Exhibit 99.1

  

PRESS RELEASEFOR IMMEDIATE RELEASE

Omaha, Nebraska

 

May 7, 2018

 

CONTACT:   Craig Allen

Chief Financial Officer

(800) 283-2357

 

America First Multifamily Investors, L.P. Reports Increase in Total Revenue to $16.5 million in First Quarter 2018

 

Omaha, Nebraska – On May 7, 2018, America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) reported the following results for the first quarter ended March 31, 2018:

 

 

Total assets of $1.03 billion;

 

Total Mortgage Revenue Bond investments of $756.0 million;

 

Total revenue of $16.5 million;

 

Net income, basic and diluted, of 0.09 per Unit; and

 

Cash Available for Distribution of $0.10 per Unit.

 

The Partnership reported the following notable transactions during the first quarter of 2018:

 

 

Increased its Investment in unconsolidated entities by $12.3 million;

 

Redemptions of three Mortgage Revenue Bonds for approximately $10.4 million; and

 

Entered into a Commercial Purchase and Sale Agreement to sell its Jade Park MF Property.

 

During the first quarter 2018, the Partnership increased its total revenue to $16.5 million, from $16.0 million in the first quarter 2017.  The increase was predominantly due to an increase of approximately $1.9 million in investment income., which was partially offset by a reduction in property revenues due to MF Property sales during 2017.  “We are pleased with the performance of our investments and the increase in income we have reported.” said Chad Daffer, Chief Executive Officer of America First Multifamily Investors, L.P.  

 

In December 2017, the Partnership initiated an At the Market (“ATM”) offering to sell up to $75.0 million of Beneficial Unit Certificates (“BUCs”) at prevailing market prices on the date of sale.  The Partnership sold an additional 38,617 BUCs under the ATM Program for net proceeds of approximately $192,000, net of issuance costs, in January 2018.  On March 16, 2018, the Partnership terminated the ATM offering.  

 

“We are pleased with the results of the ATM offering,” said Chad Daffer, Chief Executive Office of America First Multifamily Investors, L.P.  “This provides the Partnership with another option in its liquidity stack and allows us to raise capital without price dilution and at substantially reduced issuance costs.”

  

 

 

 


The following information was filed by America First Multifamily Investors, L.P. (ATAX) on Monday, May 7, 2018 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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