This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

America First Tax Exempt Investors, L.P. Announces Recent Investment Activity

Stocks in this article: ATAX

OMAHA, Neb., Aug. 22, 2013 (GLOBE NEWSWIRE) -- America First Tax Exempt Investors, L.P. (Nasdaq:ATAX) (the "Company" or "ATAX") announced that it acquired at par six tax-exempt bonds secured by three properties located in San Antonio, Texas on June 27, 2013. The bond purchases are as follows: a $5.8 million par value Series A and a $2.5 million par value Series B tax-exempt mortgage revenue bond secured by the Dublin Apartments, a 156 unit multifamily apartment complex; a $3.1 million par value Series A and a $2.3 million par value Series B tax-exempt mortgage revenue bonds secured by the Kingswood Apartments, a 129 unit multifamily apartment complex; and a $5.5 million par value Series A and $1.7 million par value Series B tax-exempt mortgage revenue bonds secured by the Waterford Apartments, a 133 unit multifamily apartment complex. The three Series A tax-exempt senior mortgage revenue bonds each carry an annual interest rate of 6.0% and mature on August 1, 2050. The three Series B tax-exempt subordinate mortgage revenue bonds each carry an annual cash interest rate of 9% plus allow for an additional 3% of interest calculated on each related property's available cash flow after debt service and mature on September 1, 2050.

In June 2013, the Company redeemed its interest in the Iona Lakes tax-exempt mortgage revenue bond receiving cash proceeds of approximately $21.9 million. This redemption resulted in the realization of approximately $6.5 million in contingent tax-exempt interest income and an approximately $4.6 million realized loss on a taxable property loan. The net tax-exempt gain of approximately $1.9 million was Tier 2 income and 25% was distributed to the General Partner in July 2013.

The Company filed its Form 10-Q for the quarter ended June 30, 2013 with the Securities and Exchange Commission ("SEC") on August 9, 2013. The quarterly consolidated financial statements filed with the SEC as well as the Company's second quarter supplemental financial report are both accessible via the Company's website located on the World Wide Web at

The quarterly supplemental financial report presented on our website serves two primary purposes which align to how management monitors the performance of the business. Management utilizes a calculation called cash available for distribution ("CAD"), a non-GAAP measure, to determine the Partnership's ability to make distributions to unitholders. This supplemental report highlights changes to CAD in the most recent quarter and overall trends in CAD performance, information which is also disclosed in the Company's previously filed Form 10-Q.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs