American Residential adds dry powder to credit line

|About: American Residential Pro... (ARPI)|By:, SA News Editor

American Residential Properties (ARPI) boosts its available financing by $40M to $380M, adding JPMorgan as a lender in its credit facility. The accordion feature allows future expansion all the way up to $500M.

"We are very pleased that another major bank has recognized the attractive economics of the single-family rental market and committed to providing additional capital that we can utilize to further grow our portfolio and create long-term value for our shareholders," says COO Laurie A. Hawkes.