America First Multifamily Investors To Issue 1 Mln Shares to Existing Investor For Limited Partnership Interest

America First Multifamily Investors (ATAX) entered into a follow-on subscription agreement with an existing investor Tuesday to issue 1 million series A preferred units which represent a limited, $10 million interest in 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 partnership will use the proceeds to acquire mortgage revenue bonds that are issued by state and local housing authorities to provide construction and/or permanent financing for affordable multifamily and student housing and commercial properties.

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