atax-10q_20200630.htm
0001059142 --12-31 Accelerated Filer Q2 false Yes Yes P6M P5Y 2023-01-01 0.0310 P5Y5M19D P4Y6M29D P5Y5M4D AA- AA- BBB Variable Variable Variable Variable 0.0033 0.0035 0.0073 0.0043 0.0117 0.0166 0.0150 0.0160 0.0190 0.0201 0.0117 0.0166 0.0296 0.0345 P1Y P1Y 9450000 94500000 0.0325 0.0250 0.0325 0.0355 0001059142 2020-01-01 2020-06-30 xbrli:shares 0001059142 2020-06-30 iso4217:USD 0001059142 2019-12-31 0001059142 2020-04-01 2020-06-30 0001059142 2019-04-01 2019-06-30 0001059142 2019-01-01 2019-06-30 0001059142 atax:BeneficialUnitCertificatesMember 2020-04-01 2020-06-30 0001059142 atax:BeneficialUnitCertificatesMember 2019-04-01 2019-06-30 0001059142 atax:BeneficialUnitCertificatesMember 2020-01-01 2020-06-30 0001059142 atax:BeneficialUnitCertificatesMember 2019-01-01 2019-06-30 0001059142 atax:RestrictedUnitholdersMember 2020-04-01 2020-06-30 0001059142 atax:RestrictedUnitholdersMember 2019-04-01 2019-06-30 0001059142 atax:RestrictedUnitholdersMember 2020-01-01 2020-06-30 0001059142 atax:RestrictedUnitholdersMember 2019-01-01 2019-06-30 iso4217:USD xbrli:shares 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-06-30 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-06-30 0001059142 us-gaap:GeneralPartnerMember 2019-12-31 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2019-12-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2019-12-31 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001059142 us-gaap:GeneralPartnerMember 2020-01-01 2020-03-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2020-01-01 2020-03-31 0001059142 2020-01-01 2020-03-31 0001059142 us-gaap:GeneralPartnerMember atax:TierTwoDistributionMember 2020-01-01 2020-03-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember atax:TierTwoDistributionMember 2020-01-01 2020-03-31 0001059142 atax:TierTwoDistributionMember 2020-01-01 2020-03-31 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2020-01-01 2020-03-31 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001059142 us-gaap:GeneralPartnerMember 2020-03-31 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2020-03-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2020-03-31 0001059142 2020-03-31 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001059142 us-gaap:GeneralPartnerMember 2020-04-01 2020-06-30 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2020-04-01 2020-06-30 0001059142 us-gaap:GeneralPartnerMember 2020-06-30 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2020-06-30 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2020-06-30 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001059142 2019-03-31 0001059142 2019-06-30 0001059142 us-gaap:GeneralPartnerMember 2018-12-31 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2018-12-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2018-12-31 0001059142 2018-12-31 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001059142 us-gaap:GeneralPartnerMember 2019-01-01 2019-03-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2019-01-01 2019-03-31 0001059142 2019-01-01 2019-03-31 0001059142 us-gaap:GeneralPartnerMember atax:TierTwoDistributionMember 2019-01-01 2019-03-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember atax:TierTwoDistributionMember 2019-01-01 2019-03-31 0001059142 atax:TierTwoDistributionMember 2019-01-01 2019-03-31 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001059142 us-gaap:GeneralPartnerMember 2019-03-31 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2019-03-31 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2019-03-31 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001059142 us-gaap:GeneralPartnerMember 2019-04-01 2019-06-30 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2019-04-01 2019-06-30 0001059142 us-gaap:GeneralPartnerMember 2019-06-30 0001059142 atax:CapitalUnitsRestrictedAndUnrestrictedMember 2019-06-30 0001059142 atax:LimitedPartnerRestrictedAndUnrestrictedMember 2019-06-30 0001059142 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001059142 atax:MortgageRevenueBondsMember 2020-01-01 2020-06-30 0001059142 atax:MortgageRevenueBondsMember 2019-01-01 2019-06-30 0001059142 atax:TrustPortfolioPhcftMember 2020-01-01 2020-06-30 0001059142 atax:TrustPortfolioPhcftMember 2019-01-01 2019-06-30 0001059142 us-gaap:UnsecuredDebtMember 2020-01-01 2020-06-30 0001059142 us-gaap:RestrictedStockUnitsRSUMember 2020-01-01 2020-06-30 0001059142 us-gaap:MortgagesMember 2020-01-01 2020-06-30 atax:Property 0001059142 atax:GreensHoldCoMember 2020-06-30 xbrli:pure 0001059142 atax:TierOneDistributionMember us-gaap:LimitedPartnerMember 2020-06-30 0001059142 atax:TierOneDistributionMember us-gaap:GeneralPartnerMember 2020-06-30 0001059142 atax:TierTwoDistributionMember us-gaap:LimitedPartnerMember 2020-06-30 0001059142 atax:TierTwoDistributionMember us-gaap:GeneralPartnerMember 2020-06-30 0001059142 atax:TierThreeDistributionMember us-gaap:LimitedPartnerMember 2020-06-30 0001059142 us-gaap:AvailableforsaleSecuritiesMember 2020-03-31 0001059142 us-gaap:AvailableforsaleSecuritiesMember 2019-12-31 0001059142 atax:GovernmentalIssuerLoanMember 2020-03-31 0001059142 atax:PropertyLoansMember 2020-03-31 0001059142 us-gaap:EquityMethodInvestmentsMember 2020-03-31 0001059142 us-gaap:EquityMethodInvestmentsMember 2019-12-31 0001059142 atax:CourtyardMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:GlenviewApartmentsMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:HarmonyCourtBakersfieldMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:HarmonyTerraceMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:HardenRanchMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:LasPalmasTwoMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:MontclairApartmentsMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:MontecitoAtWilliamsRanchApartmentsMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SanVicenteMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SantaFeApartmentsMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SeasonsAtSimiValleyMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SeasonsLakewoodMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SeasonsSanJuanCapistranoMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SummerhillMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SycamoreWalkMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:VillageAtMaderaMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:TylerParkTownhomesMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:VineyardGardensMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:WestsideVillageMarketMember us-gaap:FirstMortgageMember stpr:CA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:BrookstoneMember stpr:IL atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:CopperGateMember stpr:IN atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:RenaissanceMember us-gaap:FirstMortgageMember stpr:LA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:Live929ApartmentsMember stpr:MD atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:WoodlynnVillageMember stpr:MN atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:GatewayVillageMember stpr:NC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:GreensPropertyMember us-gaap:FirstMortgageMember stpr:NC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:LynnhavenApartmentsMember stpr:NC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SilverMoonMember us-gaap:FirstMortgageMember stpr:NM atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:VillageAtAvalonMember us-gaap:FirstMortgageMember stpr:NM atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:OhioPropertiesMember us-gaap:FirstMortgageMember stpr:OH atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:BridleRidgeMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:ColumbiaGardensMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:CompanionAtThornHillApartmentsMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:CrossCreekMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:RosewoodTownhomesMember us-gaap:FirstMortgageMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SouthPointeApartmentsMember us-gaap:FirstMortgageMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:PalmsAtPremierParkMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:VillageAtRiversEdgeMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:WillowRunMember stpr:SC atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:ArborsAtHickoryRidgeMember stpr:TN atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarAtCopperfieldMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarAtCrestMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarAtOaksMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarAtParkwayMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarAtWilcrestMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarAtWoodHollowMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarIn09Member us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarOnBoulevardMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:AvistarOnHillsMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:BrutonApartmentsMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:ConcordAtGulfgateMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:ConcordAtLittleYorkMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:ConcordAtWilliamcrestMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:CrossingAtOneThousandFourHundredFifteenMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:DecaturAngleMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:EsperanzaAtPaloAltoMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:HeightsAtHeightsAtFiveHundredFifteenMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:HeritageSquareMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:OaksAtGeorgetownMember us-gaap:FirstMortgageMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:RunnymedeMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:SouthparkMember stpr:TX atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:FifteenWestApartmentsMember stpr:WA atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 atax:MontevistaMember atax:MortgageRevenueBondsMember stpr:CA atax:FirstAndSecondMortgageMember 2020-06-30 0001059142 atax:SolanoVistaMember atax:MortgageRevenueBondsMember stpr:CA us-gaap:FirstMortgageMember 2020-06-30 0001059142 atax:GreensPropertyMember atax:MortgageRevenueBondsMember stpr:NC us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:ArbyRoadApartmentsMember atax:MortgageRevenueBondsMember stpr:NV us-gaap:FirstMortgageMember 2020-06-30 0001059142 atax:OhioPropertiesMember atax:MortgageRevenueBondsMember stpr:OH us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:RosewoodTownhomesMember atax:MortgageRevenueBondsMember stpr:SC us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:SouthPointeApartmentsMember atax:MortgageRevenueBondsMember stpr:SC us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:ProNova20141Member atax:MortgageRevenueBondsMember stpr:TN 2020-06-30 0001059142 atax:AvistarAtCrestMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:AvistarAtOaksMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:AvistarAtParkwayMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:AvistarIn09Member atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:AvistarOnBoulevardMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:MortgageRevenueBondsMember 2020-06-30 0001059142 atax:CourtyardMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:GlenviewApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:HarmonyCourtBakersfieldMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:HarmonyTerraceMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:HardenRanchMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:LasPalmasTwoMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:MontclairApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:MontecitoAtWilliamsRanchApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SanVicenteMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SantaFeApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SeasonsAtSimiValleyMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SeasonsLakewoodMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SeasonsSanJuanCapistranoMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SummerhillMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SycamoreWalkMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:VillageAtMaderaMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:TylerParkTownhomesMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:VineyardGardensMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:WestsideVillageMarketMember atax:MortgageRevenueBondsHeldInTrustMember stpr:CA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:BrookstoneMember atax:MortgageRevenueBondsHeldInTrustMember stpr:IL 2019-12-31 0001059142 atax:CopperGateMember atax:MortgageRevenueBondsHeldInTrustMember stpr:IN 2019-12-31 0001059142 atax:RenaissanceMember atax:MortgageRevenueBondsHeldInTrustMember stpr:LA us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:Live929ApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:MD 2019-12-31 0001059142 atax:WoodlynnVillageMember atax:MortgageRevenueBondsHeldInTrustMember stpr:MN 2019-12-31 0001059142 atax:GatewayVillageMember atax:MortgageRevenueBondsHeldInTrustMember stpr:NC 2019-12-31 0001059142 atax:GreensPropertyMember atax:MortgageRevenueBondsHeldInTrustMember stpr:NC us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:LynnhavenApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:NC 2019-12-31 0001059142 atax:SilverMoonMember atax:MortgageRevenueBondsHeldInTrustMember stpr:NM us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:VillageAtAvalonMember atax:MortgageRevenueBondsHeldInTrustMember stpr:NM us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:OhioPropertiesMember atax:MortgageRevenueBondsHeldInTrustMember stpr:OH us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:BridleRidgeMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:ColumbiaGardensMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:CompanionAtThornHillApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:CrossCreekMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:RosewoodTownhomesMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:SouthPointeApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:PalmsAtPremierParkMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:VillageAtRiversEdgeMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:WillowRunMember atax:MortgageRevenueBondsHeldInTrustMember stpr:SC 2019-12-31 0001059142 atax:ArborsAtHickoryRidgeMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TN 2019-12-31 0001059142 atax:ProNovaMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TN 2019-12-31 0001059142 atax:AvistarAtCopperfieldMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarAtCrestMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarAtOaksMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarAtParkwayMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarAtWilcrestMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarAtWoodHollowMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarIn09Member atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarOnBoulevardMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:AvistarOnHillsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:BrutonApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX 2019-12-31 0001059142 atax:ConcordAtGulfgateMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:ConcordAtLittleYorkMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:ConcordAtWilliamcrestMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:CrossingAtOneThousandFourHundredFifteenMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:DecaturAngleMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX 2019-12-31 0001059142 atax:EsperanzaAtPaloAltoMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX 2019-12-31 0001059142 atax:HeightsAtHeightsAtFiveHundredFifteenMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:HeritageSquareMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:OaksAtGeorgetownMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX us-gaap:FirstMortgageMember 2019-12-31 0001059142 atax:RunnymedeMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX 2019-12-31 0001059142 atax:SouthparkMember atax:MortgageRevenueBondsHeldInTrustMember stpr:TX 2019-12-31 0001059142 atax:FifteenWestApartmentsMember atax:MortgageRevenueBondsHeldInTrustMember stpr:WA 2019-12-31 0001059142 atax:MortgageRevenueBondsHeldInTrustMember 2019-12-31 0001059142 atax:MontevistaMember atax:MortgageRevenueBondsMember stpr:CA atax:FirstAndSecondMortgageMember 2019-12-31 0001059142 atax:SolanoVistaMember atax:MortgageRevenueBondsMember stpr:CA atax:FirstAndSecondMortgageMember 2019-12-31 0001059142 atax:GreensPropertyMember atax:MortgageRevenueBondsMember stpr:NC us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:OhioPropertiesMember atax:MortgageRevenueBondsMember stpr:OH us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:RosewoodTownhomesMember atax:MortgageRevenueBondsMember stpr:SC us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:SouthPointeApartmentsMember atax:MortgageRevenueBondsMember stpr:SC us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:AvistarAtCrestMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:AvistarAtOaksMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:AvistarAtParkwayMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:AvistarIn09Member atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:AvistarOnBoulevardMember atax:MortgageRevenueBondsMember stpr:TX us-gaap:SecondMortgageMember 2019-12-31 0001059142 atax:MortgageRevenueBondsMember 2019-12-31 0001059142 atax:ProNovaMember 2020-04-01 2020-06-30 0001059142 atax:ProNovaMember 2020-01-01 2020-06-30 0001059142 atax:ArbyRoadApartmentsMember atax:LasVegasNevadaMember atax:FirstMortgageOneMember 2020-01-01 2020-06-30 0001059142 atax:ArbyRoadApartmentsMember atax:LasVegasNevadaMember atax:FirstMortgageTwoMember 2020-01-01 2020-06-30 atax:Unit 0001059142 atax:ArbyRoadApartmentsMember atax:LasVegasNevadaMember atax:FirstMortgageOneMember 2020-06-30 0001059142 atax:ArbyRoadApartmentsMember atax:LasVegasNevadaMember atax:FirstMortgageTwoMember 2020-06-30 0001059142 atax:SolanoVistaMember atax:VallejoCaliforniaMember atax:MortgageRevenueBondsMember us-gaap:SecondMortgageMember 2020-01-01 2020-06-30 0001059142 atax:SolanoVistaMember atax:VallejoCaliforniaMember atax:MortgageRevenueBondsMember us-gaap:SecondMortgageMember 2020-06-30 0001059142 atax:GatewayVillageMember atax:DurhamNorthCarolinaMember 2019-01-01 2019-06-30 0001059142 atax:LynnhavenApartmentsMember atax:DurhamNorthCarolinaMember 2019-01-01 2019-06-30 0001059142 atax:MontevistaMember atax:SanPabloCaliforniaMember us-gaap:FirstMortgageMember 2019-01-01 2019-06-30 0001059142 atax:MontevistaMember atax:SanPabloCaliforniaMember us-gaap:SecondMortgageMember 2019-01-01 2019-06-30 0001059142 atax:GatewayVillageMember atax:DurhamNorthCarolinaMember 2019-06-30 0001059142 atax:LynnhavenApartmentsMember atax:DurhamNorthCarolinaMember 2019-06-30 0001059142 atax:MontevistaMember atax:SanPabloCaliforniaMember us-gaap:FirstMortgageMember 2019-06-30 0001059142 atax:MontevistaMember atax:SanPabloCaliforniaMember us-gaap:SecondMortgageMember 2019-06-30 0001059142 atax:SeasonsSanJuanCapistranoMember us-gaap:SecondMortgageMember atax:SanJuanCapistranoCaliforniaMember atax:MortgageRevenueBondsMember 2019-01-01 2019-06-30 0001059142 atax:CourtyardMember us-gaap:SecondMortgageMember atax:FullertonCaliforniaMember atax:MortgageRevenueBondsMember 2019-01-01 2019-06-30 0001059142 atax:SeasonsSanJuanCapistranoMember us-gaap:SecondMortgageMember atax:SanJuanCapistranoCaliforniaMember atax:MortgageRevenueBondsMember 2019-06-30 0001059142 atax:CourtyardMember us-gaap:SecondMortgageMember atax:FullertonCaliforniaMember atax:MortgageRevenueBondsMember 2019-06-30 0001059142 atax:MortgageRevenueBondsMember 2019-06-30 0001059142 atax:AvistarAtCopperfieldMember us-gaap:SecondMortgageMember atax:HoustonTexasMember atax:MortgageRevenueBondsMember 2019-01-01 2019-06-30 0001059142 atax:AvistarAtWilcrestMember us-gaap:SecondMortgageMember atax:HoustonTexasMember atax:MortgageRevenueBondsMember 2019-01-01 2019-06-30 0001059142 atax:AvistarAtWoodHollowMember us-gaap:SecondMortgageMember atax:AustinTexasMember atax:MortgageRevenueBondsMember 2019-01-01 2019-06-30 0001059142 atax:AvistarAtCopperfieldMember us-gaap:SecondMortgageMember atax:HoustonTexasMember atax:MortgageRevenueBondsMember 2019-06-30 0001059142 atax:AvistarAtWilcrestMember us-gaap:SecondMortgageMember atax:HoustonTexasMember atax:MortgageRevenueBondsMember 2019-06-30 0001059142 atax:AvistarAtWoodHollowMember us-gaap:SecondMortgageMember atax:AustinTexasMember atax:MortgageRevenueBondsMember 2019-06-30 0001059142 atax:GovernmentalIssuerLoanMember atax:ScharbauerFlatsApartmentsMember atax:TOBTrustMember atax:MidlandTexasMember 2020-01-01 2020-06-30 0001059142 atax:GovernmentalIssuerLoanMember atax:ScharbauerFlatsApartmentsMember atax:TOBTrustMember atax:MidlandTexasMember 2020-06-30 0001059142 atax:GovernmentalIssuerLoanMember atax:ScharbauerFlatsApartmentsMember atax:TOBTrustMember atax:MidlandTexasMember us-gaap:SifmaMunicipalSwapRateMember 2020-06-30 0001059142 atax:ScharbauerFlatsApartmentsMember 2020-01-01 2020-06-30 atax:Option 0001059142 atax:TrustPortfolioPhcftMember 2020-06-30 0001059142 atax:PublicHousingCapitalFundTrustsCertificatesMember 2020-01-30 2020-01-30 0001059142 atax:PublicHousingCapitalFundTrustIMember atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 atax:PublicHousingCapitalFundTrustIiMember atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 atax:PublicHousingCapitalFundTrustIiiMember atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember atax:PublicHousingCapitalFundTrustIMember srt:StandardPoorsAAMinusRatingMember 2019-01-01 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember atax:PublicHousingCapitalFundTrustIiMember srt:StandardPoorsAAMinusRatingMember 2019-01-01 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember atax:PublicHousingCapitalFundTrustIiiMember srt:StandardPoorsBBBRatingMember 2019-01-01 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember atax:PublicHousingCapitalFundTrustIMember srt:StandardPoorsAAMinusRatingMember 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember atax:PublicHousingCapitalFundTrustIiMember srt:StandardPoorsAAMinusRatingMember 2019-12-31 0001059142 atax:TrustPortfolioPhcftMember atax:PublicHousingCapitalFundTrustIiiMember srt:StandardPoorsBBBRatingMember 2019-12-31 0001059142 atax:TheSuitesOnPaseoMember atax:SanDiegoCaliforniaMember 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember atax:LincolnNebraskaMember 2020-06-30 0001059142 atax:LandHeldForDevelopmentMember 2020-06-30 0001059142 atax:TheSuitesOnPaseoMember atax:SanDiegoCaliforniaMember 2019-12-31 0001059142 atax:The5050StudentHousingUNLMember atax:LincolnNebraskaMember 2019-12-31 0001059142 atax:LandHeldForDevelopmentMember 2019-12-31 0001059142 atax:GardnerKSMember 2020-04-01 2020-06-30 0001059142 srt:MinimumMember atax:ATAXVantageHoldingsLLCMember 2020-01-01 2020-06-30 0001059142 atax:ATAXVantageHoldingsLLCMember srt:MaximumMember 2020-01-01 2020-06-30 0001059142 atax:WacoTXMember atax:VantageAtWacoMember 2020-06-30 0001059142 atax:PowdersvilleSCMember atax:VantageAtPowdersvilleMember 2020-06-30 0001059142 atax:OmahaNebraskaMember atax:VantageAtStoneCreekMember 2020-06-30 0001059142 atax:BulverdeTXMember atax:VantageAtBulverdeMember 2020-06-30 0001059142 atax:GermantownTNMember atax:VantageAtGermantownMember 2020-06-30 0001059142 atax:MurfreesboroTNMember atax:VantageAtMurfreesboroMember 2020-06-30 0001059142 atax:OmahaNebraskaMember atax:VantageAtCoventryMember 2020-06-30 0001059142 atax:ConroeTXMember atax:VantageAtConroeMember 2020-06-30 0001059142 atax:SanAntonioTexasMember atax:VantageAtOConnorMember 2020-06-30 0001059142 atax:SanAntonioTexasMember atax:VantageAtWestoverHillsMember 2020-06-30 0001059142 atax:WacoTXMember atax:VantageAtWacoMember 2020-01-01 2020-06-30 0001059142 atax:PowdersvilleSCMember atax:VantageAtPowdersvilleMember 2020-01-01 2020-06-30 0001059142 atax:OmahaNebraskaMember atax:VantageAtStoneCreekMember 2020-01-01 2020-06-30 0001059142 atax:BulverdeTXMember atax:VantageAtBulverdeMember 2020-01-01 2020-06-30 0001059142 atax:GermantownTNMember atax:VantageAtGermantownMember 2020-01-01 2020-06-30 0001059142 atax:MurfreesboroTNMember atax:VantageAtMurfreesboroMember 2020-01-01 2020-06-30 0001059142 atax:OmahaNebraskaMember atax:VantageAtCoventryMember 2020-01-01 2020-06-30 0001059142 atax:ConroeTXMember atax:VantageAtConroeMember 2020-01-01 2020-06-30 0001059142 atax:SanAntonioTexasMember atax:VantageAtOConnorMember 2020-01-01 2020-06-30 0001059142 atax:SanAntonioTexasMember atax:VantageAtWestoverHillsMember 2020-01-01 2020-06-30 0001059142 atax:WacoTXMember atax:VantageAtWacoMember 2019-12-31 0001059142 atax:PowdersvilleSCMember atax:VantageAtPowdersvilleMember 2019-12-31 0001059142 atax:OmahaNebraskaMember atax:VantageAtStoneCreekMember 2019-12-31 0001059142 atax:BulverdeTXMember atax:VantageAtBulverdeMember 2019-12-31 0001059142 atax:GermantownTNMember atax:VantageAtGermantownMember 2019-12-31 0001059142 atax:MurfreesboroTNMember atax:VantageAtMurfreesboroMember 2019-12-31 0001059142 atax:OmahaNebraskaMember atax:VantageAtCoventryMember 2019-12-31 0001059142 atax:ConroeTXMember atax:VantageAtConroeMember 2019-12-31 0001059142 atax:SanAntonioTexasMember atax:VantageAtOConnorMember 2019-12-31 0001059142 atax:VantageAtWestoverHillsMember 2020-01-31 0001059142 atax:VantageAtWacoMember 2020-06-01 2020-06-30 0001059142 atax:VantageAtWacoMember srt:ScenarioForecastMember srt:MaximumMember 2020-01-01 2020-12-31 0001059142 atax:VantageAtConroeMember 2019-04-30 0001059142 atax:ArborsAtHickoryRidgeMember 2020-06-30 0001059142 atax:AvistarPortfolioMember 2020-06-30 0001059142 atax:AvistarPortfolio2Member 2020-06-30 0001059142 atax:CrossCreekMember 2020-06-30 0001059142 atax:GreensPropertyMember 2020-06-30 0001059142 atax:Live929ApartmentsMember 2020-06-30 0001059142 atax:OhioPropertiesMember 2020-06-30 0001059142 atax:ScharbauerFlatsApartmentsMember 2020-06-30 0001059142 atax:ArborsAtHickoryRidgeMember 2019-12-31 0001059142 atax:AvistarPortfolioMember 2019-12-31 0001059142 atax:AvistarPortfolio2Member 2019-12-31 0001059142 atax:CrossCreekMember 2019-12-31 0001059142 atax:GreensPropertyMember 2019-12-31 0001059142 atax:Live929ApartmentsMember 2019-12-31 0001059142 atax:OhioPropertiesMember 2019-12-31 0001059142 atax:OhioPropertiesMember 2020-04-01 2020-06-30 0001059142 atax:OhioPropertiesMember 2020-01-01 2020-06-30 0001059142 atax:OhioPropertiesMember 2019-04-01 2019-06-30 0001059142 atax:OhioPropertiesMember 2019-01-01 2019-06-30 0001059142 atax:ScharbauerFlatsApartmentsMember srt:MaximumMember stpr:TX 2020-06-30 0001059142 atax:VantageAtBrooksLLCMember 2019-01-01 2019-01-31 0001059142 atax:GreensHoldCoMember 2020-04-01 2020-06-30 0001059142 atax:GreensHoldCoMember 2019-04-01 2019-06-30 0001059142 atax:GreensHoldCoMember 2020-01-01 2020-06-30 0001059142 atax:GreensHoldCoMember 2019-01-01 2019-06-30 0001059142 atax:The5050StudentHousingUNLMember 2020-01-01 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember 2019-01-01 2019-06-30 0001059142 atax:The5050StudentHousingUNLMember 2020-04-01 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember 2019-04-01 2019-06-30 0001059142 atax:BankersTrustNonOperatingMember us-gaap:UnsecuredDebtMember atax:TwoPointSixEightPercentageInterestBearingLineOfCreditMember 2020-06-30 0001059142 us-gaap:UnsecuredDebtMember 2020-06-30 0001059142 atax:BankersTrustOperatingMember us-gaap:UnsecuredDebtMember atax:ThreePointFourThreePercentageInterestBearingLineOfCreditMember 2020-06-30 0001059142 atax:BankersTrustNonOperatingMember us-gaap:UnsecuredDebtMember atax:TwoPointSixEightPercentageInterestBearingLineOfCreditMember 2020-01-01 2020-06-30 0001059142 atax:BankersTrustOperatingMember us-gaap:UnsecuredDebtMember atax:ThreePointFourThreePercentageInterestBearingLineOfCreditMember 2020-01-01 2020-06-30 0001059142 atax:BankersTrustNonOperatingMember us-gaap:UnsecuredDebtMember atax:FourPointOneNinePercentageInterestBearingLineOfCreditMember 2019-12-31 0001059142 us-gaap:UnsecuredDebtMember 2019-12-31 0001059142 atax:BankersTrustOperatingMember us-gaap:UnsecuredDebtMember atax:FourPointNineFourPercentageInterestBearingLineOfCreditMember 2019-12-31 0001059142 atax:BankersTrustNonOperatingMember us-gaap:UnsecuredDebtMember atax:FourPointOneNinePercentageInterestBearingLineOfCreditMember 2019-01-01 2019-12-31 0001059142 atax:BankersTrustOperatingMember us-gaap:UnsecuredDebtMember atax:FourPointNineFourPercentageInterestBearingLineOfCreditMember 2019-01-01 2019-12-31 0001059142 atax:BankersTrustOperatingMember 2020-06-30 0001059142 atax:BankersTrustOperatingMember us-gaap:SubsequentEventMember 2020-07-31 0001059142 atax:BankersTrustNonOperatingMember 2020-01-01 2020-06-30 0001059142 atax:FixedMTwentyFourMember atax:TaxExemptBondSecuritizationMember 2020-06-30 0001059142 atax:VariableMThirtyOneMember atax:TaxExemptBondSecuritizationMember 2020-06-30 0001059142 atax:FixedMThirtyThreeMember atax:TaxExemptBondSecuritizationMember 2020-06-30 0001059142 atax:FixedMFortyFiveMember atax:TaxExemptBondSecuritizationMember 2020-06-30 0001059142 atax:FixedMTwentyFourMember atax:TaxExemptBondSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:VariableMThirtyOneMember atax:TaxExemptBondSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:FixedMThirtyThreeMember atax:TaxExemptBondSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:FixedMFortyFiveMember atax:TaxExemptBondSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:VariableTOBOneMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 atax:VariableTOBTwoMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 atax:VariableTOBThreeMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 atax:VariableTOBFourMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 atax:FixedIncomeSecuritiesTermTOBMember atax:TOBTrustsSecuritizationMember atax:MorganStanleyBankMember 2020-06-30 0001059142 atax:VariableTOBOneMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 atax:VariableTOBTwoMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 atax:VariableTOBThreeMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 atax:VariableTOBFourMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 atax:FixedIncomeSecuritiesTermTOBMember atax:TOBTrustsSecuritizationMember atax:MorganStanleyBankMember 2020-01-01 2020-06-30 0001059142 srt:MinimumMember atax:VariableTOBTwoMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 srt:MinimumMember atax:VariableTOBThreeMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 srt:MaximumMember atax:VariableTOBTwoMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 srt:MaximumMember atax:VariableTOBThreeMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-01-01 2020-06-30 0001059142 srt:MinimumMember atax:VariableTOBThreeMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 srt:MaximumMember atax:VariableTOBThreeMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 srt:MinimumMember atax:VariableTOBTwoMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 srt:MaximumMember atax:VariableTOBTwoMember atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 atax:FixedMFortyFiveMember atax:InterestRateThroughJulyThirtyFirstTwoThousandTwentyThreeMember 2020-06-30 0001059142 atax:FixedMFortyFiveMember atax:InterestRateFromAugustFirstTwoThousandTwentyThreeMember 2020-06-30 0001059142 atax:VariableTOBMember atax:MizuhoCapitalMarketsLLCMember atax:TOBTrustsSecuritizationMember us-gaap:SubsequentEventMember 2020-07-01 2020-07-31 0001059142 atax:FixedMTwentyFourMember atax:TaxExemptBondSecuritizationMember 2019-12-31 0001059142 atax:VariableMThirtyOneMember atax:TaxExemptBondSecuritizationMember 2019-12-31 0001059142 atax:FixedMThirtyThreeMember atax:TaxExemptBondSecuritizationMember 2019-12-31 0001059142 atax:FixedMFortyFiveMember atax:TaxExemptBondSecuritizationMember 2019-12-31 0001059142 atax:FixedMTwentyFourMember atax:TaxExemptBondSecuritizationMember 2019-01-01 2019-12-31 0001059142 atax:VariableMThirtyOneMember atax:TaxExemptBondSecuritizationMember 2019-01-01 2019-12-31 0001059142 atax:FixedMThirtyThreeMember atax:TaxExemptBondSecuritizationMember 2019-01-01 2019-12-31 0001059142 atax:FixedMFortyFiveMember atax:TaxExemptBondSecuritizationMember 2019-01-01 2019-12-31 0001059142 atax:FixedIncomeSecuritiesTermTOBMember atax:TOBAndTermABTrustsSecuritizationMember atax:DeutscheBankMember 2019-12-31 0001059142 atax:FixedTermABOneMember atax:TOBAndTermABTrustsSecuritizationMember atax:DeutscheBankMember 2019-12-31 0001059142 atax:FixedTermABTwoMember atax:TOBAndTermABTrustsSecuritizationMember atax:DeutscheBankMember 2019-12-31 0001059142 atax:VariableTOBOneMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-12-31 0001059142 atax:VariableTOBTwoMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-12-31 0001059142 atax:VariableTOBThreeMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-12-31 0001059142 atax:FixedIncomeSecuritiesTermTOBMember atax:TOBAndTermABTrustsSecuritizationMember atax:MorganStanleyBankMember 2019-12-31 0001059142 atax:FixedIncomeSecuritiesTermTOBMember atax:TOBAndTermABTrustsSecuritizationMember atax:DeutscheBankMember 2019-01-01 2019-12-31 0001059142 atax:FixedTermABOneMember atax:TOBAndTermABTrustsSecuritizationMember atax:DeutscheBankMember 2019-01-01 2019-12-31 0001059142 atax:FixedTermABTwoMember atax:TOBAndTermABTrustsSecuritizationMember atax:DeutscheBankMember 2019-01-01 2019-12-31 0001059142 atax:VariableTOBOneMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-01-01 2019-12-31 0001059142 atax:VariableTOBTwoMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-01-01 2019-12-31 0001059142 atax:VariableTOBThreeMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-01-01 2019-12-31 0001059142 atax:FixedIncomeSecuritiesTermTOBMember atax:TOBAndTermABTrustsSecuritizationMember atax:MorganStanleyBankMember 2019-01-01 2019-12-31 0001059142 srt:MinimumMember atax:VariableTOBTwoMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-12-31 0001059142 srt:MaximumMember atax:VariableTOBTwoMember atax:TOBAndTermABTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember 2019-12-31 0001059142 atax:FixedMFortyFiveMember atax:InterestRateThroughJulyThirtyFirstTwoThousandTwentyThreeMember 2019-12-31 0001059142 atax:FixedMFortyFiveMember atax:InterestRateFromAugustFirstTwoThousandTwentyThreeMember 2019-12-31 0001059142 atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember atax:RosewoodTownhousesAndSouthPointApartmentsMember 2019-01-01 2019-12-31 0001059142 atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember atax:RosewoodTownhousesAndSouthPointApartmentsMember 2020-04-01 2020-04-30 0001059142 atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember atax:MontecitoAtWilliamsRanchVineyardGardensAndLive929ApartmentMember 2019-01-01 2019-12-31 0001059142 atax:TOBTrustsSecuritizationMember atax:MizuhoCapitalMarketsLLCMember atax:MontecitoAtWilliamsRanchVineyardGardensAndLive929ApartmentMember 2020-04-01 2020-04-30 0001059142 atax:TermABTrustMember atax:DeutscheBankMember 2020-04-30 0001059142 atax:DeutscheBankMember atax:TermABTrustMember atax:AvistarAtCopperfieldSeriesATOBTrustsSecuritizationMember 2020-04-01 2020-04-30 0001059142 atax:DeutscheBankMember atax:TermABTrustMember atax:AvistarAtWilcrestSeriesATOBTrustsSecuritizationMember 2020-04-01 2020-04-30 0001059142 atax:DeutscheBankMember atax:TermABTrustMember atax:AvistarAtWoodHollowSeriesATOBTrustsSecuritizationMember 2020-04-01 2020-04-30 0001059142 atax:DeutscheBankMember atax:TermABTrustMember atax:GatewayVillageTOBTrustsSecuritizationMember 2020-04-01 2020-04-30 0001059142 atax:DeutscheBankMember atax:TermABTrustMember atax:LynnhavenTOBTrustsSecuritizationMember 2020-04-01 2020-04-30 0001059142 atax:DeutscheBankMember atax:TermTOBTrustMember atax:ProNova20141Member 2020-04-01 2020-04-30 0001059142 atax:DeutscheBankMember 2020-04-01 2020-04-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:AvistarAtCopperfieldSeriesATOBTrustsSecuritizationMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:AvistarAtWilcrestSeriesATOBTrustsSecuritizationMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:AvistarAtWoodHollowSeriesATOBTrustsSecuritizationMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:GatewayVillageTOBTrustsSecuritizationMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:LynnhavenTOBTrustsSecuritizationMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:ScharbauerFlatsApartmentsMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:AvistarAtCopperfieldSeriesATOBTrustsSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:AvistarAtWilcrestSeriesATOBTrustsSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:AvistarAtWoodHollowSeriesATOBTrustsSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:GatewayVillageTOBTrustsSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:LynnhavenTOBTrustsSecuritizationMember 2020-01-01 2020-06-30 0001059142 atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember atax:ScharbauerFlatsApartmentsMember 2020-01-01 2020-06-30 atax:Agreement 0001059142 atax:TermABTrustMember atax:DeutscheBankMember 2019-02-01 2019-02-28 0001059142 atax:GatewayVillageMember atax:TermABTrustMember atax:DeutscheBankMember 2019-02-28 0001059142 atax:LynnhavenApartmentsMember atax:TermABTrustMember atax:DeutscheBankMember 2019-02-28 0001059142 atax:TermABTrustMember atax:DeutscheBankMember 2019-02-28 0001059142 atax:GatewayVillageMember atax:TermABTrustMember atax:DeutscheBankMember 2019-02-01 2019-02-28 0001059142 atax:LynnhavenApartmentsMember atax:TermABTrustMember atax:DeutscheBankMember 2019-02-01 2019-02-28 0001059142 atax:VillageAtAvalonMember atax:TermTOBTrustMember atax:MorganStanleyBankMember 2019-05-31 0001059142 atax:TermTOBTrustMember atax:MorganStanleyBankMember 2019-05-31 0001059142 atax:VillageAtAvalonMember atax:TermTOBTrustMember atax:MorganStanleyBankMember 2019-05-01 2019-05-31 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember atax:TaxIncrementFinancingMember 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember us-gaap:MortgagesMember 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember atax:TaxIncrementFinancingMember 2020-01-01 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember us-gaap:MortgagesMember 2020-01-01 2020-06-30 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember atax:TaxIncrementFinancingMember 2019-12-31 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember us-gaap:MortgagesMember 2019-12-31 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember atax:TaxIncrementFinancingMember 2019-01-01 2019-12-31 0001059142 atax:The5050StudentHousingUNLMember us-gaap:RealEstateMember us-gaap:MortgagesMember 2019-01-01 2019-12-31 0001059142 atax:WallStreetJournalPrimeRateMember srt:MaximumMember 2019-01-01 2019-12-31 0001059142 us-gaap:MortgagesMember us-gaap:RealEstateMember atax:The5050StudentHousingUNLMember 2020-02-01 2020-02-29 0001059142 us-gaap:RealEstateMember atax:The5050StudentHousingUNLMember atax:TaxIncrementFinancingMember 2020-02-01 2020-02-29 0001059142 atax:MortgagesPayableAndOtherSecuredFinancingMember 2020-06-30 0001059142 atax:WellsFargoBankMember 2020-01-01 2020-06-30 0001059142 atax:RoyalBankOfCanada1Member 2020-01-01 2020-06-30 0001059142 atax:SMBCCapitalMarketsInc1Member 2020-01-01 2020-06-30 0001059142 atax:BarclaysBankPLC1Member 2020-01-01 2020-06-30 0001059142 atax:BarclaysBankPLC2Member 2020-01-01 2020-06-30 0001059142 atax:BarclaysBankPLC3Member 2020-01-01 2020-06-30 0001059142 atax:WellsFargoBankMember 2020-06-30 0001059142 atax:RoyalBankOfCanada1Member 2020-06-30 0001059142 atax:SMBCCapitalMarketsInc1Member 2020-06-30 0001059142 atax:BarclaysBankPLC1Member 2020-06-30 0001059142 atax:BarclaysBankPLC2Member 2020-06-30 0001059142 atax:BarclaysBankPLC3Member 2020-06-30 0001059142 atax:WellsFargoBankMember 2019-01-01 2019-12-31 0001059142 atax:RoyalBankOfCanada1Member 2019-01-01 2019-12-31 0001059142 atax:SMBCCapitalMarketsInc1Member 2019-01-01 2019-12-31 0001059142 atax:BarclaysBankPLC1Member 2019-01-01 2019-12-31 0001059142 atax:BarclaysBankPLC2Member 2019-01-01 2019-12-31 0001059142 atax:BarclaysBankPLC3Member 2019-01-01 2019-12-31 0001059142 atax:WellsFargoBankMember 2019-12-31 0001059142 atax:RoyalBankOfCanada1Member 2019-12-31 0001059142 atax:SMBCCapitalMarketsInc1Member 2019-12-31 0001059142 atax:BarclaysBankPLC1Member 2019-12-31 0001059142 atax:BarclaysBankPLC2Member 2019-12-31 0001059142 atax:BarclaysBankPLC3Member 2019-12-31 0001059142 atax:ScharbauerFlatsApartmentsMember atax:MidlandTexasMember 2020-06-30 0001059142 atax:VantageAtStoneCreekMember 2020-01-01 2020-06-30 0001059142 atax:VantageAtCoventryMember 2020-01-01 2020-06-30 0001059142 atax:VantageAtStoneCreekMember 2020-06-30 0001059142 atax:VantageAtCoventryMember 2020-06-30 0001059142 atax:GreensOfPineGlenMember 2020-06-30 0001059142 atax:GreensOfPineGlenMember 2020-01-01 2020-06-30 0001059142 us-gaap:SeriesAPreferredStockMember 2020-06-30 0001059142 2016-03-01 2016-03-31 0001059142 2016-05-01 2016-05-31 0001059142 2016-09-01 2016-09-30 0001059142 2016-12-01 2016-12-31 0001059142 2017-03-01 2017-03-31 0001059142 2017-08-01 2017-08-31 0001059142 2017-10-01 2017-10-31 0001059142 2019-01-01 2019-12-31 0001059142 2016-03-31 0001059142 2016-05-31 0001059142 2016-09-30 0001059142 2016-12-31 0001059142 2017-03-31 0001059142 2017-08-31 0001059142 2017-10-31 0001059142 atax:GreystoneManagerMember srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember 2020-06-30 0001059142 atax:GreystoneManagerMember srt:MinimumMember us-gaap:RestrictedStockUnitsRSUMember 2020-01-01 2020-06-30 0001059142 atax:GreystoneManagerMember srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember 2020-01-01 2020-06-30 0001059142 us-gaap:RestrictedStockUnitsRSUMember us-gaap:GeneralAndAdministrativeExpenseMember 2020-04-01 2020-06-30 0001059142 us-gaap:RestrictedStockUnitsRSUMember us-gaap:GeneralAndAdministrativeExpenseMember 2019-04-01 2019-06-30 0001059142 us-gaap:RestrictedStockUnitsRSUMember us-gaap:GeneralAndAdministrativeExpenseMember 2020-01-01 2020-06-30 0001059142 us-gaap:RestrictedStockUnitsRSUMember us-gaap:GeneralAndAdministrativeExpenseMember 2019-01-01 2019-06-30 0001059142 us-gaap:RestrictedStockUnitsRSUMember 2018-12-31 0001059142 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-12-31 0001059142 us-gaap:RestrictedStockUnitsRSUMember 2019-12-31 0001059142 us-gaap:RestrictedStockUnitsRSUMember 2020-06-30 0001059142 us-gaap:GeneralPartnerMember 2020-04-01 2020-06-30 0001059142 us-gaap:GeneralPartnerMember 2019-04-01 2019-06-30 0001059142 us-gaap:GeneralPartnerMember 2020-01-01 2020-06-30 0001059142 us-gaap:GeneralPartnerMember 2019-01-01 2019-06-30 0001059142 atax:BurlingtonCapitalPropertiesLimitedLiabilityCompanyMember atax:RealEstatePropertiesManagedMember 2019-04-01 2019-06-30 0001059142 atax:BurlingtonCapitalPropertiesLimitedLiabilityCompanyMember atax:RealEstatePropertiesManagedMember 2019-01-01 2019-06-30 0001059142 atax:EffectiveRateMinimumMember atax:MortgageRevenueBondsAndBondPurchaseCommitmentsMember 2020-06-30 0001059142 atax:EffectiveRateMinimumMember atax:TaxableBondsMember 2020-06-30 0001059142 atax:EffectiveRateMinimumMember atax:MortgageRevenueBondsAndBondPurchaseCommitmentsMember 2019-12-31 0001059142 atax:EffectiveRateMinimumMember atax:TaxableBondsMember 2019-12-31 0001059142 atax:EffectiveRateMaximumMember atax:MortgageRevenueBondsAndBondPurchaseCommitmentsMember 2020-06-30 0001059142 atax:EffectiveRateMaximumMember atax:TaxableBondsMember 2020-06-30 0001059142 atax:EffectiveRateMaximumMember atax:MortgageRevenueBondsAndBondPurchaseCommitmentsMember 2019-12-31 0001059142 atax:EffectiveRateMaximumMember atax:TaxableBondsMember 2019-12-31 0001059142 atax:MortgageRevenueBondsAndBondPurchaseCommitmentsMember 2020-06-30 0001059142 atax:TaxableBondsMember 2020-06-30 0001059142 atax:MortgageRevenueBondsAndBondPurchaseCommitmentsMember 2019-12-31 0001059142 atax:TaxableBondsMember 2019-12-31 0001059142 atax:EffectiveRateMinimumMember atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 atax:EffectiveRateMaximumMember atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 us-gaap:DerivativeMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsHeldInTrustMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2020-03-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2020-03-31 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2020-03-31 0001059142 us-gaap:FairValueInputsLevel3Member 2020-03-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2020-04-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2020-04-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member 2020-04-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2020-04-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2020-01-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2020-01-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2020-01-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2020-01-01 2020-06-30 0001059142 atax:TrustPortfolioPhcftMember 2019-12-31 0001059142 us-gaap:DerivativeMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsHeldInTrustMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeMember 2019-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2019-03-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2019-03-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2019-03-31 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2019-03-31 0001059142 us-gaap:FairValueInputsLevel3Member 2019-03-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2019-04-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2019-04-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2019-04-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member 2019-04-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2019-04-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2018-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2018-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2018-12-31 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2018-12-31 0001059142 us-gaap:FairValueInputsLevel3Member 2018-12-31 0001059142 us-gaap:FairValueInputsLevel3Member atax:MortgageRevenueBondsIncludingBondsHeldInTrustMember 2019-01-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TrustPortfolioPhcftMember 2019-01-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsAssetsMember 2019-01-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-06-30 0001059142 us-gaap:FairValueInputsLevel3Member atax:TaxableBondsMember 2019-01-01 2019-06-30 0001059142 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-06-30 0001059142 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-06-30 0001059142 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0001059142 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 atax:Segment atax:Rating 0001059142 srt:MinimumMember 2020-01-01 2020-06-30 0001059142 srt:MaximumMember 2020-01-01 2020-06-30 0001059142 atax:TaxExemptSecuritiesOtherThanMRBsAndOtherInvestmentsMember 2020-06-30 atax:Security 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember 2020-01-01 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:ResidentialMortgageMember 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:CommercialRealEstateMember 2020-01-01 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:ResidentialMortgageMember 2020-01-01 2020-06-30 0001059142 us-gaap:RealEstateMember 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001059142 us-gaap:RealEstateMember us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001059142 us-gaap:RealEstateMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001059142 us-gaap:RealEstateMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001059142 us-gaap:RealEstateMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001059142 atax:PublicHousingCapitalFundTrustsCertificatesMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001059142 atax:PublicHousingCapitalFundTrustsCertificatesMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001059142 atax:PublicHousingCapitalFundTrustsCertificatesMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001059142 us-gaap:OtherInvestmentsMember us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001059142 us-gaap:OtherInvestmentsMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001059142 us-gaap:OtherInvestmentsMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001059142 us-gaap:OtherInvestmentsMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:OperatingSegmentsMember 2020-06-30 0001059142 atax:MortgageRevenueBondInvestmentsSegmentMember us-gaap:OperatingSegmentsMember 2019-12-31 0001059142 us-gaap:RealEstateMember us-gaap:OperatingSegmentsMember 2020-06-30 0001059142 us-gaap:RealEstateMember us-gaap:OperatingSegmentsMember 2019-12-31 0001059142 atax:PublicHousingCapitalFundTrustsCertificatesMember us-gaap:OperatingSegmentsMember 2019-12-31 0001059142 us-gaap:OtherInvestmentsMember us-gaap:OperatingSegmentsMember 2020-06-30 0001059142 us-gaap:OtherInvestmentsMember us-gaap:OperatingSegmentsMember 2019-12-31 0001059142 srt:ConsolidationEliminationsMember 2020-06-30 0001059142 srt:ConsolidationEliminationsMember 2019-12-31 0001059142 us-gaap:SubsequentEventMember atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember 2020-07-01 2020-07-31 0001059142 us-gaap:SubsequentEventMember us-gaap:UnsecuredDebtMember 2020-07-01 2020-07-31 0001059142 us-gaap:SubsequentEventMember 2020-07-31 0001059142 atax:OasisAtTwinLakesMember us-gaap:SubsequentEventMember atax:GovernmentalIssuerLoanMember atax:RosevilleMNMember 2020-07-01 2020-07-31 0001059142 atax:OasisAtTwinLakesMember us-gaap:SubsequentEventMember atax:PropertyLoansMember atax:RosevilleMNMember 2020-07-01 2020-07-31 0001059142 atax:OasisAtTwinLakesMember us-gaap:SubsequentEventMember atax:GovernmentalIssuerLoanMember atax:RosevilleMNMember 2020-07-31 0001059142 atax:OasisAtTwinLakesMember us-gaap:SubsequentEventMember atax:PropertyLoansMember atax:RosevilleMNMember 2020-07-31 0001059142 atax:OasisAtTwinLakesMember us-gaap:SubsequentEventMember atax:GovernmentalIssuerLoanMember atax:RosevilleMNMember us-gaap:SifmaMunicipalSwapRateMember 2020-07-31 0001059142 atax:OasisAtTwinLakesMember us-gaap:SubsequentEventMember atax:PropertyLoansMember atax:RosevilleMNMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-07-31 0001059142 atax:OasisAtTwinLakesTOBTrustsSecuritizationMember us-gaap:SubsequentEventMember 2020-07-01 2020-07-31 0001059142 atax:OasisAtTwinLakesTOBTrustsSecuritizationMember us-gaap:SubsequentEventMember us-gaap:SifmaMunicipalSwapRateMember 2020-07-01 2020-07-31 0001059142 atax:OasisAtTwinLakesTOBTrustsSecuritizationMember us-gaap:SubsequentEventMember us-gaap:SifmaMunicipalSwapRateMember 2020-07-31 0001059142 atax:OasisAtTwinLakesTOBTrustsSecuritizationMember srt:ScenarioForecastMember us-gaap:SifmaMunicipalSwapRateMember 2023-08-01 0001059142 atax:OasisAtTwinLakesTOBTrustsSecuritizationMember us-gaap:SubsequentEventMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-07-01 2020-07-31 0001059142 atax:OcotilloSpringsMember us-gaap:SubsequentEventMember atax:MortgageRevenueBondsMember atax:BrawleyCAMember 2020-07-01 2020-07-31 0001059142 atax:OcotilloSpringsMember us-gaap:SubsequentEventMember atax:TaxableMortgageRevenueBondsMember atax:BrawleyCAMember 2020-07-01 2020-07-31 0001059142 atax:OcotilloSpringsMember us-gaap:SubsequentEventMember atax:MortgageRevenueBondsMember atax:BrawleyCAMember 2020-07-31 0001059142 atax:OcotilloSpringsMember us-gaap:SubsequentEventMember atax:TaxableMortgageRevenueBondsMember atax:BrawleyCAMember 2020-07-31 0001059142 atax:OcotilloSpringsMember us-gaap:SubsequentEventMember atax:MortgageRevenueBondsMember atax:BrawleyCAMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-07-31 0001059142 atax:OcotilloSpringsMember us-gaap:SubsequentEventMember atax:TaxableMortgageRevenueBondsMember atax:BrawleyCAMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-07-31 0001059142 atax:MortgageRevenueBondsMember 2020-07-31 0001059142 atax:MortgageRevenueBondsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-07-31 0001059142 atax:TaxableMortgageRevenueBondsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-07-31 0001059142 atax:CCBASeniorGardenApartmentsMember us-gaap:SubsequentEventMember atax:SanDiegoCaliforniaMember atax:BondPurchaseCommitmentMember 2020-07-01 2020-07-31 0001059142 atax:CCBASeniorGardenApartmentsMember us-gaap:SubsequentEventMember atax:SanDiegoCaliforniaMember atax:BondPurchaseCommitmentMember 2020-07-31 0001059142 atax:OasisAtTwinLakesGovernmentalIssuerLoanMember us-gaap:SubsequentEventMember atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember 2020-07-31 0001059142 atax:OcotilloSpringsMortgageRevenueBondsMember us-gaap:SubsequentEventMember atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember 2020-07-31 0001059142 atax:OasisAtTwinLakesGovernmentalIssuerLoanMember us-gaap:SubsequentEventMember atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember 2020-07-01 2020-07-31 0001059142 atax:OcotilloSpringsMortgageRevenueBondsMember us-gaap:SubsequentEventMember atax:TOBTrustMember atax:MizuhoCapitalMarketsLLCMember 2020-07-01 2020-07-31

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020 

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to            

Commission File Number:  000-24843

 

AMERICA FIRST MULTIFAMILY INVESTORS, L.P.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

47-0810385

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

 

 

14301 FNB Parkway, Suite 211, Omaha, Nebraska

 

68154

(Address of principal executive offices)

 

(Zip Code)

 

 

 

(402) 952-1235

(Registrant’s telephone number, including area code)

 

N/A

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Beneficial Unit Certificates representing assignments of limited partnership interests in America First Multifamily Investors, L.P.

ATAX

The NASDAQ Stock Market, LLC

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  YES  NO 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  YES  NO 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

Accelerated filer

Non- accelerated filer

 

Smaller reporting company

Emerging growth company

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  YES  NO 

As of June 30, 2020, the registrant had 60,545,204  Beneficial Unit Certificates representing assignments of limited partnership interests in America First Multifamily Investors, L.P. outstanding.

 

 


 

INDEX

PART I – FINANCIAL INFORMATION

 

Item 1

 

Financial Statements (Unaudited)

 

4

 

 

Condensed Consolidated Balance Sheets

 

4

 

 

Condensed Consolidated Statements of Operations

 

5

 

 

Condensed Consolidated Statements of Comprehensive Income (Loss)

 

6

 

 

Condensed Consolidated Statements of Partners’ Capital

 

7

 

 

Condensed Consolidated Statements of Cash Flows

 

8

 

 

Notes to Condensed Consolidated Financial Statements

 

9

Item 2

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

40

Item 3

 

Quantitative and Qualitative Disclosures About Market Risk

 

61

Item 4

 

Controls and Procedures

 

63

 

 

 

 

 

PART II – OTHER INFORMATION

  Item 1A

 

Risk Factors

 

64

Item 6

 

Exhibits

 

65

 

SIGNATURES

 

66

 

 


 

Forward-Looking Statements

This report (including, but not limited to, the information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations”) contains forward-looking statements. All statements other than statements of historical facts contained in this report, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. When used, statements which are not historical in nature, including those containing words such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions, are intended to identify forward-looking statements. We have based forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. This report also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other industry data. This data involves several assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the statistical and other industry data generated by independent parties and contained in this report, and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of our future performance and the future performance of the industries in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described under the heading “Risk Factors” in Item 1A of America First Multifamily Investors, L.P.’s Annual Report on Form 10-K for the year ended December 31, 2019 and in this report.

These forward-looking statements are subject, but not limited, to various risks and uncertainties, including those relating to:

 

current maturities of our financing arrangements and our ability to renew or refinance such financing arrangements;

 

defaults on the mortgage loans securing our mortgage revenue bonds (“MRBs”) and governmental issuer loan (“GIL”);

 

the competitive environment in which we operate;

 

risks associated with investing in multifamily, student, senior citizen residential properties and commercial properties;

 

changes in business conditions and the general economy, including the current and future impact of the novel coronavirus (“COVID-19”) on business operations, employment and government-mandated relief and mitigation measures;

 

changes in interest rates;

 

our ability to use borrowings or obtain capital to finance our assets;

 

local, regional, national and international economic and credit market conditions;

 

recapture of previously issued Low Income Housing Tax Credits (“LIHTCs”) in accordance with Section 42 of the Internal Revenue Code (“IRC”);

 

geographic concentration within the MRB portfolio held by the Partnership; and

 

changes in the U.S. corporate tax code and other government regulations affecting our business.

Other risks, uncertainties and factors could cause our actual results to differ materially from those projected in any forward-looking statements we make. We are not obligated to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

All references to “we,” “us,” “our” and the “Partnership” in this document mean America First Multifamily Investors, L.P. (“ATAX”), its wholly-owned subsidiaries and its consolidated variable interest entities. See Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of this Report for additional details.

 

 

 

 


 

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

AMERICA FIRST MULTIFAMILY INVESTORS, L.P.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 

 

 

June 30, 2020

 

 

December 31, 2019

 

Assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

36,143,639

 

 

$

42,308,153

 

Restricted cash

 

 

981,082

 

 

 

877,828

 

Interest receivable, net

 

 

7,536,789

 

 

 

7,432,433

 

Mortgage revenue bonds held in trust, at fair value (Note 6)

 

 

744,663,143

 

 

 

743,587,715

 

Mortgage revenue bonds, at fair value (Note 6)

 

 

42,961,828

 

 

 

30,009,750

 

Governmental issuer loan (Note 7)

 

 

40,000,000

 

 

 

-

 

Public housing capital fund trust certificates, at fair value (Note 8)

 

 

-

 

 

 

43,349,357

 

Real estate assets: (Note 9)

 

 

 

 

 

 

 

 

Land and improvements

 

 

4,875,265

 

 

 

4,906,130

 

Buildings and improvements

 

 

72,060,565

 

 

 

72,011,533

 

Real estate assets before accumulated depreciation

 

 

76,935,830

 

 

 

76,917,663

 

Accumulated depreciation

 

 

(16,773,436

)

 

 

(15,357,700

)

Net real estate assets

 

 

60,162,394

 

 

 

61,559,963

 

Investments in unconsolidated entities (Note 10)

 

 

91,643,668

 

 

 

86,981,864

 

Property loans, net of loan loss allowance (Note 11)

 

 

9,666,870

 

 

 

7,999,094

 

Other assets (Note 13)

 

 

4,730,055

 

 

 

5,062,351

 

Total Assets

 

$

1,038,489,468

 

 

$

1,029,168,508

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Accounts payable, accrued expenses and other liabilities (Note 14)

 

$

8,475,675

 

 

$

9,036,167

 

Distribution payable

 

 

3,686,982

 

 

 

7,607,984

 

Unsecured lines of credit (Note 15)

 

 

18,695,000

 

 

 

13,200,000

 

Debt financing, net (Note 16)

 

 

538,948,049

 

 

 

536,197,421

 

Mortgages payable and other secured financing, net (Note 17)

 

 

26,391,908

 

 

 

26,802,246

 

Total Liabilities

 

 

596,197,614

 

 

 

592,843,818

 

 

 

 

 

 

 

 

 

 

Commitments and Contingencies (Note 19)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable Series A Preferred Units, approximately $94.5 million redemption value, 9.5 million

   issued and outstanding, net (Note 20)

 

 

94,404,452

 

 

 

94,386,427

 

 

 

 

 

 

 

 

 

 

Partnersʼ Capital:

 

 

 

 

 

 

 

 

General Partner (Note 1)

 

 

815,686

 

 

 

735,128

 

Beneficial Unit Certificates ("BUCs," Note 1)

 

 

347,071,716

 

 

 

341,203,135

 

Total Partnersʼ Capital

 

 

347,887,402

 

 

 

341,938,263

 

Total Liabilities and Partnersʼ Capital

 

$

1,038,489,468

 

 

$

1,029,168,508

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

4


 

AMERICA FIRST MULTIFAMILY INVESTORS, L.P.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment income

 

$

12,401,819

 

 

$

12,074,669

 

 

$

23,945,242

 

 

$

24,482,545

 

Property revenues

 

 

1,856,954

 

 

 

2,034,796

 

 

 

3,809,201

 

 

 

4,028,425

 

Contingent interest income

 

 

-

 

 

 

30,000

 

 

 

12,043

 

 

 

3,042,102

 

Other interest income

 

 

219,646

 

 

 

206,869

 

 

 

448,068

 

 

 

429,107

 

Other income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

28,753

 

Total revenues

 

 

14,478,419

 

 

 

14,346,334

 

 

 

28,214,554

 

 

 

32,010,932

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate operating (exclusive of items shown below)

 

 

854,424

 

 

 

919,256

 

 

 

2,029,798

 

 

 

2,096,074

 

Provision for credit loss (Note 6)

 

 

464,675

 

 

 

-

 

 

 

1,822,356

 

 

 

-

 

Impairment charge on real estate assets

 

 

25,200

 

 

 

-

 

 

 

25,200

 

 

 

-

 

Depreciation and amortization

 

 

712,081

 

 

 

819,804

 

 

 

1,421,519

 

 

 

1,640,612

 

Interest expense

 

 

4,889,316

 

 

 

6,206,935

 

 

 

10,907,284

 

 

 

12,601,855

 

General and administrative

 

 

2,846,371

 

 

 

2,496,798

 

 

 

5,744,897

 

 

 

5,275,389

 

Total expenses

 

 

9,792,067

 

 

 

10,442,793

 

 

 

21,951,054

 

 

 

21,613,930

 

Other Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of securities

 

 

-

 

 

 

-

 

 

 

1,416,023

 

 

 

-

 

Income before income taxes

 

 

4,686,352

 

 

 

3,903,541

 

 

 

7,679,523

 

 

 

10,397,002

 

Income tax expense

 

 

98,004

 

 

 

17,351

 

 

 

109,418

 

 

 

58,999

 

Net income

 

 

4,588,348

 

 

 

3,886,190

 

 

 

7,570,105

 

 

 

10,338,003

 

Redeemable Series A Preferred Unit distributions and accretion

 

 

(717,762

)

 

 

(717,763

)

 

 

(1,435,525

)

 

 

(1,435,526

)

Net income available to Partners

 

$

3,870,586

 

 

$

3,168,427

 

 

$

6,134,580

 

 

$

8,902,477

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to Partners allocated to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General Partner

 

$

38,706

 

 

$

31,684

 

 

$

(14,698

)

 

$

811,929

 

Limited Partners - BUCs

 

 

3,806,395

 

 

 

3,103,581

 

 

 

6,118,611

 

 

 

8,024,225

 

Limited Partners - Restricted units

 

 

25,485

 

 

 

33,162

 

 

 

30,667

 

 

 

66,323

 

 

 

$

3,870,586

 

 

$

3,168,427

 

 

$

6,134,580

 

 

$

8,902,477

 

BUC holders' interest in net income per BUC, basic and diluted

 

$

0.06

 

 

$

0.05

 

 

$

0.10

 

 

$

0.13

 

Weighted average number of BUCs outstanding, basic

 

 

60,545,204

 

 

 

60,426,177

 

 

 

60,649,692

 

 

 

60,426,177

 

Weighted average number of BUCs outstanding, diluted

 

 

60,545,204

 

 

 

60,426,177

 

 

 

60,649,692

 

 

 

60,426,177

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

 

5


 

AMERICA FIRST MULTIFAMILY INVESTORS, L.P.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2020