Exhibit 99.1

 

PRESS RELEASEFOR IMMEDIATE RELEASE

Omaha, Nebraska

 

March 3, 2016

 

CONTACT:   Craig Allen

Chief Financial Officer

(800) 283-2357

 

 

 

 

America First Multifamily Investors, L.P. Reports Net Income Per Unit of $0.14 and Cash Available for Distribution of $0.19 per Unit in Fourth Quarter 2015 and Cash Available for Distribution of $0.53 Per Unit for Year Ended December 31, 2015

 

Omaha, Nebraska – On March 3, 2016, America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) reported operating results for the fourth quarter and the full year ended December 31, 2015.  The Partnership also reported fourth quarter 2015 Cash Available for Distribution (”CAD”) of $0.19 per unit and $0.53 per unit for the year ended December 31, 2015.  Total revenue increased to $20.8 million in the fourth quarter 2015, compared to $11.7 million in the fourth quarter 2014, and increased to $64.6 million for the year ended December 31, 2015, compared to $45.6 million for the year ended December 31, 2014.    

 

The Partnership reported the following notable transactions during the fourth quarter of 2015:

 

 

·

Purchased eight mortgage revenue bonds for approximately $50.2 million par value which are collateralized by five multifamily residential properties containing a total of 709 units,

 

·

Earned approximately $4.8 million in Tier 2 contingent interest income and approximately $1.5 million in loan interest income due to the sale of its two remaining Consolidated VIEs which eliminated the Consolidated VIE segment,

 

·

Purchased land for approximately $2.9 million which will be held for investment and development,

 

·

Through a newly created subsidiary, committed to loan approximately $17.0 million to build two new multifamily residential properties containing a total of 576 units, and

 

·

Borrowed approximately $12.5 million on the line of credit and executed two new TOB Trusts for a total of $23.4 million.

The Partnership also reported the following notable transactions that have occurred thus far in the first quarter of 2016:

 

 

·

Entered into a First and Second Amendment to the Credit Agreement with Bankers Trust.  The First Amendment revises the definitions and reporting requirements and the Second Amendment increases the

 


The following information was filed by America First Multifamily Investors, L.P. (ATAX) on Thursday, March 3, 2016 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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