According to Law360, American Residential Properties Inc., a real estate investment trust, is scouring the market for single-family homes and it has some money to spend.

American Residential now has $290 million in dry powder, up from its old limit of $150 million, according to a regulatory filing. The loan, which is administered by Bank of America NA and syndicated to a handful of lenders, also includes an “accordion” feature that boosts the borrowing power lower than $500 million.