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September 26, 2006

By Sule Aygoren Carranza

At a recent CEO roundtable hosted by Bank of America, the heads of three of the biggest apartment REITs expressed optimism that the industry will continue to grow through 2006 and into 2007. David Neithercut, president and CEO of Equity Residential in Chicago, Ric Campo, Houston-based Camden Properties Trust's chairman and chief executive officer, and Tom Toomey, president and CEO of United Dominion Realty Trust Inc. of Richmond, VA, agreed that while they won't likely see double-digit growth in net operating income in some areas, growth in the high single digits should be the norm, at least through next spring.

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