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     130  0 Kommentare America First Multifamily Investors, L.P. Announces Sale of Vantage at Germantown

    OMAHA, Neb., March 30, 2021 (GLOBE NEWSWIRE) -- America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) announced today that on March 26, 2021, Vantage at Germantown, a 288-unit market rate multifamily project located in Memphis, TN, was sold at the direction of the managing member of Vantage at Germantown, LLC (the “Property Owner”). As a result of the sale, the Partnership’s equity investment in the Property Owner was redeemed. At closing of the sale, the Partnership received cash of approximately $16.4 million and will:

    • Recognize investment income of approximately $862,000,
    • Recognize a gain on sale of approximately $3.1 million, before final settlements of proceeds and expenses,
    • Realize approximately $0.05 of net income per Beneficial Unit Certificate (“BUC”), basic and diluted, from the sale in Q1 2021, and
    • Realize Cash Available for Distribution of approximately $0.05 per BUC, basic and diluted, from the sale in Q1 2021.

    “We are very pleased with the outcome of our investment in the Vantage at Germantown property and the resulting returns to our unitholders,” said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership. “This sale, amidst the uncertainties resulting from the COVID-19 pandemic, demonstrates the strength of our partnership with the Vantage team and shows that our investments continue to generate significant returns. We will continue to work with Vantage to identify opportunities for additional investment in this asset class.”

    Disclosure Regarding Non-GAAP Measures

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    This report refers to Cash Available for Distribution (“CAD”), which is identified as a non-GAAP financial measure. We believe CAD provides relevant information about the Partnership’s operations and is necessary, along with net income, for understanding its 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 that is calculated in accordance with GAAP, or any other measures of financial performance presented in accordance with GAAP. For the amounts disclosed herein related to this transaction, there are no reconciling items between net income per BUC, basic and diluted, and CAD per BUC, basic and diluted.

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    America First Multifamily Investors, L.P. Announces Sale of Vantage at Germantown OMAHA, Neb., March 30, 2021 (GLOBE NEWSWIRE) - America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) announced today that on March 26, 2021, Vantage at Germantown, a 288-unit market rate multifamily project located in …