American Residential Properties, Inc. announced that it has amended and restated the credit agreement governing its senior secured revolving credit facility, increasing its maximum borrowing amount from $150 million to $290 million.  In addition, the amended and restated credit agreement has an accordion feature that increases the maximum borrowing amount to $500 million, subject to meeting certain criteria and obtaining additional commitments from lenders. All other terms remain substantially the same as in the original credit agreement entered into in January 2013, as amended.

"We are extremely pleased with the continued strong support from our bank group," said Stephen G. Schmitz, Chairman and Chief Executive Officer of American Residential Properties, Inc. "Access to capital is critical to building scale in the single-family rental sector and our longstanding relationships with the lending community continue to be a key competitive advantage for American Residential Properties. With our expanded credit facility, we will be able to continue to strategically grow our portfolio and invest in our operating platform to create value for our shareholders."

Under the amended and restated credit agreement: Bank of America, N.A. serves as Administrative Agent, Letters of Credit Issuer and as a Lender; Merrill Lynch, Pierce, Fenner & Smith Incorporated serves as Sole Bookrunner and Sole Lead Arranger; Morgan Stanley Senior Funding, Inc. serves as Syndication Agent and as a Lender; and KeyBank National Association serves as Documentation Agent and as a Lender. The following banks also serve as Lenders under the Credit Agreement: Barclays Bank PLC, Jefferies Group, Inc., Raymond James Bank, N.A. and Comerica Bank.

American Residential Properties, Inc. is an internally managed real estate company, organized as a REIT for federal income tax purposes that acquires, owns, and manages single-family homes as rental properties in select communities nationwide.