A namesake executive of Camden Property Trust will retire at the end of the month.

Keith Oden, executive vice chairman of the board for the Houston-based multifamily REIT, will retire from his executive capacity on Aug. 31, the company announced in a press release. He will remain a member of the Board of Trust Managers. 

Camden was named for Oden and Ric Campo, the co-founders of the company. Campo still serves as executive chairman of the board but stepped down as CEO in March. Alex Jessett was named the REIT’s second-ever CEO.

Other leadership changes in March included Laurie Baker's promotion to president and chief operating officer and Ben Fraker's promotion to executive vice president, chief financial officer and treasurer. The two have been with Camden since 1999 and 2000, respectively.

Jessett joined the company in 1999 and worked alongside Oden for 27 years. 

“I look forward to continuing to work closely with Keith in his capacity as a valued member of our Board,” Jessett said in a statement. “His lasting legacy will forever be our unwavering commitment to improving the lives of our team members, customers, and stakeholders, one experience at a time.”

Campo and Oden began working together in 1981, and Campo said he couldn’t have asked for a better partner and friend to build the company.

“Keith pairs sharp intellect with a real gift for detail, but what sets him apart is how deeply he cares: about helping people find a great place to live and about building a great place to work,” Campo said in a statement.

Camden Property Trust, one of the country’s largest publicly traded multifamily REITs, develops, owns and operates apartments. It has a portfolio of more than 56,000 units across 15 U.S. markets, primarily in the Sun Belt.

The REIT disclosed last week that it sold its 11-property California portfolio for $1.6B. This comes about seven months after announcing plans to exit the state, where Campo said it allocated 92% of the company’s money spent on political efficacy over the past five years.