| Business Summary | | America
First
Real
Estate
Investment
Partners,
L.P.
is
engaged
in
acquiring,
holding,
operating,
selling
and
otherwise
dealing
primarily
with
multi-family
residential
properties,
including
the
acquisition
of
debt
and
equity
securities
of
entities
engaged
in
similar
activities.
America
First
began
operations
on
December
31,
2000
when
it
merged
with
Capital
Source
L.P.
and
Capital
Source
II
L.P.-A,
with
the
Company
being
the
surviving
entity.
As
a
result
of
the
merger,
the
Company
became
the
limited
partner
of
10
limited
partnerships
(Operating
Partnerships)
that
own
apartment
complexes
(the
Apartment
Complexes)
located
throughout
the
United
States,
including
three
in
North
Carolina,
two
each
in
Florida
and
Michigan
and
one
each
in
Ohio,
Virginia
and
Illinois.
The
Company
owns
a
98.99%
limited
partnership
interest
in
nine
of
these
Operating
Partnerships
and
a
99.99%
limited
partnership
interest
in
the
tenth
Operating
Partnership. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | AFREZ
was
formed
for
the
purpose
of
acquiring,
holding,
operating,
selling
and
otherwise
dealing
primarily
with
multifamily
residential
properties,
including
the
acquisition
of
debt
and
equity
securities.
For
the
three
months
ended
3/31/01,
net
revenue
rose
59%
to
$1.5
million.
Net
income
applicable
to
Limited
Partners
fell
40%
to
$458
thousand.
Revenues
reflect
an
increase
in
mortgage-backed
securities.
Net
income
suffered
from
higher
operating
and
interest
expense. | More
from
Market Guide: Significant
Developments |
| | | Michael
B. Yanney,
Chmn./CEO Lisa
Y. Roskens,
Pres. Michael
Thesing,
VP/Secy./Treas. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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