Exhibit 99.1

 

PRESS RELEASEFOR IMMEDIATE RELEASE

Omaha, Nebraska

 

February 26, 2020

 

CONTACT:   Jesse Coury

Chief Financial Officer

(855) 428-2951

 

America First Multifamily Investors, L.P. Reports Total Revenues of $15.4 Million in Fourth Quarter 2019

 

Omaha, Nebraska – On February 26, 2020, America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership” or “ATAX”) reported the following results:

 

As of and for the three months ended December 31, 2019:

 

 

Total revenues of approximately $15.4 million,

 

Net income, basic and diluted, of $0.16 per Beneficial Unit Certificate (“BUC”),

 

Cash Available for Distribution (“CAD”) of $0.18 per BUC,

 

Total assets of $1.0 billion, and

 

Total Mortgage Revenue Bond (“MRB”) investments of approximately $773.6 million.

 

For the year ended December 31, 2019:

 

 

Total revenues of approximately $62.3 million,

 

Net income, basic and diluted, of $0.42 per BUC, and

 

CAD of $0.57 per BUC.

 

In December 2019, Vantage at Boerne was sold by its managing member and ATAX’s equity investment was repaid. ATAX originally invested in this multifamily, market-rate project in October 2016. The sale of the 288-unit project resulted in:

 

 

Repayment, in full, of ATAX’s equity investment of approximately $7.4 million,

 

Recognition of approximately $1.2 million of additional investment income, and

 

Recognition of approximately $5.7 million as gain on sale of investment in an unconsolidated entity.

 

“The sale of Vantage at Boerne represents the fifth redemption of our investment in Vantage projects,” said Chad Daffer, Chief Executive Officer of ATAX.  “Our investments in Vantage projects continue to be an important component of ATAX’s investment strategy and has benefitted our Unitholders since its inception.”

 

 

 


The following information was filed by America First Multifamily Investors, L.P. (ATAX) on Wednesday, February 26, 2020 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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