The senior MRBs were redeemed at a 6% premium to the outstanding principal for premium proceeds of $1.8 million. Redemption of two senior MRBs and two subordinate MRBs with outstanding principal totaling $32.4 million. The Partnership initially advanced $3.0 million of its GIL commitment and $1.0 million of its property loan commitment, with the remaining commitments to be funded during construction. In addition, the Partnership reported the following notable transactions in July 2021:Ĭommitted to fund a GIL investment of up to $60.0 million and a property loan of up to $25.5 million for the construction of an affordable multifamily property in Kissimmee, FL. The Partnership had drawn $6.5 million on the secured line of credit as of Jand proceeds will be used to purchase additional investments and to meet general working capital and liquidity requirements. Obtained a new line of credit for up to $40.0 million from two financial institutions secured by the Partnership’s investments in unconsolidated entities and the Suites on Paseo MF Property, a 384-unit student housing community located in San Diego, California. Received proceeds from five Tender Option Bond (“TOB”) financings with Mizuho totaling $31.0 million, which were used to finance the GIL and MRB investment funding advances noted above. Made equity investments in two unconsolidated entities totaling $11.6 million.
Received proceeds from the sale of Vantage at Powdersville in South Carolina totaling $20.1 million on the Partnership’s initial investment of $10.7 million beginning in November 2017.Īdvanced funds for five existing GIL investment commitments totaling $26.5 million.Īdvanced funds for two MRB investment commitments totaling $6.9 million. The Partnership reported the following notable transactions during the second quarter of 2021: Net income, basic and diluted, of $0.22 per BUCĬash Available for Distribution of $0.28 per BUC Total revenues of approximately $30.8 million Total Mortgage Revenue Bond (“MRB”) and Governmental Issuer Loan (“GIL”) investments of $908.4 million
Net income, basic and diluted, of $0.13 per Beneficial Unit Certificate (“BUC”)Ĭash Available for Distribution (“CAD”) of $0.17 per BUC
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