FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 10, 1997
AMERICA FIRST APARTMENT INVESTORS, L.P.
(Exact name of registrant as specified in its charter)
Delaware 0-20737
(State of Formation) (Commission File Number)
47-0797793
(IRS Employer Identification Number)
Suite 400, 1004 Farnam Street,
Omaha, Nebraska 68102
(Address of principal executive offices) (Zip Code)
(402) 444-1630
(Registrants' telephone number, including area code)
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Item 2. Acquisition or Disposition of Assets. On April 10, 1997,
America First Apartment Investors, L.P. (the Partnership), a Delaware Limited
Partnership, acquired a 226-unit multifamily housing property located in
Atlanta, Georgia and known as The Retreat Apartments (the "Property") from
Brookchase DMC, L.P. (the "Seller"). The Partnership paid a total of
$9,094,434 for the Property. Of this amount, $498,679 was for personal
property and acquisition costs. The purchase price was determined in
arm's-length negotiations. The acquisition of the Property was financed with
proceeds from the Partnership's Line of Credit with The First National Bank of
Boston. The Partnership expects to obtain permanent financing for the
Property through the refunding of certain tax-exempt bonds held by the
Partnership. The Partnership knows of no material relationship between the
Seller and the Partnership or any of its affiliates, directors or officers or
any associate of any of its directors or officers. The Partnership intends to
continue renting the Property as multifamily housing.
The purchase price represents less than 20% of the assets of the
Partnership at December 31, 1996, and the income generated by the Property
represents less than 20% of the income generated by the Partnership for the
year ended December 31, 1996. As such, financial statements of the Property
and pro forma financial statements of the Partnership are not presented.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
None
(b) Pro Forma Financial Information.
None
(c) Exhibits.
None
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICA FIRST APARTMENT INVESTORS, L.P.
By America First Capital
Associates Limited Partnership
Four, its general partner
By America First Companies L.L.C, its general
partner
By /s/ Michael Thesing
Michael Thesing, Vice President
April 22, 1997
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