Colony American enters $500 million credit facility with J.P. Morgan

By Jennifer Chiou

New York, Sept. 4 - Colony American Homes announced that it has closed on its $500 million credit facility with a $500 million accordion feature through J.P. Morgan.

According to a news release, the company will use the proceeds to continue to acquire single-family homes across the United States.

"The ability to easily expand the credit facility as we grow is also attractive and provides for future growth capability as well," chief executive officer Justin Chang said in the release.

Based in Scottsdale, Ariz., the company is focused on the acquisition, ownership, renovation, leasing and management of single-family residential homes.

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