Colony Starwood Homes Partnership, L.P., a wholly-owned subsidiary of Colony Starwood Homes, entered into a new credit agreement with JPMorgan Chase Bank, N.A., as administrative agent and the other parties thereto.

The credit agreement provides for a $675.0 million senior secured revolving credit facility, which will mature on April 27, 2020, with a one-year extension option subject to certain conditions. The Facility was undrawn as of the effective date. Loans and letters of credit are available under the Facility, subject to customary conditions, for working capital and other general corporate purposes, including acquisitions and debt refinancing.

The credit agreement includes an accordion feature to increase the size of the Facility to up to $1.2 billion, subject to satisfying certain requirements and obtaining lender commitments.

The company concurrently terminated its two existing secured revolving credit facilities: the Amended and Restated Master Loan and Security Agreement dated June 13, 2014, among Starwood Waypoint Borrower, LLC and other subsidiaries, Citibank, N.A., as administrative agent the lenders party thereto, and the Second Amended and Restated Revolving Credit Agreement, dated as of July 14, 2015, among ColFin AH Finance Masterco, LLC and other subsidiaries, JPMorgan, as administrative agent, and the lenders party thereto.