America First Multifamily Investors, L.P. Announces Board Changes, Effective Upon the Closing of the Transaction
August 30, 2019 at 08:15 am
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America First Capital Associates Limited Partnership Two, a Delaware limited partnership (the “General Partner”) is the general partner of the registrant, America First Multifamily Investors, L.P., a Delaware limited partnership (the “Partnership”). On August 29, 2019, Burlington Capital LLC, a Delaware limited liability company (“Burlington”), which is the general partner of the General Partner, Burlington Capital Structured Finance, LLC, a Delaware limited liability company (“BCSF,” and collectively with Burlington, the “Sellers”), Greystone AF Manager LLC, a Delaware limited liability company (“Greystone Manager”), and Greystone AF Holdings LLC, a Delaware limited liability company (“Greystone Holdings,” and collectively with Greystone Manager, “Greystone”), entered into a Partnership Interest Purchase Agreement (the “Purchase Agreement”) pursuant to which Greystone agreed to acquire all of the issued and outstanding general and limited partnership interests in the General Partner from Burlington and BCSF for $80,000,000 in cash, subject to adjustment pursuant to the terms of the Purchase Agreement (the “Transaction”). Effective upon the closing of the Transaction, the members of the Board of Managers of Burlington (the “Board”) will resign as to their roles with respect to the Partnership, namely in their capacities as the equivalent of directors of the Partnership. Correspondingly, effective as of the closing, Greystone will appoint persons to act as the directors of the Partnership and as members of a body acting in the capacity of an Audit Committee of the Partnership to satisfy applicable requirements of law, including but not limited to the rules and regulations of the SEC and the listing rules of the NASDAQ Stock Market LLC.
Greystone Housing Impact Investors LP is engaged in acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds (MRBs). The Company's segments include Affordable Multifamily MRB Investments, Seniors and Skilled Nursing MRB Investments, MF Properties, and Market-Rate Joint Venture Investments. The Affordable Multifamily MRB Investments segment consists of its portfolio of MRBs, governmental issuer loans (GILs) and related property loans that offer construction and/or permanent financing for multifamily residential and commercial properties in their market areas. The Seniors and Skilled Nursing MRB Investments segment provides acquisition, construction and permanent financing for seniors housing and skilled nursing properties. The Market-Rate Joint Venture Investments segment consists of its noncontrolling joint venture equity investments in market-rate multifamily properties. The MF Properties segment consists of student housing residential properties.