America First Multifamily Investors, L.P. Announces Sale of Vantage at O’Connor

OMAHA, Neb., July 20, 2022 (GLOBE NEWSWIRE) -- America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) announced today that on July 18, 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 O’Connor LLC (the “Property Owner”). The Partnership’s investment in the property was originated in October 2019 and the Partnership contributed equity totaling $7.4 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 $19.4 million, inclusive of the return of its contributed equity. The Partnership will recognize the following in the third quarter of 2022: