XML 47 R34.htm IDEA: XBRL DOCUMENT v3.7.0.1
Investments in Bonds (Tables)
3 Months Ended
Mar. 31, 2017
Investments In Mortgage Revenue Bonds [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The Partnership had the following investments in MRBs at March 31, 2017 and December 31, 2016:

 

 

 

March 31, 2017

 

Description of Mortgage Revenue Bonds Held in Trust

 

State

 

Cost Adjusted for

Paydowns

 

 

Cumulative

Unrealized Gain

 

 

Cumulative

Unrealized Loss

 

 

Estimated Fair Value

 

Courtyard - Series A & B (2)

 

CA

 

$

16,458,000

 

 

$

110,929

 

 

$

-

 

 

$

16,568,929

 

Glenview Apartments - Series A (4)

 

CA

 

 

4,659,536

 

 

 

243,342

 

 

 

-

 

 

 

4,902,878

 

Harmony Court Bakersfield - Series A & B (2)

 

CA

 

 

5,727,000

 

 

 

32,990

 

 

 

-

 

 

 

5,759,990

 

Harmony Terrace - Series A & B (2)

 

CA

 

 

14,300,000

 

 

 

225,094

 

 

 

-

 

 

 

14,525,094

 

Harden Ranch - Series A (3)

 

CA

 

 

6,896,254

 

 

 

458,986

 

 

 

-

 

 

 

7,355,240

 

Las Palmas II - Series A & B (2)

 

CA

 

 

3,465,000

 

 

 

55,226

 

 

 

-

 

 

 

3,520,226

 

Montclair Apartments - Series A (4)

 

CA

 

 

2,524,331

 

 

 

182,019

 

 

 

-

 

 

 

2,706,350

 

San Vicente - Series A & B (2)

 

CA

 

 

5,320,000

 

 

 

-

 

 

 

(30,004

)

 

 

5,289,996

 

Santa Fe Apartments - Series A (4)

 

CA

 

 

3,058,132

 

 

 

298,645

 

 

 

-

 

 

 

3,356,777

 

Seasons at Simi Valley - Series A (2)

 

CA

 

 

4,376,000

 

 

 

373,438

 

 

 

-

 

 

 

4,749,438

 

Seasons Lakewood - Series A & B (2)

 

CA

 

 

12,610,000

 

 

 

162,961

 

 

 

-

 

 

 

12,772,961

 

Seasons San Juan Capistrano - Series A & B (2)

 

CA

 

 

18,949,000

 

 

 

-

 

 

 

(117,692

)

 

 

18,831,308

 

Summerhill - Series A & B (2)

 

CA

 

 

9,795,000

 

 

 

140,099

 

 

 

-

 

 

 

9,935,099

 

Sycamore Walk - Series A (2)

 

CA

 

 

3,632,000

 

 

 

185,900

 

 

 

-

 

 

 

3,817,900

 

The Village at Madera - Series A & B (2)

 

CA

 

 

4,804,000

 

 

 

-

 

 

 

(31,581

)

 

 

4,772,419

 

Tyler Park Townhomes - Series A (3)

 

CA

 

 

6,009,773

 

 

 

314,519

 

 

 

-

 

 

 

6,324,292

 

Westside Village Market - Series A (3)

 

CA

 

 

3,927,375

 

 

 

152,881

 

 

 

-

 

 

 

4,080,256

 

Lake Forest (1)

 

FL

 

 

8,606,000

 

 

 

1,010,956

 

 

 

-

 

 

 

9,616,956

 

Ashley Square (1)

 

IA

 

 

5,024,000

 

 

 

417,085

 

 

 

-

 

 

 

5,441,085

 

Brookstone (1)

 

IL

 

 

7,460,242

 

 

 

1,689,582

 

 

 

-

 

 

 

9,149,824

 

Copper Gate Apartments (3)

 

IN

 

 

5,145,000

 

 

 

597,695

 

 

 

-

 

 

 

5,742,695

 

Renaissance - Series A (4)

 

LA

 

 

11,321,742

 

 

 

1,657,217

 

 

 

-

 

 

 

12,978,959

 

Live 929 Apartments (2)

 

MD

 

 

40,656,400

 

 

 

4,474,464

 

 

 

-

 

 

 

45,130,864

 

Woodlynn Village (1)

 

MN

 

 

4,310,000

 

 

 

387,771

 

 

 

-

 

 

 

4,697,771

 

Greens Property - Series A (3)

 

NC

 

 

8,189,000

 

 

 

990,540

 

 

 

-

 

 

 

9,179,540

 

Silver Moon - Series A (4)

 

NM

 

 

7,920,141

 

 

 

626,949

 

 

 

-

 

 

 

8,547,090

 

Ohio Properties - Series A (1)

 

OH

 

 

14,191,000

 

 

 

2,605,877

 

 

 

-

 

 

 

16,796,877

 

Bridle Ridge  (1)

 

SC

 

 

7,500,000

 

 

 

676,500

 

 

 

-

 

 

 

8,176,500

 

Columbia Gardens (2)

 

SC

 

 

15,211,629

 

 

 

-

 

 

 

(689,295

)

 

 

14,522,334

 

Companion at Thornhill Apartments (2)

 

SC

 

 

11,483,057

 

 

 

642,679

 

 

 

-

 

 

 

12,125,736

 

Cross Creek (1)

 

SC

 

 

6,126,494

 

 

 

2,774,745

 

 

 

-

 

 

 

8,901,239

 

The Palms at Premier Park Apartments (3)

 

SC

 

 

19,375,997

 

 

 

2,368,538

 

 

 

-

 

 

 

21,744,535

 

Willow Run (2)

 

SC

 

 

15,211,458

 

 

 

-

 

 

 

(682,914

)

 

 

14,528,544

 

Arbors at Hickory Ridge (3)

 

TN

 

 

11,432,508

 

 

 

1,100,249

 

 

 

-

 

 

 

12,532,757

 

Pro Nova 2014-1 (2)

 

TN

 

 

10,041,165

 

 

 

797,435

 

 

 

-

 

 

 

10,838,600

 

Avistar at Chase Hill - Series A (3)

 

TX

 

 

9,821,495

 

 

 

646,280

 

 

 

-

 

 

 

10,467,775

 

Avistar at Copperfield - Series A (2)

 

TX

 

 

10,000,000

 

 

 

981,390

 

 

 

-

 

 

 

10,981,390

 

Avistar at the Crest - Series A (3)

 

TX

 

 

9,526,850

 

 

 

747,812

 

 

 

-

 

 

 

10,274,662

 

Avistar at the Oaks - Series A (3)

 

TX

 

 

7,691,162

 

 

 

708,946

 

 

 

-

 

 

 

8,400,108

 

Avistar at the Parkway - Series A (4)

 

TX

 

 

13,300,000

 

 

 

912,068

 

 

 

-

 

 

 

14,212,068

 

Avistar at Wilcrest - Series A (2)

 

TX

 

 

3,775,000

 

 

 

288,734

 

 

 

-

 

 

 

4,063,734

 

Avistar at Wood Hollow - Series A (2)

 

TX

 

 

31,850,000

 

 

 

2,663,590

 

 

 

-

 

 

 

34,513,590

 

Avistar in 09 - Series A (3)

 

TX

 

 

6,641,021

 

 

 

482,819

 

 

 

-

 

 

 

7,123,840

 

Avistar on the Boulevard - Series A (3)

 

TX

 

 

16,230,017

 

 

 

1,590,214

 

 

 

-

 

 

 

17,820,231

 

Avistar on the Hills - Series A (3)

 

TX

 

 

5,313,805

 

 

 

420,499

 

 

 

-

 

 

 

5,734,304

 

Bella Vista (1)

 

TX

 

 

6,365,000

 

 

 

645,602

 

 

 

-

 

 

 

7,010,602

 

Bruton Apartments (2)

 

TX

 

 

18,135,889

 

 

 

2,262,691

 

 

 

-

 

 

 

20,398,580

 

Concord at Gulfgate - Series A (2)

 

TX

 

 

19,185,000

 

 

 

2,002,365

 

 

 

-

 

 

 

21,187,365

 

Concord at Little York - Series A (2)

 

TX

 

 

13,440,000

 

 

 

1,402,751

 

 

 

-

 

 

 

14,842,751

 

Concord at Williamcrest - Series A (2)

 

TX

 

 

20,820,000

 

 

 

1,953,644

 

 

 

-

 

 

 

22,773,644

 

Crossing at 1415 - Series A (2)

 

TX

 

 

7,590,000

 

 

 

91,901

 

 

 

-

 

 

 

7,681,901

 

Decatur Angle (2)

 

TX

 

 

22,912,234

 

 

 

1,541,021

 

 

 

-

 

 

 

24,453,255

 

Heights at 515 - Series A (2)

 

TX

 

 

6,435,000

 

 

 

362,774

 

 

 

-

 

 

 

6,797,774

 

Heritage Square - Series A (4)

 

TX

 

 

11,137,303

 

 

 

899,415

 

 

 

-

 

 

 

12,036,718

 

Oaks at Georgetown - Series A & B (2)

 

TX

 

 

17,842,000

 

 

 

-

 

 

 

(6,057

)

 

 

17,835,943

 

Runnymede (1)

 

TX

 

 

10,250,000

 

 

 

1,387,645

 

 

 

-

 

 

 

11,637,645

 

Southpark (1)

 

TX

 

 

11,770,930

 

 

 

3,605,964

 

 

 

-

 

 

 

15,376,894

 

Vantage at Harlingen - Series B (4)

 

TX

 

 

24,483,475

 

 

 

1,389,153

 

 

 

-

 

 

 

25,872,628

 

Vantage at Judson -Series B (4)

 

TX

 

 

26,304,679

 

 

 

2,175,003

 

 

 

-

 

 

 

28,479,682

 

15 West Apartments (2)

 

WA

 

 

9,840,735

 

 

 

1,352,502

 

 

 

-

 

 

 

11,193,237

 

Mortgage revenue bonds held in trust

 

 

 

$

676,378,829

 

 

$

56,270,094

 

 

$

(1,557,543

)

 

$

731,091,380

 

 

(1)

MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15

(2)

MRBs held by Deutsche Bank in a secured financing transaction, Note 15

(3)

MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15

(4)

MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15

 

 

 

March 31, 2017

 

Description of Mortgage Revenue Bonds held by the Partnership

 

State

 

Cost Adjusted for

Paydowns

 

 

Cumulative

Unrealized Gain

 

 

Cumulative

Unrealized Loss

 

 

Estimated Fair Value

 

Seasons at Simi Valley - Series B

 

CA

 

 

1,944,000

 

 

 

20,065

 

 

 

-

 

 

 

1,964,065

 

Sycamore Walk - Series B

 

CA

 

 

1,815,000

 

 

 

-

 

 

 

(17,134

)

 

 

1,797,866

 

Greens Property - Series B

 

NC

 

 

939,743

 

 

 

130,989

 

 

 

-

 

 

 

1,070,732

 

Ohio Properties - Series B

 

OH

 

 

3,546,470

 

 

 

505,116

 

 

 

-

 

 

 

4,051,586

 

Avistar at Chase Hill - Series B

 

TX

 

 

956,476

 

 

 

13,545

 

 

 

-

 

 

 

970,021

 

Avistar at Copperfield - Series B

 

TX

 

 

4,000,000

 

 

 

151,942

 

 

 

-

 

 

 

4,151,942

 

Avistar at the Crest - Series B

 

TX

 

 

752,296

 

 

 

76,170

 

 

 

-

 

 

 

828,466

 

Avistar at the Oaks - Series B

 

TX

 

 

550,200

 

 

 

56,026

 

 

 

-

 

 

 

606,226

 

Avistar at the Parkway - Series B

 

TX

 

 

125,000

 

 

 

6,657

 

 

 

-

 

 

 

131,657

 

Avistar at Wilcrest - Series B

 

TX

 

 

1,550,000

 

 

 

14,359

 

 

 

-

 

 

 

1,564,359

 

Avistar at Wood Hollow - Series B

 

TX

 

 

8,410,000

 

 

 

426,910

 

 

 

-

 

 

 

8,836,910

 

Avistar in 09 - Series B

 

TX

 

 

453,865

 

 

 

46,217

 

 

 

-

 

 

 

500,082

 

Avistar on the Boulevard - Series B

 

TX

 

 

447,016

 

 

 

45,261

 

 

 

-

 

 

 

492,277

 

Crossing at 1415 - Series B

 

TX

 

 

335,000

 

 

 

1,319

 

 

 

-

 

 

 

336,319

 

Heights at 515 - Series B

 

TX

 

 

510,000

 

 

 

2,008

 

 

 

-

 

 

 

512,008

 

Mortgage revenue bonds held by the Partnership

 

 

 

$

26,335,066

 

 

$

1,496,584

 

 

$

(17,134

)

 

$

27,814,516

 

 

 

 

December 31, 2016

 

Description of Mortgage Revenue Bonds Held in Trust

 

State

 

Cost Adjusted for

Paydowns

 

 

Cumulative

Unrealized Gain

 

 

Cumulative

Unrealized Loss

 

 

Estimated Fair Value

 

Glenview Apartments - Series A (4)

 

CA

 

$

4,670,000

 

 

$

132,402

 

 

$

-

 

 

$

4,802,402

 

Harmony Terrace - Series A & B (2)

 

CA

 

 

14,300,000

 

 

 

-

 

 

 

-

 

 

 

14,300,000

 

Harden Ranch - Series A (3)

 

CA

 

 

6,912,535

 

 

 

369,738

 

 

 

-

 

 

 

7,282,273

 

Montclair Apartments - Series A (4)

 

CA

 

 

2,530,000

 

 

 

108,608

 

 

 

-

 

 

 

2,638,608

 

Santa Fe Apartments - Series A (4)

 

CA

 

 

3,065,000

 

 

 

177,093

 

 

 

-

 

 

 

3,242,093

 

Seasons at Simi Valley - Series A (2)

 

CA

 

 

4,376,000

 

 

 

308,335

 

 

 

-

 

 

 

4,684,335

 

Sycamore Walk - Series A (2)

 

CA

 

 

3,632,000

 

 

 

130,431

 

 

 

-

 

 

 

3,762,431

 

Tyler Park Townhomes - Series A (3)

 

CA

 

 

6,024,120

 

 

 

237,582

 

 

 

-

 

 

 

6,261,702

 

Westside Village Market - Series A (3)

 

CA

 

 

3,936,750

 

 

 

102,641

 

 

 

-

 

 

 

4,039,391

 

Lake Forest (1)

 

FL

 

 

8,639,000

 

 

 

899,694

 

 

 

-

 

 

 

9,538,694

 

Ashley Square (1)

 

IA

 

 

5,039,000

 

 

 

338,556

 

 

 

-

 

 

 

5,377,556

 

Brookstone (1)

 

IL

 

 

7,462,678

 

 

 

1,457,340

 

 

 

-

 

 

 

8,920,018

 

Copper Gate Apartments (3)

 

IN

 

 

5,145,000

 

 

 

528,855

 

 

 

-

 

 

 

5,673,855

 

Renaissance - Series A (4)

 

LA

 

 

11,348,364

 

 

 

826,369

 

 

 

-

 

 

 

12,174,733

 

Live 929 Apartments (2)

 

MD

 

 

40,687,425

 

 

 

3,587,993

 

 

 

-

 

 

 

44,275,418

 

Woodlynn Village (1)

 

MN

 

 

4,310,000

 

 

 

294,976

 

 

 

-

 

 

 

4,604,976

 

Greens Property - Series A (3)

 

NC

 

 

8,210,000

 

 

 

844,585

 

 

 

-

 

 

 

9,054,585

 

Silver Moon - Series A (4)

 

NM

 

 

7,933,259

 

 

 

465,382

 

 

 

-

 

 

 

8,398,641

 

Ohio Properties - Series A (1)

 

OH

 

 

14,215,000

 

 

 

2,327,468

 

 

 

-

 

 

 

16,542,468

 

Bridle Ridge  (1)

 

SC

 

 

7,535,000

 

 

 

517,881

 

 

 

-

 

 

 

8,052,881

 

Columbia Gardens (2)

 

SC

 

 

15,214,223

 

 

 

-

 

 

 

(927,030

)

 

 

14,287,193

 

Companion at Thornhill Apartments (2)

 

SC

 

 

11,500,000

 

 

 

645,552

 

 

 

-

 

 

 

12,145,552

 

Cross Creek (1)

 

SC

 

 

6,122,312

 

 

 

2,655,730

 

 

 

-

 

 

 

8,778,042

 

The Palms at Premier Park Apartments (3)

 

SC

 

 

19,826,716

 

 

 

1,784,386

 

 

 

-

 

 

 

21,611,102

 

Willow Run (2)

 

SC

 

 

15,214,085

 

 

 

-

 

 

 

(917,852

)

 

 

14,296,233

 

Arbors at Hickory Ridge (3)

 

TN

 

 

11,461,719

 

 

 

891,274

 

 

 

-

 

 

 

12,352,993

 

Pro Nova 2014-1 (2)

 

TN

 

 

10,041,924

 

 

 

685,576

 

 

 

-

 

 

 

10,727,500

 

Avistar at Chase Hill - Series A (3)

 

TX

 

 

9,844,994

 

 

 

589,023

 

 

 

-

 

 

 

10,434,017

 

Avistar at the Crest - Series A (3)

 

TX

 

 

9,549,644

 

 

 

753,267

 

 

 

-

 

 

 

10,302,911

 

Avistar at the Oaks - Series A (3)

 

TX

 

 

7,709,040

 

 

 

563,138

 

 

 

-

 

 

 

8,272,178

 

Avistar at the Parkway - Series A (4)

 

TX

 

 

13,300,000

 

 

 

-

 

 

 

(78,749

)

 

 

13,221,251

 

Avistar in 09 - Series A (3)

 

TX

 

 

6,656,458

 

 

 

359,562

 

 

 

-

 

 

 

7,016,020

 

Avistar on the Boulevard - Series A (3)

 

TX

 

 

16,268,850

 

 

 

1,283,272

 

 

 

-

 

 

 

17,552,122

 

Avistar on the Hills - Series A (3)

 

TX

 

 

5,326,157

 

 

 

423,496

 

 

 

-

 

 

 

5,749,653

 

Bella Vista (1)

 

TX

 

 

6,365,000

 

 

 

500,162

 

 

 

-

 

 

 

6,865,162

 

Bruton Apartments (2)

 

TX

 

 

18,145,000

 

 

 

349,886

 

 

 

-

 

 

 

18,494,886

 

Concord at Gulfgate - Series A (2)

 

TX

 

 

19,185,000

 

 

 

1,200,246

 

 

 

-

 

 

 

20,385,246

 

Concord at Little York - Series A (2)

 

TX

 

 

13,440,000

 

 

 

1,044,752

 

 

 

-

 

 

 

14,484,752

 

Concord at Williamcrest - Series A (2)

 

TX

 

 

20,820,000

 

 

 

1,302,534

 

 

 

-

 

 

 

22,122,534

 

Crossing at 1415 - Series A (2)

 

TX

 

 

7,590,000

 

 

 

-

 

 

 

(45,555

)

 

 

7,544,445

 

Decatur Angle (2)

 

TX

 

 

22,950,214

 

 

 

-

 

 

 

(290,985

)

 

 

22,659,229

 

Heights at 515 - Series A (2)

 

TX

 

 

6,435,000

 

 

 

-

 

 

 

(38,623

)

 

 

6,396,377

 

Heritage Square - Series A (4)

 

TX

 

 

11,161,330

 

 

 

905,455

 

 

 

-

 

 

 

12,066,785

 

Oaks at Georgetown - Series A & B (2)

 

TX

 

 

17,842,000

 

 

 

-

 

 

 

-

 

 

 

17,842,000

 

Runnymede (1)

 

TX

 

 

10,250,000

 

 

 

774,285

 

 

 

-

 

 

 

11,024,285

 

Southpark (1)

 

TX

 

 

11,751,861

 

 

 

3,286,203

 

 

 

-

 

 

 

15,038,064

 

Vantage at Harlingen - Series B (4)

 

TX

 

 

24,529,580

 

 

 

917,720

 

 

 

-

 

 

 

25,447,300

 

Vantage at Judson -Series B (4)

 

TX

 

 

26,356,498

 

 

 

1,658,508

 

 

 

-

 

 

 

28,015,006

 

15 West Apartments (2)

 

WA

 

 

9,850,000

 

 

 

1,584,281

 

 

 

-

 

 

 

11,434,281

 

Mortgage revenue bonds held in trust

 

 

 

$

554,678,736

 

 

$

37,814,237

 

 

$

(2,298,794

)

 

$

590,194,179

 

 

(1)

MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15

(2)

MRBs held by Deutsche Bank in a secured financing transaction, Note 15

(3)

MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15

(4)

MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15

 

 

 

December 31, 2016

 

Description of Mortgage Revenue Bonds held by the Partnership

 

State

 

Cost Adjusted for

Paydowns

 

 

Cumulative

Unrealized Gain

 

 

Cumulative

Unrealized Loss

 

 

Estimated Fair Value

 

Courtyard - Series A & B

 

CA

 

$

16,458,000

 

 

$

-

 

 

$

-

 

 

$

16,458,000

 

Harmony Court Bakersfield - Series A & B

 

CA

 

 

5,727,000

 

 

 

29,252

 

 

 

-

 

 

 

5,756,252

 

Las Palmas II - Series A & B

 

CA

 

 

3,465,000

 

 

 

15,139

 

 

 

-

 

 

 

3,480,139

 

San Vicente - Series A & B

 

CA

 

 

5,320,000

 

 

 

-

 

 

 

(30,019

)

 

 

5,289,981

 

Seasons at Simi Valley - Series B

 

CA

 

 

1,944,000

 

 

 

27,727

 

 

 

-

 

 

 

1,971,727

 

Seasons Lakewood - Series A & B

 

CA

 

 

12,610,000

 

 

 

-

 

 

 

-

 

 

 

12,610,000

 

Seasons San Juan Capistrano - Series A & B

 

CA

 

 

18,949,000

 

 

 

-

 

 

 

-

 

 

 

18,949,000

 

Summerhill - Series A & B

 

CA

 

 

9,795,000

 

 

 

-

 

 

 

(174,982

)

 

 

9,620,018

 

Sycamore Walk - Series B

 

CA

 

 

1,815,000

 

 

 

-

 

 

 

(64,432

)

 

 

1,750,568

 

The Village at Madera - Series A & B

 

CA

 

 

4,804,000

 

 

 

-

 

 

 

(84,437

)

 

 

4,719,563

 

Greens Property - Series B

 

NC

 

 

940,479

 

 

 

118,216

 

 

 

-

 

 

 

1,058,695

 

Ohio Properties - Series B

 

OH

 

 

3,549,780

 

 

 

449,068

 

 

 

-

 

 

 

3,998,848

 

Avistar at Chase Hill - Series B

 

TX

 

 

957,627

 

 

 

41,820

 

 

 

-

 

 

 

999,447

 

Avistar at the Crest - Series B

 

TX

 

 

753,201

 

 

 

64,228

 

 

 

-

 

 

 

817,429

 

Avistar at the Oaks - Series B

 

TX

 

 

550,836

 

 

 

47,231

 

 

 

-

 

 

 

598,067

 

Avistar at the Parkway - Series B

 

TX

 

 

125,000

 

 

 

-

 

 

 

(3,341

)

 

 

121,659

 

Avistar in 09 - Series B

 

TX

 

 

454,390

 

 

 

38,961

 

 

 

-

 

 

 

493,351

 

Avistar on the Boulevard - Series B

 

TX

 

 

447,554

 

 

 

38,165

 

 

 

-

 

 

 

485,719

 

Crossing at 1415 - Series B

 

TX

 

 

335,000

 

 

 

-

 

 

 

(2,614

)

 

 

332,386

 

Heights at 515 - Series B

 

TX

 

 

510,000

 

 

 

-

 

 

 

(3,977

)

 

 

506,023

 

Mortgage revenue bonds held by the Partnership

 

 

 

$

89,510,867

 

 

$

869,807

 

 

$

(363,802

)

 

$

90,016,872

 

 

Investments Classified by Contractual Maturity Date

The following table includes the details of the MRB acquisitions during the three months ended March 31, 2017:

 

Property Name

 

Month

Acquired

 

Property Location

 

Units

 

 

Maturity Date

 

Base Interest Rate

 

 

Principal

Outstanding at Date

of Acquisition

 

Avistar at Copperfield - Series A

 

February

 

Houston, TX

 

 

192

 

 

5/1/2054

 

 

5.75

%

 

$

10,000,000

 

Avistar at Copperfield - Series B

 

February

 

Houston, TX

 

 

192

 

 

6/1/2054

 

 

12.00

%

 

 

4,000,000

 

Avistar at Wilcrest - Series A

 

February

 

Houston, TX

 

 

88

 

 

5/1/2054

 

 

5.75

%

 

 

3,775,000

 

Avistar at Wilcrest - Series B

 

February

 

Houston, TX

 

 

88

 

 

6/1/2054

 

 

12.00

%

 

 

1,550,000

 

Avistar at Wood Hollow - Series A

 

February

 

Austin, TX

 

 

409

 

 

5/1/2054

 

 

5.75

%

 

 

31,850,000

 

Avistar at Wood Hollow - Series B

 

February

 

Austin, TX

 

 

409

 

 

6/1/2054

 

 

12.00

%

 

 

8,410,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

59,585,000

 

The following table includes details of the MRB redeemed:

 

Property Name

 

Month

Exchanged

 

Property Location

 

Units

 

 

Maturity Date

 

Base Interest Rate

 

 

Principal

Outstanding at Date of Exchange

 

Pro Nova - 2014B 1

 

March

 

Knoxville, TN

 

 

-

 

 

5/1/2025

 

 

5.25

%

 

$

9,295,000

 

 

1 This is a commercial property. Accordingly, unit information is not applicable.

The following table includes the details of the MRB acquisitions during the three months ended March 31, 2016:

 

Property Name

 

Month

Acquired

 

Property Location

 

Units

 

 

Maturity Date

 

Base Interest Rate

 

 

Principal

Outstanding at Date

of Acquisition

 

Companion at Thornhill Apartments

 

January

 

Lexington, SC

 

 

178

 

 

1/1/2052

 

 

5.80

%

 

$

11,500,000