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AIM 84 REPORTS SECOND QUARTER NET EARNINGS OF 9 CENTS PER UNIT

 AIM 84 REPORTS SECOND QUARTER NET EARNINGS OF 9 CENTS PER UNIT
 ROCKVILLE, Md., Aug. 19 /PRNewswire/ -- American Insured Mortgage Investors (AIM 84) (AMEX: AIA) reported net earnings for the three months ended June 30, 1992, of approximately $927,000 (9 cents per investment unit), compared with the prior year's second quarter total of approximately $790,000 (8 cents per investment unit).
 For the first six months of 1992 net earnings were approximately $2.0 million (19 cents per investment unit) compared with earnings for 1991's first six months of approximately $2.2 million (22 cents per investment unit).
 Net earnings for the second quarter of 1992 were higher than the same period in 1991 due, in part, to the loan loss recognized in 1991 on AIM 84's investment in the Clarke and Elm Apartments mortgage. AIM 84 received disposition proceeds from its investment in Clarke and Elm during the first quarter of 1992. This reduced AIM 84's mortgage base, resulting in decreased mortgage investment income and asset management fees during the period.
 Net earnings for the first six months of 1992 decreased compared to the same period of 1991 primarily due to the impact of the disposition of the Clarke and Elm mortgage. In addition, the net earnings for last year's first half included 90 percent of the gain recognized on the assignment of the mortgage on Foxfire West Apartments.
 The second quarter 1992 distribution to unitholders totaled 10 cents per unit. The 10 cents included regular cash flow for the period April 1 through June 30, 1992. There were no mortgage dispositions during the second quarter of 1992.
 At quarter-end, AIM 84 was invested in 18 mortgage investments on multifamily housing with total assets of approximately $47 million.
 AMERICAN INSURED MORTGAGE INVESTORS
 Statements of Operations
 (Unaudited)
 For the three months For the six months
 ended June 30, ended June 30,
 1992 1991 1992 1991
 Income:
 Mortgage investment
 income $1,125,943 $1,299,849 $2,290,642 $2,762,714
 Short-term interest
 and other income 55,851 22,725 195,349 33,226
 Total 1,181,794 1,322,574 2,485,991 2,795,940
 Expenses:
 Asset management
 fee to related
 parties 110,229 263,892 231,355 529,829
 General and
 administrative 144,414 101,526 279,858 201,450
 Total 254,643 365,418 511,213 731,279
 Earnings before
 dispositions 927,151 957,156 1,974,778 2,064,661
 Loan losses -- (167,299) (21,103) (167,299)
 Gain on mortgage
 dispositions -- -- -- 340,677
 Net earnings $927,151 $789,857 $1,953,675 $2,238,039
 Net earnings per
 investment unit $0.09 $0.08 $0.19 $0.22
 -0- 8/19/92
 /CONTACT: James T. Pastore, 301-231-0323, or Susan Bressler- Railey, 301-468-3120, for AIM 84/
 (AIA) CO: American Insured Mortgage Investors ST: Maryland IN: FIN SU: ERN


TW -- DC004 -- 1226 08/19/92 09:09 EDT
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Publication:PR Newswire
Date:Aug 19, 1992
Words:483
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