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America First Multifamily Investors announces sale of Jade Park MF property.

America First Multifamily Investors announced that on September 25, 2018, it sold Jade Park, a 144-unit property, held in its MF Property portfolio, located in Daytona, Florida for $13.45M. ATAX will realize a gross gain, before direct and indirect expenses, of approximately $4M to be recognized in the third quarter of 2018. In addition, Lake Forest, a 240-unit property contiguous to Jade Park, was sold by its owner. The mortgage revenue bond associated with Lake Forest and held by ATAX was redeemed. As a result of this sale, ATAX will realize interest, contingent interest and other income, before direct and indirect expenses, of approximately $10.4M in the third quarter of 2018.

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Publication:The Fly
Date:Oct 1, 2018
Words:113
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