Exhibit 99.1

 

PRESS RELEASE  FOR IMMEDIATE RELEASE

Omaha, Nebraska

 

August 6, 2018

 

CONTACT:

Craig Allen

Chief Financial Officer

(800) 283-2357

 

America First Multifamily Investors, L.P. Reports Total Revenues of $15.8 million in Second Quarter 2018

 

Omaha, Nebraska – On August 6, 2018, America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) reported the following results for the second quarter ended June 30, 2018:

 

 

Total assets of $1.02 billion;

 

Total Mortgage Revenue Bond (“MRB”) investments of $767.6 million;

 

Total revenue of $15.8 million;

 

Net income, basic and diluted, of $0.04 per Unit; and

 

Cash Available for Distribution of $0.09 per Unit.

  

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

 

 

Acquired an MRB investment for approximately $19.5 million;

 

Increased its Investment in unconsolidated entities by $6.8 million; and

 

Redemption of four MRBs for approximately $11.0 million.

 

During the second quarter 2018, the Partnership acquired one MRB investment with a principal value of approximately $19.5 million.  The 322-unit multifamily property is located in San Antonio.  In addition, four MRBs totaling approximately $11.0 million were redeemed during the second quarter of 2018.  Upon redemption, the Partnership collapsed and paid off, in full, Term A/B Trusts with carrying values, plus accrued interest, of approximately $7.7 million.  

  

Disclosure Regarding Non-GAAP Measures

 

This report refers to Cash Available for Distribution (“CAD”), which is identified as a non-GAAP financial measure.  The Partnership utilizes CAD as a means to determine our ability to make distributions to unitholders.  We believe CAD provides relevant information about our operations and is necessary along with net income for understanding our operating results.  Net income is the GAAP measure most comparable to CAD.  There is no generally accepted methodology for computing CAD, and our computation of CAD may not be comparable to CAD reported by other companies.  Although we consider CAD to be a useful measure of our operating performance, CAD is a non-GAAP measure and should not be considered as an alternative to net income or net cash flows from operating activities which are calculated in accordance with GAAP, or any other measures of financial performance or liquidity presented in


The following information was filed by America First Multifamily Investors, L.P. (ATAX) on Monday, August 6, 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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