9	%)		25.5	%
Salaries and Benefits for On-site Employees	13,870	12,865		1,005			7.8	%		24.0	%
Utilities	13,736	11,999		1,737			14.5	%		23.7	%
Repairs and Maintenance	9,160	8,928		232			2.6	%		15.8	%
Property Insurance	2,669	3,293		(624	)		(18.9	%)		4.6	%
Other	3,670	3,490		180			5.1	%		6.4	%

Total Same Property	$57,888	$56,620		$1,268			2.2	%		100.0	%



Year to Date Comparison (a)	2010	2009	$ Change			% Change				% of Actual 2010 Operating Expenses

Property taxes	$47,002	$50,124		($3,122	)		(6.2	%)		27.4	%
Salaries and Benefits for On-site Employees	39,824	40,174		(350	)		(0.9	%)		23.2	%
Utilities	37,675	35,796		1,879			5.2	%		22.0	%
Repairs and Maintenance	26,379	26,151		228			0.9	%		15.4	%
Property Insurance	9,757	9,457		300			3.2	%		5.7	%
Other	10,715	10,540		175			1.7	%		6.3	%

Total Same Property	$171,352	$172,242		($890	)		(0.5	%)		100.0	%





(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2009, excluding properties
held for sale and communities under major redevelopment.

CAMDEN

JOINT VENTURE OPERATIONS

(In thousands, except per share and property data amounts)



Company's Pro-rata Share of Joint Venture Operations:
(Unaudited)
	Three Months Ended									Nine Months Ended
	September 30,									September 30,
OPERATING DATA (a)	2010			2009						2010			2009
Property Revenues
Rental revenues		$7,214			$6,666						$20,947			$19,622
Other property revenues		1,110			1,234						3,138			3,347
Total property revenues		8,324			7,900						24,085			22,969

Property Expenses
Property operating and maintenance		2,929			2,724						7,988			7,203
Real estate taxes		889			945						3,008			2,668
Total property expenses		3,818			3,669						10,996			9,871

Net Operating Income (NOI)		4,506			4,231						13,089			13,098

Other expenses
Interest		2,226			2,143						6,535			6,325
Depreciation and amortization		2,363			2,079						6,977			6,027
Other		161			47						362			154
Total other expenses		4,750			4,269						13,874			12,506

Equity in income (loss) of joint ventures		($244	)		($38	)					($785	)		$592



	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
		2010			2010			2010			2009			2009
BALANCE SHEET DATA (b)
Land		$207,835			$224,767			$224,767			$221,570			$219,549
Buildings and improvements		1,066,607			1,118,940			1,116,369			1,097,778			1,084,279
		1,274,442			1,343,707			1,341,136			1,319,348			1,303,828
Accumulated depreciation		(210,378	)		(208,560	)		(198,220	)		(187,455	)		(176,799	)
Real estate assets, net		1,064,064			1,135,147			1,142,916			1,131,893			1,127,029
Properties under development and land		26,516			23,304			23,067			42,930			53,093
Cash and other assets, net		30,827			28,416			25,436			27,180			27,947
Total assets		$1,121,407			$1,186,867			$1,191,419			$1,202,003			$1,208,069

Notes payable		$949,870			$983,370			$982,546			$980,944			$979,032
Notes payable due to Camden		17,696			43,852			50,725			49,710			57,574
Other liabilities		19,193			16,639			14,443			19,425			21,319
Total liabilities		986,759			1,043,861			1,047,714			1,050,079			1,057,925

Members' equity		134,648			143,006			143,705			151,924			150,144
Total liabilities and members' equity		$1,121,407			$1,186,867			$1,191,419			$1,202,003			$1,208,069

Camden's equity investment		$33,226			$50,392			$42,994			$43,542			$43,236
Distributions in excess of investment in joint ventures		($34,045	)		($33,074	)		($32,195	)		($31,410	)		($30,507	)

Camden's pro-rata share of debt (c)		$249,157			$261,102			$249,195			$248,410			$232,716



PROPERTY DATA (end of period)
Total operating properties		43			43			43			42			42
Total operating apartment homes		12,834			12,818			12,818			12,699			12,699
Pro rata share of operating apartment homes		2,905			2,843			2,793			2,758			2,615
Total development properties		1			0			0			1			1
Total development apartment homes		110			0			0			119			119
Pro rata share of development apartment homes		22			0			0			36			36



(a) Operating data represents Camden's pro-rata share of revenues and expenses.
(b) Balance sheet and property data reported at 100%.
(c) Excludes Camden's pro-rata share of notes payable due to Camden.

CAMDEN										CURRENT DEVELOPMENT COMMUNITIES

(Unaudited)

AS OF SEPTEMBER 30, 2010 ($ in millions)

Estimated/Actual Dates for

Total

Cost to

Amount

Construction

Initial

Construction

Stabilized

Development Communities Under Construction

Homes

Budget

Date

in CIP

Start

Occupancy

Completion

Operations

Camden Lake Nona

420

$61.0

$25.7

3Q10

4Q11

3Q12

4Q14

Orlando, FL

Camden Summerfield II

187

32.0

4.6

3Q10

2Q12

3Q12

2Q13

Landover, MD

Total Development Communities

607

$93.0

$30.3

Additional Development Pipeline & Land (a)

168.1

Total Properties Under Development and Land (per Balance Sheet)

$198.4

NOI CONTRIBUTION FROM NON STABILIZED COMMUNITIES ($ in millions)

Total Cost

3Q10 NOI

Development Communities stabilized at quarter end

$30.9

$0.3

Total Development NOI Contribution

$30.9

$0.3

(a)	Please refer to the Development Pipeline & Land Summary on page 19.

Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 2 of this document.

CAMDEN

JOINT VENTURE DEVELOPMENT COMMUNITIES

(Unaudited)

AS OF SEPTEMBER 30, 2010 ($ in millions)

Camden

Cash

Estimated/Actual Dates for

Joint Venture Third Party Developed

Total

Equity

Construction

Initial

Construction

Stabilized

As of 10/31/10

Communities Completed

Homes

Cost

Invested

Start

Occupancy

Completion

Operations

% Leased

% Occupied

Braeswood Place

340

$50.2

$10.9

1Q07

1Q09

3Q09

2Q11

Houston, TX

Belle Meade

119

37.6

9.6

4Q07

3Q09

1Q10

1Q11

Houston, TX

Total Joint Venture Third Party Developed Communities Completed

459

$87.8

$20.5

Estimated/Actual Dates for

Joint Venture Third Party Developed

Total

Amount

Construction

Initial

Construction

Stabilized

As of 10/31/10

Communities Under Construction

Homes

Budget

Cost

in CIP

Start

Occupancy

Completion

Operations

% Leased

% Occupied

Camden Ivy Hall

110

$17.5

$15.9

$3.0

1Q11

2Q11

Atlanta, GA

Total Joint Venture Third Party

110

$17.5

$15.9

$3.0

Developed Communities Under Construction

Camden

Cash

Camden

Joint Venture Third Party Developed

Total

Cost

Equity

Mezzanine

Pipeline Communities

Acres

to Date

Invested

Lakes at 610

6.1

$7.3

$1.1

$3.4

Houston, TX

Total Joint Venture Third Party Developed Pipeline Communities

6.1

$7.3

$1.1

$3.4

Camden

Estimated

Cash

Guaranteed

Joint Venture Third Party Developed

Total

Cost

Equity

Debt

4Q09

Impaired Communities

Acres

to Date

Invested

Payment (a)

Impairment

Town Lake

25.9

$41.4

$9.3

$4.2

13.4

Austin, TX

Total Joint Venture Third Party Developed Impaired Communities

25.9

$41.4

$9.3

$4.2

13.4

(a) The estimated guaranteed debt payment was included within the impairment charge recorded during 4Q09.

Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 2 of this document.

CAMDEN		DEVELOPMENT PIPELINE & LAND



(Unaudited)

AS OF SEPTEMBER 30, 2010 ($ in millions)

			Projected
PIPELINE COMMUNITIES (a)			Homes		Cost to Date

1.	Camden Noma			317		$28.8
	Washington, DC
2.	Camden Royal Oaks II			103		5.0
	Houston, TX
3.	Camden Countryway			348		17.4
	Tampa, FL
4.	Camden Celebration			438		17.7
	Orlando, FL
5.	Camden Montague			192		3.6
	Tampa, FL
6.	Camden City Centre II			260		5.1
	Houston, TX
7.	Camden 5400 North Lamar			291		4.3
	Austin, TX
8.	Camden South Capitol			276		9.1
	Washington, DC
9.	Camden Amber Oaks II			244		1.8
	Austin, TX

Development Pipeline				2,469		$92.8

LAND HOLDINGS			Acreage		Cost to Date

	Washington, DC			0.9		$17.3
	Los Angeles, CA			2.0		17.3
	Houston, TX			16.3		9.9
	Denver, CO			23.3		11.6
	Dallas, TX			7.2		8.6
	Southeast Florida			2.2		4.6
	Las Vegas, NV			19.6		4.2
	Other			4.8		1.8

Land Holdings				76.3		$75.3

Total Development Pipeline and Land						$168.1


(a) Represents development opportunities in the early phase of the development process for which the Company either has an option to acquire land or enter into a leasehold interest, for which the Company is the buyer under a long-term conditional contract to purchase land or where the Company owns land to develop a new community.


Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 2 of this document.

CAMDEN

NOTES RECEIVABLE SUMMARY

(Unaudited)

NOTES RECEIVABLE AS OF SEPTEMBER 30, 2010 ($ in thousands)

09/30/10

06/30/10

Total

Note

Location

Current Property Type

Current Status

Homes

Balance

Irvine, CA

Multifamily

Stable

$20,776

Houston, TX

Multifamily

Stable/Predevelopment

590

8,003

8,100

College Park, MD

Multifamily

Stable

508

9,506

9,602

Total Notes Receivable:

1,098

$17,509

$38,478

Weighted Average Interest Rate Recognized:

9.3

4.5

CAMDEN

ACQUISITIONS & DISPOSITIONS

(Unaudited)

2010 ACQUISITION/DISPOSITION ACTIVITY

Joint Venture Acquisitions

Location

Property Type

Apartment Homes

Year Built

Closing Date

Camden Yorktown

Houston, TX

Multifamily

306

2008

07/08/10

Camden Ivy Hall

Atlanta, GA

Multifamily

110

2010

07/27/10

Total Acquisition Volume:

$8.0 million (a)

416 apartment homes

Dispositions

Location

Property Type

Acreage

Closing Date

Andrau Land Parcel 1

Houston, TX

Undeveloped Land

0.7

04/19/10

Andrau Land Parcel 2

Houston, TX

Undeveloped Land

1.0

05/25/10

Total Disposition Volume:

$0.9 million

1.7 acres

(a) Represents Camden's pro-rata ownership.

CAMDEN							DEBT ANALYSIS
							(In thousands, except property data amounts)


(Unaudited)

DEBT MATURITIES AS OF SEPTEMBER 30, 2010:

	Future Scheduled Repayments											Weighted Average
			Secured		Unsecured				Percent			Interest Rate on
Year	Amortization		Maturities		Maturities		Total		of Total			Maturing Debt
2010		$1,148		$0		$0		$1,148		0.0	%		0.0%
2011		4,220		31,328		122,966		158,514		6.2	%		6.2%
2012		3,458		69,541		689,667		762,666		30.0	%		5.4%
2013		2,177		25,831		200,000		228,008		9.0	%		5.4%
2014		2,135		8,827		0		10,962		0.4	%		6.0%
Thereafter		84,164		800,000		496,750		1,380,914		54.4	%		4.7%
Total Maturing Debt		$97,302		$935,527		$1,509,383		$2,542,212		100.0	%		5.0%

Unsecured Line of Credit		0		0		0		0		0.0	%		N/A
Total Debt		$97,302		$935,527		$1,509,383		$2,542,212		100.0	%		5.0%

Weighted Average Maturity of Debt			5.7 Years


							Weighted Average
FLOATING vs. FIXED RATE DEBT:			Balance		% of Total		Interest Rate		Time to Maturity
Floating rate debt				$230,395		9.1%		1.3%	9.3 Years
Fixed rate debt				2,311,817		90.9%		5.4%	5.4 Years
Total				$2,542,212		100.0%		5.0%	5.7 Years

							Weighted Average
SECURED vs. UNSECURED DEBT:			Balance		% of Total		Interest Rate		Time to Maturity
Unsecured debt				$1,507,858		59.3%		5.5%	3.3 Years
Secured debt				1,034,354		40.7%		4.3%	9.4 Years
Total				$2,542,212		100.0%		5.0%	5.7 Years

							Weighted Average
SECURED DEBT DETAIL:			Balance		% of Total		Interest Rate		Time to Maturity
Conventional fixed-rate mortgage debt (a)				$803,959		77.8%		5.2%	9.4 Years
Conventional variable-rate mortgage debt (a)				189,779		18.3%		1.2%	7.5 Years
Tax exempt variable rate debt				40,616		3.9%		1.7%	17.7 Years
Total				$1,034,354		100.0%		4.3%	9.4 Years

REAL ESTATE ASSETS: (b)			Total Homes		% of Total		Total Cost		% of Total
Unencumbered real estate assets				37,822		73.1%		$4,008,153		71.6%
Encumbered real estate assets				13,915		26.9%		1,587,495		28.4%
Total				51,737		100.0%		$5,595,648		100.0%

				Ratio of unencumbered assets at cost to unsecured debt is 2.7 times



(a) Mortgage debt includes a construction loan for Camden Travis Street with a $31.3MM balance at 9/30/10, of which $16.6MM was fixed utilizing an interest rate swap.
(b) Real estate assets include communities under development and properties held for sale and exclude communities held through unconsolidated joint ventures.

CAMDEN					DEBT MATURITY ANALYSIS
					(In thousands)


(Unaudited)

ADDITIONAL DETAIL OF DEBT MATURITIES FOR 2010 AND 2011:


	Future Scheduled Repayments								Weighted Average
			Secured		Unsecured				Interest Rate on
Quarter	Amortization		Maturities		Maturities		Total		Maturing Debt
4Q 2010		$1,148		$0		$0		$1,148		N/A
2010		$1,148		$0		$0		$1,148		N/A


1Q 2011		$1,183		$0		$87,966		$89,149		7.7%
2Q 2011		1,100		0		35,000		36,100		5.0%
3Q 2011		956		31,328		0		32,284		3.5%
4Q 2011		981		0		0		981		N/A
2011		$4,220		$31,328		$122,966		$158,514		6.2%

CAMDEN		DEBT COVENANT ANALYSIS



(Unaudited)


UNSECURED LINE OF CREDIT


Covenant (a)	Required		Actual (b)	Compliance
Total Consolidated Debt to Gross Asset Value	≤	60%	44%	Yes

Secured Debt to Gross Asset Value	≤	35%	18%	Yes

Consolidated EBITDA to Total Fixed Charges	≥	150%	217%	Yes

Unencumbered Adjusted NOI to Unsecured Interest Expense	>	200%	275%	Yes

Unencumbered Adjusted NOI to Total Unsecured Debt	>	11.5%	15%	Yes



SENIOR UNSECURED NOTES

Covenant (a)	Required		Actual (b)	Compliance
Total Consolidated Debt to Total Asset Value	≤	60%	44%	Yes

Total Secured Debt to Total Asset Value	≤	40%	18%	Yes

Total Unencumbered Asset Value to Total Unsecured Debt	≥	150%	281%	Yes

Consolidated Income Available for Debt Service to Total	>	150%	246%	Yes
Annual Service Charges


(a) For a complete listing of all Debt Covenants related to the Company's Unsecured Line of Credit and Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company's filings with the Securities and Exchange Commission.

(b) Defined terms used in the above covenant calculations may differ between the Unsecured Line of Credit and the Senior Unsecured Notes.

CAMDEN					UNCONSOLIDATED REAL ESTATE INVESTMENTS
					DEBT ANALYSIS
					(In thousands, except property data amounts)


(Unaudited)

PRO RATA SHARE OF UNCONSOLIDATED DEBT MATURITIES AS OF SEPTEMBER 30, 2010:

	Future Scheduled Repayments (a)										Weighted Average
			Secured					Percent			Interest Rate on
Year (b)	Amortization		Maturities (c)		Total			of Total			Maturing Debt
2010 (c)		$95		$78,740		$78,835			31.6	%	2.4%
2011		445		23,150		23,595			9.5	%	1.4%
2012		515		111,275		111,790			44.9	%	5.1%
2013		605		0		605			0.2	%	N/A
2014		582		11,710		12,292			4.9	%	5.7%
Thereafter		5,052		16,554		21,606			8.7	%	4.1%
Total Maturing Debt		$7,294		$241,429		$248,723			99.8	%	3.8%

Subscription line of credit (d)		0		434		434			0.2	%	1.5%
Total Debt		$7,294		$241,863		$249,157			100.0	%	3.8%

Weighted Average Maturity of Debt (b)			2.0 Years

Total Recourse Exposure (e)				$47,768

								Weighted Average
FLOATING vs. FIXED RATE DEBT:			Balance		% of Total			Interest Rate			Time to Maturity (a)
Floating rate debt				$116,884		46.9	%		2.0	%	1.4 Years
Fixed rate debt				132,273		53.1	%		5.3	%	2.5 Years
Total				$249,157		100.0	%		3.8	%	2.0 Years

								Weighted Average
SECURED DEBT DETAIL:			Balance		% of Total			Interest Rate			Time to Maturity (a)
Conventional fixed-rate mortgage debt				$132,273		53.1	%		5.3	%	2.5 Years
Conventional variable-rate mortgage debt				9,980		4.0	%		1.8	%	3.8 Years
Tax exempt variable rate debt				4,579		1.8	%		0.7	%	21.5 Years
Variable-rate construction loans				101,891		40.9	%		2.1	%	0.2 Years
Subscription line of credit				434		0.2	%		1.5	%	0.9 Years
Total				$249,157		100.0	%		3.8	%	2.0 Years

REAL ESTATE ASSETS: (f)			Total Homes		Total Cost
Operating real estate assets				12,834		$1,236,405
Development real estate assets				110		15,858
Predevelopment and impaired real estate assets				-		48,695
Total				12,944		$1,300,958




(a) Excludes Camden's pro-rata share of Notes Payable due to Camden.
(b) Excluding unexercised extension options.
(c) Includes Camden's pro-rata portion of a joint venture construction loan ($20.0 million) which originally matured in April 2010. The construction lender has extended the mandatory payment due date until 4Q 2010. In December 2009 Camden recorded an impairment charge for the full amount of its guaranty obligation and does not anticipate incurring any additional expenses associated with this loan
(d) As of September 30, 2010 these borrowings were drawn under a subscription secured line of credit with $5.0 million in total capacity. Camden has a 20% ownership interest in the borrowing entity.
(e) Represents Camden's potential liability under joint venture construction loan guarantees as of September 30, 2010.
(f) Balance sheet and property data reported at 100%.

CAMDEN				UNCONSOLIDATED REAL ESTATE INVESTMENTS
				DEBT MATURITY ANALYSIS
				(In thousands)


(Unaudited)

ADDITIONAL DETAIL OF PRO-RATA SHARE OF UNCONSOLIDATED DEBT MATURITIES FOR 2010 and 2011: (a)

								Weighted Average
		Future Scheduled Repayments						Interest Rate on
	Quarter	Amortization		Secured Maturities (b)		Total		Maturing Debt
	4Q 2010(b)		$95		$78,740		$78,835	2.4%
	2010		$95		$78,740		$78,835	2.4%


	1Q 2011		$100		$5,287		$5,387	1.9%
	2Q 2011		99		17,863		17,962	1.3%
	3Q 2011		121		434		555	1.5%
	4Q 2011		125		0		125	N/A
	2011		$445		$23,584		$24,029	1.4%





(a) 3Q 2011 maturities include a subscription secured line of credit with $434 (Camden's pro-rata share) outstanding as of September 30, 2010. The line of credit has $5.0 million in total capacity.
(b) Includes Camden's pro-rata portion of a joint venture construction loan ($20.0 million) which originally matured in April 2010. The construction lender has extended the mandatory payment due date until 4Q 2010. In December 2009 Camden recorded an impairment charge for the full amount of its guaranty obligation and does not anticipate incurring any additional expenses associated with this loan.

CAMDEN	CAPITALIZED EXPENDITURES
	& MAINTENANCE EXPENSE
	(In thousands, except unit data)



(Unaudited)
		Third Quarter 2010 (a)
		Capitalized			Expensed
		Weighted Average
	Item	Useful Life (b)	Total	Per Unit	Total	Per Unit
	Interiors
	Floor coverings	5.5 years	$3,169	$62	$1,056	$21
	Appliances	9.6 years	1,709	34	236	5
	Painting	-	-	-	1,849	36
	Cabinetry/Countertops	10.0 years	285	6	-	-
	Other	10.5 years	908	18	513	10
	Exteriors
	Painting	5.0 years	843	17	-	-
	Carpentry	10.0 years	399	8	-	-
	Landscaping	6.4 years	269	5	2,386	47
	Roofing	20.0 years	238	5	105	2
	Site Drainage	10.0 years	110	2	-	-
	Fencing/Stair	10.0 years	165	3	-	-
	Other (b)	8.0 years	1,190	23	2,412	47
	Common Areas
	Mech., Elec., Plumbing	9.5 years	1,118	22	1,076	21
	Parking/Paving	5.0 years	456	9	-	-
	Pool/Exercise/Facility	6.8 years	767	15	422	8

			$11,626	$228	$10,055	$197

	Weighted Average Apartment Homes			50,929		50,929


		Year to Date 2010 (a)
		Capitalized			Expensed
		Weighted Average
	Item	Useful Life (b)	Total	Per Unit	Total	Per Unit
	Interiors
	Floor coverings	5.5 years	$7,240	$143	$2,532	$50
	Appliances	9.6 years	3,327	66	585	12
	Painting	-	-	-	4,477	88
	Cabinetry/Countertops	10.0 years	671	13	-	-
	Other	10.5 years	2,678	53	1,377	27
	Exteriors
	Painting	5.0 years	1,529	30	-	-
	Carpentry	10.0 years	1,925	38	-	-
	Landscaping	6.4 years	821	16	8,142	160
	Roofing	20.0 years	1,708	34	281	6
	Site Drainage	10.0 years	283	6	-	-
	Fencing/Stair	10.0 years	537	11	-	-
	Other (c)	8.0 years	3,167	62	7,328	144
	Common Areas
	Mech., Elec., Plumbing	9.5 years	2,671	53	2,717	54
	Parking/Paving	5.0 years	737	15	-	-
	Pool/Exercise/Facility	6.8 years	2,684	53	1,096	22

			$29,978	$591	$28,535	$562

	Weighted Average Apartment Homes			50,729		50,729


(a)	Includes discontinued operations. Capitalized expenditures for discontinued operations were $46 and $131 for the three and nine months
	ended September 30, 2010, respectively. Maintenance expenses for discontinued operations were $74 and $191 for the same periods.
(b)	Weighted average useful life of capitalized expenses for the three and nine months ended September 30, 2010.
(c)	Includes in part the following items: site/building repair, masonry/plaster, and general conditions.

CAMDEN	NON-GAAP FINANCIAL MEASURES
	DEFINITIONS & RECONCILIATIONS
(In thousands, except per share amounts)


(Unaudited)

This document contains certain non-GAAP financial measures management believes are useful in evaluating an equity REIT's performance. Camden's definitions and calculations of non-GAAP financial measures may differ from those used by other REITs, and thus may not be comparable. The non-GAAP financial measures should not be considered as an alternative to net income as an indication of our operating performance, or to net cash provided by operating activities as a measure of our liquidity.

FFO
The National Association of Real Estate Investment Trusts (“NAREIT”) currently defines FFO as net income attributable to common shares computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses from depreciable operating property sales, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Camden’s definition of diluted FFO also assumes conversion of all dilutive convertible securities, including minority interests, which are convertible into common equity. The Company considers FFO to be an appropriate supplemental measure of operating performance because, by excluding gains or losses on dispositions of operating properties and excluding depreciation, FFO can help one compare the operating performance of a company's real estate between periods or as compared to different companies. A reconciliation of net income attributable to common shareholders to FFO is provided below:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2010		2009		2010		2009
Net income attributable to common shareholders		$1,650		$3,937		$6,069		$28,486
Real estate depreciation from continuing operations		42,457		41,636		126,350		127,141
Real estate depreciation from discontinued operations		-		198		325		566
Adjustments for unconsolidated joint ventures		2,292		1,935		6,753		5,812
Income allocated to noncontrolling interests		281		406		864		1,148
Gain on sale of discontinued operations		-		-		-		(16,887	)
Funds from operations - diluted		$46,680		$48,112		$140,361		$146,266

Weighted average number of common and
common equivalent shares outstanding:
EPS diluted		69,441		66,602		68,169		61,579
FFO diluted		72,025		68,959		70,779		63,967

Net income attributable to common shareholders - diluted		$0.02		$0.06		$0.09		$0.46
FFO per common share - diluted		$0.65		$0.70		$1.98		$2.29

Expected FFO

Expected FFO is calculated in a method consistent with historical FFO, and is considered an appropriate supplemental measure of expected operating performance when compared to expected net income attributable to common shareholders (EPS). A reconciliation of the ranges provided for expected net income attributable to common shareholders per diluted share to expected FFO per diluted share is provided below:

	4Q10 Range		2010 Range
	Low	High	Low	High

Expected net income attributable to common shareholders per share - diluted	$0.05	$0.09	$0.14	$0.18
Expected real estate depreciation	$0.58	$0.58	$2.35	$2.35
Expected adjustments for unconsolidated joint ventures	$0.03	$0.03	$0.13	$0.13
Expected income allocated to noncontrolling interests	$0.00	$0.00	$0.02	$0.02
Expected FFO per share - diluted	$0.66	$0.70	$2.64	$2.68

Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 2 of this document.

CAMDEN	NON-GAAP FINANCIAL MEASURES
	DEFINITIONS & RECONCILIATIONS
(In thousands, except per share amounts)

(Unaudited)

Net Operating Income (NOI)
NOI is defined by the Company as total property income less property operating and maintenance expenses less real estate taxes. The Company considers NOI to be an appropriate supplemental measure of operating performance to net income attributable to common shareholders because it reflects the operating performance of our communities without allocation of corporate level property management overhead or general and administrative costs. A reconciliation of net income attributable to common shareholders to net operating income is provided below:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
Net income attributable to common shareholders		$1,650			$3,937			$6,069			$28,486
Less: Fee and asset management income		(2,145	)		(1,818	)		(6,028	)		(6,093	)
Less: Interest and other income		(451	)		(582	)		(3,988	)		(2,414	)
Less: (Income) loss on deferred compensation plans		(6,918	)		(8,194	)		(6,818	)		(11,702	)
Plus: Property management expense		4,789			4,377			14,994			13,848
Plus: Fee and asset management expense		1,155			1,074			3,611			3,512
Plus: General and administrative expense		7,568			7,532			22,339			23,010
Plus: Interest expense		31,781			31,117			95,078			97,364
Plus: Depreciation and amortization		43,685			42,697			129,963			130,197
Plus: Amortization of deferred financing costs		1,185			682			2,624			2,356
Plus: Expense (benefit) on deferred compensation plans		6,918			8,194			6,818			11,702
Less: (Gain) on sale of properties, including land		-			-			(236	)		-
Plus: Loss on early retirement of debt		-			-			-			2,550
Less: Equity in (income) loss of joint ventures		244			38			785			(592	)
Plus: Income allocated to perpetual preferred units		1,750			1,750			5,250			5,250
Plus: Income (loss) allocated to noncontrolling interests		432			505			542			1,448
Plus: Income tax expense - current		712			126			1,286			772
Less: (Income) from discontinued operations		(326	)		(279	)		(715	)		(2,265	)
Less: (Gain) loss on sale of discontinued operations		-			-			-			(16,887	)
Net Operating Income (NOI)		$92,029			$91,156			$271,574			$280,542

"Same Property" Communities		$84,862			$85,357			$251,678			$263,926
Non-"Same Property" Communities		7,429			5,428			20,296			15,434
Other		(262	)		371			(400	)		1,182
Net Operating Income (NOI)		$92,029			$91,156			$271,574			$280,542



EBITDA EBITDA is defined by the Company as earnings before interest, taxes, depreciation and amortization, including net operating income from discontinued operations, excluding equity in (income) loss of joint ventures, (gain) loss on early retirement of debt, and income (loss) allocated to noncontrolling interests. The Company considers EBITDA to be an appropriate supplemental measure of operating performance to net income attributable to common shareholders because it represents income before non-cash depreciation and the cost of debt, and excludes gains or losses from property dispositions. A reconciliation of net income attributable to common shareholders to EBITDA is provided below:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
		2010			2009			2010			2009
Net income attributable to common shareholders		$1,650			$3,937			$6,069			$28,486
Plus: Interest expense		31,781			31,117			95,078			97,364
Plus: Amortization of deferred financing costs		1,185			682			2,624			2,356
Plus: Depreciation and amortization		43,685			42,697			129,963			130,197
Plus: Income allocated to perpetual preferred units		1,750			1,750			5,250			5,250
Plus: Income (loss) allocated to noncontrolling interests		432			505			542			1,448
Plus: Income tax expense - current		712			126			1,286			772
Plus: Real estate depreciation and amortization from discontinued operations		-			198			325			566
Less: (Gain) on sale of properties, including land		-			-			(236	)		-
Plus: Loss on early retirement of debt		-			-			-			2,550
Less: Equity in (income) loss of joint ventures		244			38			785			(592	)
Less: (Gain) loss on sale of discontinued operations		-			-			-			(16,887	)
EBITDA		$81,439			$81,050			$241,686			$251,510

CAMDEN

OTHER DATA

(Unaudited)

Stock Symbol:

CPT

Exchange Traded:

NYSE

Senior Unsecured Debt Ratings:

Rating

Outlook

Standard & Poors

BBB

Stable

Moody's

Baa1

Stable

Estimated Future Dates:

Q4 '10

Q1 '11

Q2 '11

Q3 '11

Earnings release & conference call

Early Feb

Early May

Early Aug

Late Oct

Dividend Information - Common Shares:

Q1 '10

Q2 '10

Q3 '10

Declaration Date

03/15/10

06/15/10

09/15/10

Record Date

03/31/10

06/30/10

09/30/10

Payment Date

04/16/10

07/16/10

10/18/10

Distributions Per Share

$0.45

Investor Relations Data:

Camden does not send quarterly reports to shareholders, but supplies 10-Q's, Earnings Releases and Supplemental Data upon request.

For Investor Relations: recent press releases, 10-Q's, 10-K's and other information, call 1-800-9CAMDEN or (713) 354-2787.

To access Camden's Quarterly Conference Call, please visit our web site at camdenliving.com.

For questions contact:

Richard J. Campo

Chairman & Chief Executive Officer

D. Keith Oden

President

H. Malcolm Stewart

Chief Operating Officer

Dennis M. Steen

Chief Financial Officer

Kimberly A. Callahan

Vice President - Investor Relations

CAMDEN							COMMUNITY TABLE
							Community Statistics as of 9/30/10


(Unaudited)									3Q10 Avg
					Year Placed	Average	Apartment	3Q10 Avg	Monthly Rental Rates
Community Name			City	State	in Service	Size	Homes	Occupancy	Per Home	Per Sq. Ft.

	Camden Copper Square		Phoenix	AZ	2000	786	332	92%	$763	$0.97
	Camden Fountain Palms (1)		Peoria	AZ	1986/1996	1,050	192	89%	655	0.62
	Camden Legacy		Scottsdale	AZ	1996	1,067	428	94%	828	0.78
	Camden Pecos Ranch (1)		Chandler	AZ	2001	924	272	95%	737	0.80
	Camden San Paloma		Scottsdale	AZ	1993/1994	1,042	324	94%	864	0.83
	Camden Sierra (1)		Peoria	AZ	1997	925	288	91%	639	0.69
	Camden Towne Center (1)		Glendale	AZ	1998	871	240	90%	655	0.75
	Camden Vista Valley		Mesa	AZ	1986	923	357	90%	598	0.65
		TOTAL ARIZONA	8	Properties		951	2,433	92%	727	0.77

	Camden Crown Valley		Mission Viejo	CA	2001	1,009	380	93%	1,507	1.49
	Camden Harbor View		Long Beach	CA	2004	975	538	93%	1,851	1.90
	Camden Main and Jamboree		Irvine	CA	2008	1,011	290	93%	1,795	1.78
	Camden Martinique		Costa Mesa	CA	1986	794	714	93%	1,241	1.56
	Camden Parkside (1)		Fullerton	CA	1972	836	421	94%	1,170	1.40
	Camden Sea Palms		Costa Mesa	CA	1990	891	138	95%	1,423	1.60
		Total Los Angeles/Orange County	6	Properties		904	2,481	93%	1,477	1.63

	Camden Old Creek		San Marcos	CA	2007	1,037	350	95%	1,523	1.47
	Camden Sierra at Otay Ranch		Chula Vista	CA	2003	962	422	91%	1,480	1.54
	Camden Tuscany		San Diego	CA	2003	896	160	93%	1,818	2.03
	Camden Vineyards		Murrieta	CA	2002	1,053	264	92%	1,202	1.14
		Total San Diego/Inland Empire	4	Properties		995	1,196	93%	1,476	1.48

		TOTAL CALIFORNIA	10	Properties		934	3,677	93%	1,477	1.58

	Camden Caley		Englewood	CO	2000	925	218	97%	855	0.92
	Camden Centennial		Littleton	CO	1985	744	276	94%	660	0.89
	Camden Denver West (1)		Golden	CO	1997	1,015	320	97%	1,049	1.03
	Camden Highlands Ridge		Highlands Ranch	CO	1996	1,149	342	95%	1,104	0.96
	Camden Interlocken		Broomfield	CO	1999	1,022	340	97%	1,088	1.06
	Camden Lakeway		Littleton	CO	1997	932	451	94%	883	0.95
	Camden Pinnacle		Westminster	CO	1985	748	224	95%	677	0.90
		TOTAL COLORADO	7	Properties		949	2,171	96%	922	0.97

	Camden Ashburn Farms		Ashburn	VA	2000	1,062	162	98%	1,336	1.26
	Camden Clearbrook		Frederick	MD	2007	1,048	297	98%	1,223	1.17
	Camden College Park (1)		College Park	MD	2008	942	508	94%	1,532	1.63
	Camden Dulles Station		Oak Hill	VA	2009	984	366	97%	1,467	1.49
	Camden Fair Lakes		Fairfax	VA	1999	1,056	530	98%	1,488	1.41
	Camden Fairfax Corner		Fairfax	VA	2006	934	488	97%	1,533	1.64
	Camden Fallsgrove		Rockville	MD	2004	996	268	98%	1,519	1.53
	Camden Grand Parc		Washington	DC	2002	674	105	96%	2,295	3.40
	Camden Lansdowne		Leesburg	VA	2002	1,006	690	97%	1,263	1.26
	Camden Largo Town Center		Largo	MD	2000/2007	1,027	245	93%	1,525	1.48
	Camden Monument Place		Fairfax	VA	2007	856	368	95%	1,402	1.64
	Camden Potomac Yard		Arlington	VA	2008	835	378	95%	1,824	2.18
	Camden Roosevelt		Washington	DC	2003	856	198	98%	2,252	2.63
	Camden Russett		Laurel	MD	2000	992	426	94%	1,336	1.35
	Camden Silo Creek		Ashburn	VA	2004	975	284	99%	1,269	1.30
	Camden Summerfield		Landover	MD	2008	957	291	93%	1,533	1.60
	Camden Westwind		Ashburn	VA	2006	1,036	464	98%	1,269	1.22
		TOTAL DC METRO	17	Properties		969	6,068	96%	1,473	1.52

	Camden Aventura		Aventura	FL	1995	1,108	379	95%	1,314	1.19
	Camden Brickell		Miami	FL	2003	937	405	97%	1,355	1.45
	Camden Doral		Miami	FL	1999	1,120	260	96%	1,435	1.28
	Camden Doral Villas		Miami	FL	2000	1,253	232	97%	1,537	1.23
	Camden Las Olas		Ft. Lauderdale	FL	2004	1,043	420	92%	1,504	1.44
	Camden Plantation		Plantation	FL	1997	1,201	502	95%	1,236	1.03
	Camden Portofino		Pembroke Pines	FL	1995	1,112	322	95%	1,273	1.14
		Total Southeast Florida	7	Properties		1,103	2,520	95%	1,365	1.24

	Camden Club		Longwood	FL	1986	1,077	436	92%	809	0.75
	Camden Hunter's Creek		Orlando	FL	2000	1,075	270	95%	910	0.85
	Camden Lago Vista		Orlando	FL	2005	955	366	94%	842	0.88
	Camden Landings		Orlando	FL	1983	748	220	94%	637	0.85
	Camden Lee Vista		Orlando	FL	2000	937	492	95%	801	0.85
	Camden Orange Court		Orlando	FL	2008	812	261	94%	1,030	1.28
	Camden Renaissance		Altamonte Springs	FL	1996/1998	899	578	94%	743	0.83
	Camden Reserve		Orlando	FL	1990/1991	824	526	93%	680	0.82
	Camden World Gateway		Orlando	FL	2000	979	408	95%	872	0.89
		Total Orlando	9	Properties		928	3,557	94%	802	0.86

CAMDEN

COMMUNITY TABLE

Community Statistics as of 9/30/10

(Unaudited)

3Q10 Avg

Year Placed

Average

Apartment

3Q10 Avg

Monthly Rental Rates

Community Name

City

State

in Service

Size

Homes

Occupancy

Per Home

Per Sq. Ft.


Camden Bay		Tampa	FL	1997/2001	943	760	95%	792	0.84
Camden Bay Pointe		Tampa	FL	1984	771	368	93%	644	0.84
Camden Bayside		Tampa	FL	1987/1989	748	832	95%	687	0.92
Camden Citrus Park		Tampa	FL	1985	704	247	94%	632	0.90
Camden Lakes		St. Petersburg	FL	1982/1983	732	688	92%	636	0.87
Camden Lakeside		Brandon	FL	1986	729	228	91%	705	0.97
Camden Live Oaks		Tampa	FL	1990	1,093	770	94%	759	0.69
Camden Preserve		Tampa	FL	1996	942	276	95%	948	1.01
Camden Providence Lakes		Brandon	FL	1996	1,024	260	92%	854	0.83
Camden Royal Palms		Brandon	FL	2006	1,017	352	93%	904	0.89
Camden Westshore		Tampa	FL	1986	728	278	95%	770	1.06
Camden Woods		Tampa	FL	1986	1,223	444	94%	777	0.64
	Total Tampa/St. Petersburg	12	Properties		897	5,503	94%	747	0.83

	TOTAL FLORIDA	28	Properties		951	11,580	94%	898	0.94

Camden Brookwood		Atlanta	GA	2002	912	359	96%	916	1.00
Camden Dunwoody		Atlanta	GA	1997	1,007	324	96%	833	0.83
Camden Deerfield		Alpharetta	GA	2000	1,187	292	94%	885	0.75
Camden Midtown Atlanta		Atlanta	GA	2001	935	296	93%	933	1.00
Camden Peachtree City		Peachtree City	GA	2001	1,027	399	94%	839	0.82
Camden River		Duluth	GA	1997	1,103	352	95%	828	0.75
Camden Shiloh		Kennesaw	GA	1999/2002	1,143	232	96%	805	0.70
Camden St. Clair		Atlanta	GA	1997	999	336	95%	859	0.86
Camden Stockbridge		Stockbridge	GA	2003	1,009	304	91%	729	0.72
Camden Sweetwater		Lawrenceville	GA	2000	1,151	308	91%	701	0.61
	TOTAL GEORGIA	10	Properties		1,042	3,202	94%	835	0.80

Camden Brookside (1)		Louisville	KY	1987	732	224	96%	648	0.88
Camden Meadows (1)		Louisville	KY	1987/1990	746	400	96%	673	0.90
Camden Oxmoor (1)		Louisville	KY	2000	903	432	96%	820	0.91
Camden Prospect Park (1)		Louisville	KY	1990	916	138	94%	763	0.83
	TOTAL KENTUCKY	4	Properties		820	1,194	96%	732	0.89

Camden Passage (1)		Kansas City	MO	1989/1997	834	596	92%	642	0.77
	Total Kansas City	1	Property		834	596	92%	642	0.77

Camden Cedar Lakes (1)		Lake St. Louis	MO	1986	852	420	94%	617	0.72
Camden Cove West (1)		Creve Coeur	MO	1990	828	276	96%	821	0.99
Camden Cross Creek (1)		St. Louis	MO	1973/1980	947	591	95%	742	0.78
Camden Westchase (1)		St. Louis	MO	1986	945	160	97%	846	0.90
	Total St. Louis	4	Properties		896	1,447	95%	733	0.82

	TOTAL MISSOURI	5	Properties		878	2,043	94%	706	0.80

Camden Bel Air		Las Vegas	NV	1988/1995	943	528	93%	737	0.78
Camden Breeze		Las Vegas	NV	1989	846	320	93%	730	0.86
Camden Canyon		Las Vegas	NV	1995	987	200	95%	866	0.88
Camden Commons		Henderson	NV	1988	936	376	93%	752	0.80
Camden Cove		Las Vegas	NV	1990	898	124	92%	742	0.83
Camden Del Mar		Las Vegas	NV	1995	986	560	94%	895	0.91
Camden Fairways		Henderson	NV	1989	896	320	95%	870	0.97
Camden Hills		Las Vegas	NV	1991	439	184	88%	520	1.18
Camden Legends		Henderson	NV	1994	792	113	92%	827	1.04
Camden Palisades		Las Vegas	NV	1991	905	624	92%	742	0.82
Camden Pines (1)		Las Vegas	NV	1997	982	315	94%	787	0.80
Camden Pointe		Las Vegas	NV	1996	983	252	94%	755	0.77
Camden Summit (1)		Henderson	NV	1995	1,187	234	95%	1,084	0.91
Camden Tiara (1)		Las Vegas	NV	1996	1,043	400	94%	848	0.81
Camden Vintage		Las Vegas	NV	1994	978	368	90%	722	0.74
Oasis Bay (1)		Las Vegas	NV	1990	876	128	97%	761	0.87
Oasis Crossing (1)		Las Vegas	NV	1996	983	72	93%	783	0.80
Oasis Emerald (1)		Las Vegas	NV	1988	873	132	91%	653	0.75
Oasis Gateway (1)		Las Vegas	NV	1997	1,146	360	93%	800	0.70
Oasis Island (1)		Las Vegas	NV	1990	901	118	93%	653	0.72
Oasis Landing (1)		Las Vegas	NV	1990	938	144	93%	697	0.74
Oasis Meadows (1)		Las Vegas	NV	1996	1,031	383	91%	737	0.71
Oasis Palms (1)		Las Vegas	NV	1989	880	208	90%	680	0.77
Oasis Pearl (1)		Las Vegas	NV	1989	930	90	93%	732	0.79
Oasis Place (1)		Las Vegas	NV	1992	440	240	88%	524	1.19
Oasis Ridge (1)		Las Vegas	NV	1984	391	477	87%	434	1.11
Oasis Sierra (1)		Las Vegas	NV	1998	923	208	92%	796	0.86
Oasis Springs (1)		Las Vegas	NV	1988	838	304	92%	610	0.73
Oasis Vinings (1)		Las Vegas	NV	1994	1,152	234	89%	747	0.65
	TOTAL NEVADA	29	Properties		903	8,016	92%	743	0.82

CAMDEN

COMMUNITY TABLE

Community Statistics as of 9/30/10

(Unaudited)

3Q10 Avg

Year Placed

Average

Apartment

3Q10 Avg

Monthly Rental Rates

Community Name

City

State

in Service

Size

Homes

Occupancy

Per Home

Per Sq. Ft.

Camden Ballantyne		Charlotte	NC	1998	1,045	400	96%	809	0.77
Camden Cotton Mills		Charlotte	NC	2002	905	180	98%	1,032	1.14
Camden Dilworth		Charlotte	NC	2006	857	145	98%	1,034	1.21
Camden Fairview		Charlotte	NC	1983	1,036	135	95%	748	0.72
Camden Forest		Charlotte	NC	1989	703	208	89%	546	0.78
Camden Foxcroft		Charlotte	NC	1979	940	156	96%	699	0.74
Camden Grandview		Charlotte	NC	2000	1,057	266	96%	1,147	1.09
Camden Habersham		Charlotte	NC	1986	773	240	96%	589	0.76
Camden Park Commons		Charlotte	NC	1997	861	232	93%	628	0.73
Camden Pinehurst		Charlotte	NC	1967	1,147	407	95%	711	0.62
Camden Sedgebrook		Charlotte	NC	1999	972	368	96%	735	0.76
Camden Simsbury		Charlotte	NC	1985	874	100	97%	679	0.78
Camden South End Square		Charlotte	NC	2003	882	299	94%	945	1.07
Camden Stonecrest		Charlotte	NC	2001	1,098	306	94%	850	0.77
Camden Touchstone		Charlotte	NC	1986	899	132	95%	699	0.78
	Total Charlotte	15	Properties		961	3,574	95%	794	0.83

Camden Crest		Raleigh	NC	2001	1,013	438	94%	736	0.73
Camden Governor's Village		Chapel Hill	NC	1999	1,046	242	96%	812	0.78
Camden Lake Pine		Apex	NC	1999	1,066	446	95%	754	0.71
Camden Manor Park		Raleigh	NC	2006	966	484	96%	802	0.83
Camden Overlook		Raleigh	NC	2001	1,060	320	96%	850	0.80
Camden Reunion Park		Apex	NC	2000/2004	972	420	95%	664	0.68
Camden Westwood		Morrisville	NC	1999	1,027	354	93%	725	0.71
	Total Raleigh	7	Properties		1,017	2,704	95%	758	0.75

	TOTAL NORTH CAROLINA	22	Properties		985	6,278	95%	779	0.79

Camden Valleybrook		Chadds Ford	PA	2002	992	352	94%	1,271	1.28
	TOTAL PENNSYLVANIA	1	Property		992	352	94%	1,271	1.28

Camden Amber Oaks (1)		Austin	TX	2009	862	348	95%	772	0.90
Camden Cedar Hills		Austin	TX	2008	911	208	94%	925	1.02
Camden Gaines Ranch		Austin	TX	1997	955	390	95%	920	0.96
Camden Huntingdon		Austin	TX	1995	903	398	96%	702	0.78
Camden Laurel Ridge		Austin	TX	1986	702	183	89%	569	0.81
Camden Ridgecrest		Austin	TX	1995	855	284	96%	652	0.76
Camden South Congress (1)		Austin	TX	2001	975	253	94%	1,299	1.33
Camden Stoneleigh		Austin	TX	2001	908	390	96%	848	0.93
	Total Austin	8	Properties		894	2,454	95%	834	0.93

Camden Breakers		Corpus Christi	TX	1996	868	288	94%	889	1.03
Camden Copper Ridge		Corpus Christi	TX	1986	775	344	93%	671	0.87
Camden Miramar (2)		Corpus Christi	TX	1994-2004	482	778	66%	959	1.99
	Total Corpus Christi	3	Properties		632	1,410	93%	875	1.38

Camden Addison (1)		Addison	TX	1996	942	456	94%	766	0.81
Camden Buckingham		Richardson	TX	1997	919	464	96%	758	0.82
Camden Centreport		Ft. Worth	TX	1997	911	268	95%	759	0.83
Camden Cimarron		Irving	TX	1992	772	286	95%	754	0.98
Camden Farmers Market		Dallas	TX	2001/2005	932	904	95%	848	0.91
Camden Gardens		Dallas	TX	1983	652	256	95%	518	0.79
Camden Glen Lakes		Dallas	TX	1979	877	424	95%	720	0.82
Camden Legacy Creek		Plano	TX	1995	831	240	96%	803	0.97
Camden Legacy Park		Plano	TX	1996	871	276	97%	814	0.93
Camden Oasis (3)		Euless	TX	1986	548	602	77%	519	0.95
Camden Springs		Dallas	TX	1987	713	304	93%	536	0.75
Camden Valley Creek		Irving	TX	1984	855	380	93%	627	0.73
Camden Valley Park		Irving	TX	1986	743	516	93%	688	0.93
Camden Valley Ridge		Irving	TX	1987	773	408	92%	568	0.74
Camden Westview		Lewisville	TX	1983	697	335	91%	581	0.83
	Total Dallas/Ft. Worth	15	Properties		808	6,119	93%	692	0.86

CAMDEN

COMMUNITY TABLE

Community Statistics as of 9/30/10

(Unaudited)

3Q10 Avg

Year Placed

Average

Apartment

3Q10 Avg

Monthly Rental Rates

Community Name

City

State

in Service

Size

Homes

Occupancy

Per Home

Per Sq. Ft.

	Belle Meade (1) (4)		Houston	TX	2010	1,414	119	Lease-up	2,581	1.83
	Braeswood Place (1) (4)		Houston	TX	2009	1,042	340	Lease-up	1,377	1.32
	Camden Baytown		Baytown	TX	1999	844	272	86%	786	0.93
	Camden City Centre		Houston	TX	2007	932	379	92%	1,259	1.35
	Camden Creek		Houston	TX	1984	639	456	91%	577	0.90
	Camden Greenway		Houston	TX	1999	861	756	96%	1,013	1.18
	Camden Holly Springs (1)		Houston	TX	1999	934	548	94%	867	0.93
	Camden Midtown		Houston	TX	1999	844	337	95%	1,173	1.39
	Camden Oak Crest		Houston	TX	2003	870	364	94%	809	0.93
	Camden Park (1)		Houston	TX	1995	866	288	94%	770	0.89
	Camden Plaza (1)		Houston	TX	2007	915	271	94%	1,213	1.33
	Camden Royal Oaks		Houston	TX	2006	923	236	90%	1,107	1.20
	Camden Steeplechase		Houston	TX	1982	748	290	88%	624	0.83
	Camden Stonebridge		Houston	TX	1993	845	204	95%	784	0.93
	Camden Sugar Grove (1)		Stafford	TX	1997	921	380	95%	887	0.96
	Camden Travis Street (1)		Houston	TX	2010	819	253	96%	1,249	1.53
	Camden Vanderbilt		Houston	TX	1996/1997	863	894	96%	1,107	1.28
	Camden Whispering Oaks		Houston	TX	2008	934	274	91%	968	1.04
	Camden Yorktown (1)		Houston	TX	2008	995	306	96%	806	0.81
		Total Houston	19	Properties		883	6,967	94%	1,000	1.13

		TOTAL TEXAS	45	Properties		837	16,950	94%	855	1.02

TOTAL PROPERTIES			186	Properties		919	63,964	94%	$927	$1.01

(1)	Communities owned through investment in joint venture.
(2)	Miramar is a student housing community which is excluded from total occupancy numbers.
(3)	Community held for sale as of September 30, 2010.
(4)	Completed communities in lease-up as of September 30, 2010 are excluded from total occupancy numbers.