America First Multifamily Investors, L.P. Provides Updates on Investment Portfolio

OMAHA, Neb., Sept. 14, 2020 (GLOBE NEWSWIRE) -- America First Multifamily Investors, L.P. (NASDAQ:  ATAX) (the “Partnership” or “ATAX”) today announced the following updates through the close of business on September 11, 2020:

• The Partnership has received no notice of delinquencies of contractual principal and interest payments related to its mortgage revenue bonds.

• Properties securing the Partnership’s mortgage revenue bond portfolio reported average rental collections rates of 91% for August 2020 rental payments.

• The Partnership has received no requests for forbearance of contractual principal and interest payments from borrowers associated with multifamily mortgage revenue bonds.

• All Vantage properties with available units achieved increasing occupancy during July and August 2020.

• The Vantage properties under construction have not experienced material supply chain disruptions for either construction materials or labor to date.

• The University of Nebraska-Lincoln is currently holding on-campus, in-person classes and residence halls are open. The Partnership’s 50/50 MF Property, which is located adjacent to the University of Nebraska-Lincoln campus, is 88% occupied.

• San Diego State University recently announced it will hold primarily virtual classes through Spring 2021, but residence halls remain open at a reduced capacity. The Partnership’s Suites on Paseo MF Property, which is located adjacent to the San Diego State University campus, is 62% occupied.

 “This update shows the consistency we continue to see across our mortgage revenue bond and Vantage investment segments,” said Chad L. Daffer, the Partnership’s Chief Executive Officer. “We are working closely with on-site teams at our MF Properties to improve occupancy and operations based on the local circumstances. We will continue to monitor and assess operational and collection results at all our investment properties given the evolving developments as a result of COVID-19,” said Daffer.

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.