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AIM 85 REPORTS FIRST QUARTER EARNINGS OF 30 CENTS PER UNIT

 AIM 85 REPORTS FIRST QUARTER EARNINGS OF 30 CENTS PER UNIT
 ROCKVILLE, Md., June 4 /PRNewswire/ -- American Insured Mortgage Investors - Series 85, L.P. (AIM 85) (AMEX: AII) reported net earnings for the three months ended March 31, 1992, of approximately $3.8 million (30 cents per investment unit), compared with the prior year's first quarter total of approximately $3.9 million (31 cents per investment unit).
 Net earnings remained fairly stable because a decrease in mortgage investment income was partly offset by lower asset management fees paid to AIM 85's adviser.
 Mortgage investment income decreased primarily because AIM 85 stopped accruing interest, for financial statement purposes, on two co-insured mortgages which are in default. Asset management fees decreased as a result of both a decrease in the mortgage base and the Oct. 1, 1991, reduction in the asset management fee percentage paid to AIM 85's adviser.
 Shortly after the quarter's end, on April 8, 1992, AIM 85 units moved from NASDAQ quotations to American Stock Exchange trading.
 At quarter end, AIM 85 was invested in 75 mortgage investments on multifamily housing with total assets of approximately $227.7 million.
 AMERICAN INSURED MORTGAGE INVESTORS - SERIES 85, L.P.
 Statements of Operations
 (Unaudited)
 For the three months
 ended March 31,
 1992 1991
 Income:
 Mortgage investment income $ 3,693,558 $ 4,586,456
 Interest and other income 787,262 209,847
 Total 4,480,820 4,796,303
 Expenses:
 Asset management fee
 to related parties 432,458 824,147
 General and administrative 338,319 227,919
 Total 770,777 1,052,066
 Earnings before dispositions
 and loan losses 3,710,043 3,744,237
 Gain on mortgage dispositions -- 340,677
 Loan losses 46,930 (195,874)
 Net Earnings 3,756,973 3,889,040
 Net earnings
 per investment unit 0.30 0.31
 -0- 6/4/92
 /CONTACT: James T. Pastore, 310-231-0323, or Susan Bressler, 301-468-3120, both for American Insured Mortgage Investors - Series 85, L.P./
 (AII) CO: American Insured Mortgage Investors - Series 85, L.P. ST: Maryland IN: FIN SU: ERN


TW -- DC017 -- 7047 06/04/92 12:30 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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