Exhibit 99.1
AMERICAN RESIDENTIAL PROPERTIES, INC. REPORTS
FOURTH QUARTER AND FULL YEAR 2013 FINANCIAL RESULTS
SCOTTSDALE, AZ, March 12, 2014 — American Residential Properties, Inc. (NYSE: ARPI) (the “Company”) reported today results for the quarter and full year ended December 31, 2013.
Fourth Quarter 2013 Summary
Invested $104 million to acquire 633 single-family homes, a 15% increase in our aggregate investment and a 12% increase in number of homes owned compared to the prior quarter.
Increased the number of leased properties by 458 properties, or 11%, compared to the prior quarter.
Achieved an occupancy rate of 75% on the total portfolio and 86% on properties owned six months or longer.
Increased rents by an average of 3.4% on renewals.
Funded $18 million in short-term private mortgage loans.
Owned $42 million in short-term private mortgage loans with a weighted-average interest rate of 11.8%.
Total revenue was $13.2 million, an increase of 20%, compared to the prior quarter.
Core FFO attributable to common stockholders was break-even.
FFO attributable to common stockholders was $(0.8) million, or $(0.03) per diluted share.
Financial results include $1.8 million in reduced revenue and additional charges related to the default and subsequent lease termination with a preferred operator and $0.4 million in severance related charges.
Successfully issued and sold $115 million 3.25% exchangeable senior notes due 2018.
Full Year 2013 Summary
Invested $582 million to acquire 4,298 single-family homes.
Owned a portfolio of 6,073 single-family homes located in 13 states for a total investment of $802 million.
Core FFO attributable to common stockholders was $5.1 million, or $0.19 per diluted share.
FFO attributable to common stockholders was $(3.5) million, or $(0.13) per diluted share.
Ratio of total debt to total gross assets was 31% as of year-end.
Amended and restated our revolving credit facility expanding our bank group and increasing the maximum borrowing capacity to $380 million, with an accordion feature that permits increasing capacity to $500 million.
Successfully completed the Company's IPO for net proceeds of $265 million.
“We had an outstanding year in 2013 and made tremendous progress in expanding our robust platform for long-term success in the single-family rental market,” said Stephen G. Schmitz, Chairman and Chief Executive Officer of American Residential Properties, Inc. “We increased the number of homes in our portfolio by more than 240% during the year, which required us to refine and enhance the processes, systems and procedures needed to effectively manage these assets. The strong internal capabilities we developed enabled us to restore more than 3,500 homes, sign leases on more than 2,300 homes and renew more than 700 existing leases during the year.  As a result of our increasingly efficient operating platform, we have been able to quickly convert our acquisitions into cash flowing assets."

“During the fourth quarter, we continued to execute our core growth strategies and build depth within our targeted markets. However, our bottom line results were negatively impacted by the default of one of our preferred operators. We have terminated our Master Leases with this operator and assumed management of these Company-owned properties within our self-managed portfolio."
 
“We expect 2014 to be another year of strong growth in the portfolio and increasing profitability as we continue to improve efficiencies. We have recently retained Deutsche Bank to serve as our lead banker to assist in structuring and negotiating a securitization transaction. Raising capital through a securitization is expected to provide in excess of $300 million in medium-term debt, reduce our cost of capital and enable us to continue funding our acquisition strategy in 2014,” said Mr. Schmitz.


1

The following information was filed by American Residential Properties, Inc. (ARPI) on Wednesday, March 12, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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