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AIM 85 REPORTS SECOND QUARTER EARNINGS OF 33 CENTS PER INVESTMENT UNIT

 ROCKVILLE, Md., Aug. 20 /PRNewswire/ -- American Insured Mortgage Investors - Series 85, L.P. (AIM 85) (AMEX: AII), reported net earnings for the three months ended June 30, 1993, of approximately $4.2 million (33 cents per investment unit), compared with the prior year's second quarter total of approximately $3.4 million (27 cents per investment unit).
 For the first six months of 1993, net earnings totaled $8.4 million (67 cents per investment unit) from approximately $7.1 million (57 cents per investment unit).
 As of June 30, 1993, AIM 85 held investments in 91 insured mortgages. Assets totaled approximately $228.6 million.
 During the six months ended June 30, 1993, the partnership purchased insured multifamily mortgages and made advances on insured construction loans in the amount of approximately $17.7 million. In addition, as of June 30, 1993, AIM 85 was committed to make future advances on construction loans of approximately $5.9 million. AIM 85 also had approximately $1.3 million available, but not yet committed, for reinvestment in insured muiltifamily mortgages. In July 1993, AIM 85 received proceeds from HUD as a result of the claim on 1212 North LaSalle. Consequently, AIM 85 increased the amount available, but not yet committed, for investment in insured mortgages from approximately $1.3 million to approximately $16.3 million.
 AMERICAN INSURED MORTGAGE INVESTORS -- SERIES 85, L.P.
 Statements of Operations
 (Unaudited)
 For the three months For the six months
 ended June 30, ended June 30,
 1993 1992 1993 1992
 Income:
 Mortgage investment
 income $4,255,280 $3,998,056 $ 8,571,237 $7,691,614
 Interest and
 other income 681,458 525,809 1,298,951 1,287,334
 Total 4,936,738 4,523,865 9,870,188 8,978,948
 Expenses:
 Asset management
 fee to related
 party 508,999 486,503 1,019,918 918,961
 General and
 administrative 237,814 182,472 460,639 495,054
 Total 746,813 668,975 1,480,557 1,414,015
 Earnings before
 loan losses 4,189,925 3,854,890 8,389,631 7,564,933
 Loan losses -- (487,665) (7,725) (440,735)
 Net earnings $4,189,925 $3,367,225 $8,381,906 $7,124,198
 Net earnings per
 limited partnership
 unit $0.33 $0.27 $0.67 $0.57
 -0- 8/20/93
 /CONTACT: James T. Pastore, 301-231-0323, or Susan Bressler-Railey, 301-468-3120, both for AIM 85/
 (AII)


CO: American Insured Mortgage Investors - Series 85 ST: Maryland IN: FIN SU: ERN

TW -- DC001 -- 4606 08/20/93 08:32 EDT
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Publication:PR Newswire
Date:Aug 20, 1993
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