Camden Property Trust Completes Largest U.S Multifamily Sale Since 2024

Camden Property Trust Completes Largest U.S Multifamily Sale Since 2024
News| August 5, 2026| Paul Bubny
California & West + Apartment Buildings


JLL Capital Markets said Wednesday it had arranged the $1.625-billion sale and financed a significant portion of the portfolio of an 11-property, 3,620-unit multifamily portfolio spanning Southern California’s most supply-constrained submarkets. The transaction by Camden Property Trust represents the largest U.S. apartment sale since 2024, according to JLL. The buyer was a BlackRock-managed vehicle.

The portfolio represents 16.5% of Southern California’s five-year average annual transaction volume by unit count in markets traditionally characterized by long-term ownership strategies. Properties in the portfolio include The Camden in Hollywood’s entertainment district; Camden Crown Valley, a 380-unit community in Mission Viejo; Camden Landmark, a 469-unit offering controlling 5% of Ontario’s entire market-rate inventory over 100 units; and Camden Hillcrest, a 132-unit boutique community delivered in 2021 in San Diego’s Hillcrest neighborhood.

JLL’s Capital Markets’ Sales and Advisory team was led by senior managing director and Multi-Housing Platform leader Blake A. Rogers, managing directors Alexandra Caniglia and Kip Malo and senior director Dillon Bergum. The Debt Advisory team, led by Capital Markets president Kevin Mackenzie, managing directors Annie Rice and Brandon Smith, director Gyasi Edmondson and associate Alyssa Malley. arranged $566.6 million in agency acquisition financing on behalf of the buyer, secured by seven of the portfolio’s assets.

The five-year fixed-rate loan is full-term interest only and was structured on an uncrossed basis, so each asset retains independent sale and refinance optionality. Carveouts were negotiated at the borrower level only, limiting liability for the upstream investors.

“The significant investor demand for these best-in-class assets in supply-constrained markets underscores the strength of Southern California fundamentals, leading to significant liquidity at scale,” said Rogers.

If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA. 

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