CALIFORNIA — Real estate investment trust Camden Property Trust has put its 11 multifamily properties in California on the market, according to marketing materials circulated by real estate services firm JLL.

The portfolio includes roughly 3,600 apartment units spread across major Southern California markets, including Los Angeles‑Orange County and the San Diego‑Inland Empire region. 

The offering could command in excess of $1.5 billion if a buyer is secured.

Camden is one of the largest publicly traded multifamily landlords in the United States, with interests in more than 170 properties and nearly 59,000 apartment homes nationwide as of late 2025.

Its portfolio is concentrated in high-growth markets, including Houston, Atlanta, Charlotte, Phoenix, and Washington, D.C.

By listing its California portfolio for sale, Camden appears to be reducing its exposure to one of the nation’s most expensive and highly regulated housing markets.

Industry analyst Haendel St. Juste said Camden has “documented its frustration” with the state’s rules, pandemic-era rent policies, and tenant behavior. 

Reducing exposure, he said, would be a net positive for its long-term strategy.

Camden buying back stock with proceeds

Camden Property Trust isn’t just selling its California apartments — it plans to use the proceeds to repurchase its own stock. 

The company’s CEO, Ric Campo, said buybacks currently offer higher returns than acquiring new properties, and selling these assets would generate cash to fund share repurchases as part of its long‑term strategy.

Other national apartment owners with significant California holdings have also reshuffled their portfolios.

Last year, Equity Residential sold nine apartment properties, including Chula Vista’s Teresina Apartments, purchased by Nuveen for $180 million. 

Meanwhile, the company expanded its Sun Belt footprint, acquiring an eight-property, 2,064-unit Atlanta portfolio for $535 million.

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