Exhibit 99.1
AMERICAN RESIDENTIAL PROPERTIES, INC. REPORTS
THIRD QUARTER 2014 FINANCIAL RESULTS
SCOTTSDALE, AZ, November 3, 2014 — American Residential Properties, Inc. (NYSE: ARPI) (the “Company”) today reported its results for the quarter ended September 30, 2014.
Third Quarter 2014 Highlights
Increased total revenue by 13% to $23 million compared to the prior quarter.
Raised $341 million in gross proceeds through our securitization of a portfolio of 2,876 single-family homes.
Increased acquisitions by 130% over the prior quarter, acquiring 1,019 single-family homes.
Deployed $178 million to acquire and restore homes during the quarter, up from $86 million during the previous quarter.
14% increase in the number of homes owned compared to the prior quarter, bringing total portfolio to 8,223.
5% increase in the number of leased properties, or 323 properties, compared to the prior quarter.
Achieved an occupancy rate of 93% on stabilized properties and 82% on the total portfolio reflecting the significant increase in vacant properties acquired during the quarter.
Increased rents by an average of 3.4% on renewals with an overall 71% retention rate.
Owned $25 million in short-term private mortgage loans with a weighted-average interest rate of 11.8%.
Core FFO attributable to common stockholders was $3.8 million, or $0.12 per diluted share.
FFO attributable to common stockholders was $2.9 million, or $0.09 per diluted share.


“The third quarter was another strong quarter of performance for American Residential Properties,” said, Stephen G. Schmitz, Chairman and Chief Executive Officer.  With the enhanced financing flexibility from our recently completed securitization, we were able to accelerate our pace of acquisitions this quarter.  We acquired 1,019 single-family homes, more than doubling the number of homes acquired in the previous quarter.  We deployed $178 million, which is well above our $100 million quarterly run rate. Our total portfolio now stands at 8,223 single-family homes for a total investment of approximately $1.2 billion.
 
We continue to see strong demand for our single-family homes and believe our core market strategy to build scale and enhance operational efficiencies is working well. We are also seeing strong increase in renewals, which we attribute to the high quality and attractive locations of our homes in combination with our resident centric approach.  Looking ahead, we plan to continue expanding our presence in these attractive core markets where acquisition opportunities still far exceed the amount of available capital.”
 



The following information was filed by American Residential Properties, Inc. (ARPI) on Tuesday, November 4, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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