Camden Property Trust (NYSE:CPT) Q2 2023 Earnings Call Transcript

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And the good news is, is that cycle has happened over the last – multiple times over the last 30 years. And we continue to do really well long-term in this business.

Ami Probandt: Okay. And then just a quick one. If you were to start a development project today, what would be the yields that you would target?

Ric Campo: So we have a development pipeline today and the projects we’re starting all have roughly 6% sort of cash flows with an IRR that’s 7.75% to 8%, 8.5% something like that.

Ami Probandt: Okay. Thank you.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Ric Campo for any closing remarks.

Ric Campo: We appreciate you being on the call today and supporting Camden for now over 30 years. We’ll look forward to the start of the fall conference season and we’ll see you soon. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may not disconnect.

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