PHOENIX—American Residential Properties, Inc.has amended the credit agreement governing its senior securedrevolving credit facility, to, among other things, increase themaximum borrowing amount from $380 million to $500 million. Inaddition, the amendment agreed to by the lenders increased the sizeof the accordion feature to a maximum borrowing amount of $750million. The accordion feature is subject to meeting certaincriteria and obtaining additional commitments from lendersBank of America, N.A., Deutsche BankAG, New York Branch, CitibankN.A., JPMorgan Chase Bank, N.A.,Morgan Stanley Senior Funding, Inc.,KeyBank National Association, BarclaysBank PLC, Raymond James Bank, N.A. andComerica Bank.

"This is the third time we have expanded the borrowing capacityof our credit facility since our initial public offering just overa year ago," says Stephen G. Schmitz, chairman andCEO of American Residential Properties, Inc. "This is a testamentto the confidence of our lending group in our progress, strategyand growth prospects. We are delighted to continue to add top-tierbanks to our lending group and to have access to additional debtfinancing, particularly given the attractive borrowing costs intoday's low interest rate environment. As previously announced, weare working on a securitization to further enhance our financingflexibility."