Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2015

Variable Interest Entities [Abstract]

Variable Interest Entity, Classification of Carrying Amount, Assets [Table Text Block]

The following table presents information regarding the classification of the assets at their carrying value and maximum exposure to loss held by the Partnership as of March 31, 2015, which constitute VIEs:

	March 31, 2015
	Balance Sheet Classification				Maximum Exposure to Loss
	Mortgage Revenue Bond		Property Loan		Mortgage Revenue Bond		Property Loan
Ashley Square Apartments	$	5,642,269	$	1,482,000	$	5,144,000	$	7,635,520
Bruton Apartments	19,443,819		—		18,145,000		—
Cross Creek	8,547,448		3,586,115		6,082,064		3,586,115
Glenview Apartments	6,855,286		—		6,723,000		—
Harden Ranch	9,920,953		—		9,300,000		—
Montclair Apartments	3,606,478		—		3,458,000		—
Santa Fe Apartments	4,856,631		—		4,736,000		—
Tyler Park Apartments	8,474,338		—		8,100,000		—
Westside Village Market	5,644,156		—		5,400,000		—
	$	72,991,378	$	5,068,115	$	67,088,064	$	11,221,635

Schedule of Condensed Income Statement [Table Text Block]

Condensed Consolidating Statements of Operations for the three months ended March 31, 2015 and 2014:

	Partnership For the Three Months Ended March 31, 2015			Consolidated VIEs For the Three Months Ended March 31, 2015			Consolidation -Elimination For the Three Months Ended March 31, 2015			Total For the Three Months Ended March 31, 2015
Revenues:
Property revenues	$	4,302,301		$	804,068		$	—		$	5,106,369
Investment income	8,210,394			—			(230,610		)	7,979,784
Other interest income	224,540			—			—			224,540
Total revenues	12,737,235			804,068			(230,610		)	13,310,693
Expenses:
Real estate operating (exclusive of items shown below)	2,471,030			487,575			—			2,958,605
Depreciation and amortization	1,794,814			243,729			(6,645		)	2,031,898
Interest	3,994,156			569,934			(574,969		)	3,989,121
General and administrative	1,807,481			—			—			1,807,481
Total expenses	10,067,481			1,301,238			(581,614		)	10,787,105
Net income (loss)	2,669,754			(497,170		)	351,004			2,523,588
Net loss attributable to noncontrolling interest	(891		)	—			—			(891		)
Net income (loss) - America First Multifamily Investors, L. P.	$	2,670,645		$	(497,170	)	$	351,004		$	2,524,479

	Partnership For the Three Months Ended March 31, 2014			Consolidated VIEs For the Three Months Ended March 31, 2014			Consolidation -Elimination For the Three Months Ended March 31, 2014			Total For the Three Months Ended March 31, 2014
Revenues:
Property revenues	$	3,150,344		$	800,872		$	—		$	3,951,216
Investment income	6,438,835			—			(233,277		)	6,205,558
Gain on mortgage revenue bond - redemption	2,835,243			—			—			2,835,243
Other interest income	208,823			—			—			208,823
Total revenues	12,633,245			800,872			(233,277		)	13,200,840
Expenses:
Real estate operating (exclusive of items shown below)	1,650,647			449,646			—			2,100,293
Depreciation and amortization	1,382,626			237,440			(6,720		)	1,613,346
Interest	2,169,549			557,884			(557,884		)	2,169,549
General and administrative	1,270,926			—			—			1,270,926
Total expenses	6,473,748			1,244,970			(564,604		)	7,154,114
Net income (loss)	6,159,497			(444,098		)	331,327			6,046,726
Net loss attributable to noncontrolling interest	(103		)	—			—			(103		)
Net income (loss) - America First Multifamily Investors, L. P.	$	6,159,600		$	(444,098	)	$	331,327		$	6,046,829

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheets as of March 31, 2015 and December 31, 2014:

	Partnership as of March 31, 2015			Consolidated VIEs as of March 31, 2015			Consolidation -Elimination as of March 31, 2015			Total as of March 31, 2015
Assets
Cash and cash equivalents	$	24,180,224		$	25,023		$	—		$	24,205,247
Restricted cash	7,350,135			486,707			—			7,836,842
Interest receivable	6,476,392			—			(670,102		)	5,806,290
Mortgage revenue bonds held in trust, at fair value	442,029,721			—			(16,006,874		)	426,022,847
Mortgage revenue bonds, at fair value	81,875,851			—			—			81,875,851
Public housing capital fund trusts, at fair value	60,272,941			—			—			60,272,941
Mortgage-backed securities, at fair value	14,884,339			—			—			14,884,339
Real estate assets:
Land and improvements	13,754,093			1,836,400			—			15,590,493
Buildings and improvements	110,742,966			21,257,476			—			132,000,442
Real estate assets before accumulated depreciation	124,497,059			23,093,876			—			147,590,935
Accumulated depreciation	(15,513,016		)	(10,814,129		)	—			(26,327,145		)
Net real estate assets	108,984,043			12,279,747			—			121,263,790
Other assets	41,298,994			377,523			(11,112,296		)	30,564,221
Total Assets	$	787,352,640		$	13,169,000		$	(27,789,272	)	$	772,732,368
Liabilities
Accounts payable, accrued expenses and other liabilities	$	4,623,103		$	22,479,786		$	(22,107,352	)	$	4,995,537
Distribution payable	7,607,693			—			—			7,607,693
Debt financing	379,307,493			—			—			379,307,493
Mortgage payable	76,445,451			14,686,000			(14,686,000		)	76,445,451
Derivative swap	1,165,855			—			—			1,165,855
Total Liabilities	469,149,595			37,165,786			(36,793,352		)	469,522,029
Partners' Capital
General Partner	512,533			—			—			512,533
Beneficial Unit Certificate holders	317,707,398			—			6,244,916			323,952,314
Unallocated loss of Consolidated VIEs	—			(23,996,786		)	2,759,164			(21,237,622		)
Total Partners' Capital	318,219,931			(23,996,786		)	9,004,080			303,227,225
Noncontrolling interest	(16,886		)	—			—			(16,886		)
Total Capital	318,203,045			(23,996,786		)	9,004,080			303,210,339
Total Liabilities and Partners' Capital	$	787,352,640		$	13,169,000		$	(27,789,272	)	$	772,732,368

	Partnership as of December 31, 2014			Consolidated VIEs as of December 31, 2014			Consolidation -Elimination as of December 31, 2014			Total as of December 31, 2014
Assets
Cash and cash equivalents	$	49,157,571		$	35,772		$	—		$	49,193,343
Restricted cash	11,141,496			544,233			—			11,685,729
Interest receivable	4,791,828			—			(670,342		)	4,121,486
Mortgage revenue bonds held in trust, at fair value	394,568,208			—			(16,145,116		)	378,423,092
Mortgage revenue bonds, at fair value	70,601,045			—			—			70,601,045
Public housing capital fund trusts, at fair value	61,263,123			—			—			61,263,123
Mortgage-backed securities, at fair value	14,841,558			—			—			14,841,558
Real estate assets:
Land and improvements	13,753,493			1,836,400			—			15,589,893
Buildings and improvements	110,706,173			21,204,048			—			131,910,221
Real estate assets before accumulated depreciation	124,459,666			23,040,448			—			147,500,114
Accumulated depreciation	(14,108,154		)	(10,583,646		)	—			(24,691,800		)
Net real estate assets	110,351,512			12,456,802			—			122,808,314
Other assets	41,958,914			420,054			(11,077,441		)	31,301,527
Total Assets	$	758,675,255		$	13,456,861		$	(27,892,899	)	$	744,239,217
Liabilities
Accounts payable, accrued expenses and other liabilities	$	4,123,346		$	22,225,477		$	(21,721,734	)	$	4,627,089
Distribution payable	7,617,390			—			—			7,617,390
Debt financing	345,359,000			—			—			345,359,000
Mortgages payable	76,707,834			14,731,000			(14,731,000		)	76,707,834
Total Liabilities	433,807,570			36,956,477			(36,452,734		)	434,311,313
Partners' Capital
General Partner	578,238			—			—			578,238
Beneficial Unit Certificate holders	324,305,442			—			6,151,675			330,457,117
Unallocated deficit of Consolidated VIEs	—			(23,499,616		)	2,408,160			(21,091,456		)
Total Partners' Capital	324,883,680			(23,499,616		)	8,559,835			309,943,899
Noncontrolling interest	(15,995		)	—			—			(15,995		)
Total Capital	324,867,685			(23,499,616		)	8,559,835			309,927,904
Total Liabilities and Partners' Capital	$	758,675,255		$	13,456,861		$	(27,892,899	)	$	744,239,217