OMAHA, Neb., May 05, 2017 (GLOBE NEWSWIRE) — On May 5, 2017, America First Multifamily Investors, L.P. (Nasdaq: ATAX) (the “Partnership”) reported the following operating results:

For the quarter ended March 31, 2017

The Partnership reported the following notable transactions during the first quarter of 2017:

On March 3, 2017, the Partnership entered into a follow-on Subscription Agreement with an existing investor in the Preferred Units, to issue 613,100 Series A Preferred Units representing limited partnership interests in the Partnership (the “Preferred Units”), resulting in $6,131,000 in aggregate proceeds to the Partnership.In addition, on March 31, 2017, the Partnership entered into an additional follow-on Subscription Agreement with another existing investor in the Preferred Units, to issue 1,000,000 Series A Preferred Units representing limited partnership interests in the Partnership, resulting in $10 million in aggregate proceeds to the Partnership. 

The Preferred Units (which are non-cumulative, non-convertible and non-voting) are a class of limited partnership interests in the Partnership and are being issued pursuant to a private placement of up to a maximum of $100 million. The Private Placement is directed solely to insured depository institutions chartered under the laws of any state or the District of Columbia, or of the United States.  The Partnership will use the proceeds to acquire mortgage revenue bonds issued by state and local housing authorities to provide construction and/or permanent financing for affordable multifamily and student housing properties.At March 31, 2017, the Partnership has issued approximately 5.7 million Preferred Units with aggregate gross proceeds of approximately $57.0 million.