America First Multifamily Investors, L.P. Announces Sale of Vantage at Westover Hills

OMAHA, Neb., May 17, 2022 (GLOBE NEWSWIRE) -- America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) announced today that on May 11, 2022, Vantage at Westover Hills, a 288-unit market rate multifamily property located in San Antonio, TX, was sold at the direction of the managing member of Vantage at Westover Hills LLC (the “Property Owner”). The Partnership’s investment in the property was originated in January 2020 and the Partnership contributed equity totaling approximately $7.3 million during construction. As a result of the sale, the Partnership’s equity investment in the Property Owner was redeemed. At closing of the sale, the Partnership received net cash of approximately $20.9 million, inclusive of the return of its contributed equity. The Partnership will recognize the following in the second quarter of 2022: