WASHINGTON (dpa-AFX) - Camden Property Trust (CPT) has priced a public offering of 5.75 million shares at a price to the public of $59.60 per share. The offering is expected to close on January 18, 2012. Credit Suisse, Deutsche Bank Securities and UBS Investment Bank, the joint book-running managers for the offering, have been granted a 30-day option to buy up to an additional 862,500 shares.
The company plans to use the net proceeds to fund the purchase of the 80% interest not currently owned by Camden in 12 related joint ventures and the repayment of the mortgage debt secured by properties owned by these joint ventures.
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