In 1999, FFO had totaled 81-cents per diluted share or $38.4 million. Year-to-date, Camden's FFO is $2.60 per diluted share or $116.4 million, compared to $2.37 per share or $113.7 million in 1999, an increase of 10.1%. This year's third-quarter revenues total $102.4 million in comparison to $94.2 million for third quarter 1999. For the nine months ended September 30, 2000, revenues are $302.4 million, up from $274.4 million for the comparable period of 1999.

Occupancy levels have averaged 94.6% during the quarter, up from 93.7% from the previous quarter and 94% in last year's third quarter. For the 38,417 apartment homes included in the third quarter "same-property" results, revenues increased 3.9% while operating expenses increased 0.7%, producing a 6% increase in same-property net operating income (NOI). Year-to-date, same property NOI grew 4.5%, with revenue growth of 3.3% and expense growth of 1.2%.

Keith Oden, Camden's COO and president, predicts a strong fourth quarter as the market gains momentum. "Clearly, we have turned the corner in Houston," he says.

Camden Property Trust owns interests in and operates 145 properties containing 51,336apartment homes in the Sunbelt and Midwestern markets from Florida to California. The company has two multifamily developments under way that will take its portfolio to 52,336 units in 147 properties.