- Recognize investment income of approximately
- Recognize a gain on sale of approximately
$5.7 million(before final settlements of proceeds and expenses),
- Realize approximately
$0.11of net income per Beneficial Unit Certificate (“BUC”), basic and diluted, from the sale in Q4 2019, and
- Realize Cash Available for Distribution of approximately
$0.11per BUC, basic and diluted, from the sale in Q4 2019.
“In 2015, the Partnership invested in its first 288-unit, market rate Vantage multifamily project,” said
Disclosure Regarding Non-GAAP Measures
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 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 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.
Safe Harbor Statement
Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the
Chief Financial Officer
Source: America First Multifamily Investors, L.P.