America First Multifamily Investors, L.P. Announces Quarterly and Special Distribution
15 December 2021 - 12:15AM
On December 14, 2021, America First Multifamily Investors, L.P.
(NASDAQ: ATAX) (the “Partnership” or “ATAX”) announced that the
Board of Managers of Greystone AF Manager LLC (“Greystone Manager”)
declared a cash distribution to the Partnership’s Beneficial Unit
Certificate (“BUC”) holders of $0.19 per BUC. The distribution
consists of a quarterly distribution of $0.11 per BUC plus a
one-time special distribution of $0.08 per BUC. The distribution is
payable on January 31, 2022 to BUC holders of record as of the
close of trading on December 31, 2021. The BUCs will trade
ex-distribution as of December 30, 2021.
“We are very pleased that the Board declared a
special distribution to close out 2021,” said Kenneth C.
Rogozinski, Chief Executive Officer of ATAX. “Passing along gains
from transactional events, such as Vantage investment sales and
bond redemption premiums, to our BUC holders supports our objective
to provide cash distributions that are reflective of our results of
operations.”
The aggregate amount of the distribution,
including the portion representing the one-time special
distribution, will be approximately $12.6 million, which will be
funded by the Partnership’s available cash-on-hand.
Greystone Manager is the general partner of
America First Capital Associates Limited Partnership Two, the
Partnership’s general partner. Distributions to the Partnership’s
BUC holders are determined by Greystone Manager based on a
disciplined evaluation of the Partnership’s current and anticipated
operating results, financial condition and other factors it deems
relevant. Greystone Manager continually evaluates the factors that
go into BUC holder distribution decisions, consistent with the
long-term best interests of the BUC holders and the
Partnership.
About America First Multifamily Investors,
L.P.
America First Multifamily Investors, L.P. was
formed on April 2, 1998 under the Delaware Revised Uniform Limited
Partnership Act for the primary purpose of acquiring, holding,
selling and otherwise dealing with a portfolio of mortgage revenue
bonds which have been issued to provide construction and/or
permanent financing for affordable multifamily, student housing and
commercial properties. The Partnership is pursuing a business
strategy of acquiring additional mortgage revenue bonds and other
investments on a leveraged basis. The Partnership expects and
believes the interest earned on these mortgage revenue bonds is
excludable from gross income for federal income tax purposes. The
Partnership seeks to achieve its investment growth strategy by
investing in additional mortgage revenue bonds and other
investments as permitted by the Partnership’s Amended and Restated
Limited Partnership Agreement, dated September 15, 2015, taking
advantage of attractive financing structures available in the
securities market, and entering into interest rate risk management
instruments. America First Multifamily Investors, L.P. press
releases are available at www.ataxfund.com.
Safe Harbor Statement
Certain statements in this press release are
intended to be covered by the safe harbor for “forward-looking
statements” provided by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally can be
identified by use of statements that include, but are not limited
to, phrases such as “believe,” “expect,” “future,” “anticipate,”
“intend,” “plan,” “foresee,” “may,” “should,” “will,” “estimates,”
“potential,” “continue,” or other similar words or phrases.
Similarly, statements that describe objectives, plans, or goals
also are forward-looking statements. Such forward-looking
statements involve inherent risks and uncertainties, many of which
are difficult to predict and are generally beyond the control of
the Partnership. The Partnership cautions readers that a number of
important factors could cause actual results to differ materially
from those expressed in, implied, or projected by such
forward-looking statements. Risks and uncertainties include, but
are not limited to: general economic conditions, including the
current and future impact of the novel coronavirus (COVID-19) on
business operations, employment, and government-mandated mitigation
measures; current maturities of the Partnership’s financing
arrangements and the Partnership’s ability to renew or refinance
such financing arrangements; defaults on the mortgage loans
securing the Partnership’s mortgage revenue bonds; the competitive
environment in which the Partnership operates; risks associated
with investing in multifamily and student residential properties
and commercial properties; changes in interest rates; the
Partnership’s ability to use borrowings or obtain capital to
finance its assets; recapture of previously issued Low Income
Housing Tax Credits in accordance with Section 42 of the Internal
Revenue Code; geographic concentration within the mortgage revenue
bond portfolio held by the Partnership; appropriations risk related
to the funding of federal housing programs; changes in the Internal
Revenue Code and other government regulations affecting the
Partnership’s business; and the other risks detailed in the
Partnership’s SEC filings (including but not limited to, the
Partnership’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K). Readers are urged to
consider these factors carefully in evaluating the forward-looking
statements.
If any of these risks or uncertainties
materializes or if any of the assumptions underlying such
forward-looking statements proves to be incorrect, the developments
and future events concerning the Partnership set forth in this
press release may differ materially from those expressed or implied
by these forward-looking statements. You are cautioned not to place
undue reliance on these statements, which speak only as of the date
of this document. We anticipate that subsequent events and
developments will cause our expectations and beliefs to change. The
Partnership assumes no obligation to update such forward-looking
statements to reflect events or circumstances after the date of
this document or to reflect the occurrence of unanticipated events,
unless obligated to do so under the federal securities laws.
MEDIA
CONTACT:
Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com
INVESTOR
CONTACT:
Andy
GrierSenior Vice
President402-952-1235
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