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1059142_14_item7_p30_s1
1059142_13_item7_p54_s1
As a result, the Company reports the assets, liabilities and results of operations of these properties on a consolidated basis.
As a result, the Company does not report the assets, liabilities and results of operations of these properties on a consolidated basis.
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1059142_14_item7_p59_s2
1059142_13_item7_p56_s1
The bond has an outstanding principal amount of $7.6 million and has a base interest rate of 6.25% per annum.
The Series B bond has an outstanding principal amount of $3.6 million and has a base interest rate of 10.0% per annum.
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[ "Series", "B", "3.6", "10.0" ]
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1059142_14_item7_p85_s1
1059142_13_item7_p56_s6
The increase in net operating income is due to an increase in economic occupancy along with a decrease in utilities expenses and repair and maintenance expenses.
This decrease in net operating income is due to a decrease in economic occupancy along with an increase in administrative and repair and maintenance expenses.
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[ "administrative" ]
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1059142_14_item7_p72_s3
1059142_13_item7_p58_s1
The bond has an outstanding principal amount of $7.4 million and has a base interest rate of 6.3% per annum.
The Series B bond has an outstanding principal amount of $1.4 million and has a base interest rate of 5.50% per annum.
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[ "Series", "B", "1.4", "5.50" ]
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1059142_14_item7_p41_s2
1059142_13_item7_p60_s1
The bond has an outstanding principal amount of $9.1 million and has a base interest rate of 6.25% per annum.
The Series A bond has an outstanding principal amount of $3.1 million and has a base interest rate of 6.00% per annum.
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[ "Series", "3.1", "6.00" ]
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1059142_14_item7_p61_s2
1059142_13_item7_p60_s6
The decrease in net operating income is a result of an increase in administrative expense and repair and maintenance expenses .
The increase in net operating income is a result of a decrease in real estate taxes, salary and repair and maintenance expenses.
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1059142_14_item7_p90_s5
1059142_13_item7_p65_s0
Eagle Village's operations resulted in recognition by the Company of net operating income of approximately $898,000 on net revenue of approximately $1.96 million in 2012.
Weatherford's operations resulted in recognition by the Company of net operating income of approximately $377,000 on net revenue of approximately $786,000 in 2013.
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[]
[ "Weatherford", "377,000", "786,000" ]
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1059142_14_item7_p62_s2
1059142_13_item7_p68_s2
The increase in net operating income is the result of a decrease in utility expenses.
The increase in net operating income is the result of a decrease in salary and utility expenses and a decrease in real estate taxes.
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1059142_14_item7_p90_s0
1059142_13_item7_p69_s0
Residences at DeCordova - This property is a senior (55+) affordable housing project located in Granbury, Texas in the Dallas-Fort Worth area.
Residences at Weatherford - This property is a senior (55+) affordable housing project with 76 units located in Weatherford, Texas in the Dallas-Fort Worth area.
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[ "Weatherford", "76", "units", "Weatherford" ]
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1059142_14_item7_p90_s5
1059142_13_item7_p69_s3
DeCordova's operations resulted in recognition by the Company of net operating income of approximately $344,000 on net revenue of approximately $734,000 in 2012.
Weatherford's operations resulted in recognition by the Company of net operating income of approximately $377,000 on net revenue of approximately $786,000 in 2013.
2
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[ "Weatherford", "377,000", "786,000" ]
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1059142_14_item7_p11_s2
1059142_13_item7_p6_s0
The tax-exempt bond segment reported revenue of approximately $12.2 million, interest expense of approximately $3.5 million and income from continuing operations of approximately $4.1 million for the year ended December 31, 2012.
The PHC Certificates segment reported revenue of approximately $1.6 million, interest expense of approximately $542,000, and income from continuing operations of $1 million for the year ended December 31, 2012.
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[ "PHC", "Certificates", "1.6", "542,000" ]
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1059142_14_item7_p5_s0
1059142_13_item7_p6_s0
The tax-exempt bond segment reported revenue of approximately $12.2 million, interest expense of approximately $3.5 million and income from continuing operations of approximately $4.1 million for the year ended December 31, 2012.
The mortgage revenue bond segment reported revenue of approximately $27.8 million, interest expense of approximately $3.3 million and income from continuing operations of approximately $14.5 million for the year ended December 31, 2013.
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[ "mortgage", "27.8", "3.3", "14.5" ]
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1059142_14_item7_p5_s1
1059142_13_item7_p6_s0
The tax-exempt bond segment reported revenue of approximately $12.2 million, interest expense of approximately $3.5 million and income from continuing operations of approximately $4.1 million for the year ended December 31, 2012.
The mortgage revenue bond investments segment reported revenue of approximately $12.2 million, interest expense of approximately $3.5 million, and income from continuing operations of approximately $4.1 million for the year ended December 31, 2012.
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[]
[ "mortgage", "investments" ]
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1059142_14_item7_p8_s0
1059142_13_item7_p6_s2
The majority of the increase in income from continuing operations between 2011 to 2012 resulted from a $4.2 million impairment of the Iona Lakes taxable loan in 2011 and no taxable loan impairments in 2012.
The majority of the increase in income from continuing operations between 2011 to 2012 resulted from a $4.2 million reserve recorded against the Iona Lakes taxable property loan in 2011 and no taxable property loan reserves recorded in 2012.
2
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[]
[ "reserve", "recorded", "property", "property", "reserves", "recorded" ]
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1059142_14_item7_p89_s0
1059142_13_item7_p70_s0
Residences at Weatherford - This property is a senior (55+) affordable housing project with 76 units located in Weatherford, Texas in the Dallas-Fort Worth area.
Residences at DeCordova - This property is a senior (55+) affordable housing project located in Granbury, Texas in the Dallas-Fort Worth area.
2
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[]
[ "DeCordova", "Granbury" ]
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1059142_14_item7_p90_s5
1059142_13_item7_p70_s5
Weatherford's operations resulted in recognition by the Company of net operating loss of approximately $73,000 on net revenue of approximately $255,000 in 2012.
Weatherford's operations resulted in recognition by the Company of net operating income of approximately $377,000 on net revenue of approximately $786,000 in 2013.
2
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[]
[ "income", "377,000", "786,000" ]
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1059142_14_item7_p126_s0
1059142_13_item7_p80_s0
Other interest income is comprised mainly of interest income on taxable loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[]
[ "property", "Partnership" ]
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1059142_14_item7_p96_s0
1059142_13_item7_p80_s0
Other interest income is comprised mainly of interest income on taxable loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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1059142_14_item7_p143_s0
1059142_13_item7_p82_s0
Real estate operating expenses associated with the MF Properties and the Consolidated VIEs is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
Real estate operating expenses associated with the MF Properties is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
2
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1059142_14_item7_p105_s1
1059142_13_item7_p86_s0
Depreciation and amortization consists primarily of depreciation associated with the apartment properties of the Consolidated VIEs and the MF Properties, amortization associated with in-place lease intangible assets recorded as part of the purchase accounting for the acquisition of MF Properties and deferred finance co...
Amortization consists of in-place lease intangible assets recorded as part of the acquisition-method of accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and TOB Credit Facilities.
2
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[ "Amortization", "method" ]
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1059142_14_item7_p134_s1
1059142_13_item7_p86_s0
Depreciation and amortization consists primarily of depreciation associated with the apartment properties of the Consolidated VIEs and the MF Properties, amortization associated with in-place lease intangible assets recorded as part of the purchase accounting for the acquisition of MF Properties and deferred finance co...
Amortization consists of in-place lease intangible assets recorded as part of the acquisition-method of accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and TOB Credit Facilities.
2
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[ "Amortization", "method" ]
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1059142_14_item7_p148_s0
1059142_13_item7_p88_s0
The increase in general and administrative expenses is mainly due to incentive compensation, increases in administrative fees due to the purchase of PHC Certificates and MBS and increases in professional fees.
The increase in general and administrative expenses is mainly due to incentive compensation, increases in administrative fees due to the increased bond portfolio and increases in professional fees.
2
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[]
[ "increased", "bond", "portfolio" ]
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1059142_14_item7_p9_s0
1059142_13_item7_p8_s0
During 2012, the Company invested in other types of tax-exempt securities.
During 2013 and 2012, the Company invested in other types of securities.
2
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[ "2013" ]
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1059142_14_item7_p126_s0
1059142_13_item7_p93_s0
Other interest income is comprised mainly of interest income on taxable loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "property", "Partnership" ]
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1059142_14_item7_p96_s0
1059142_13_item7_p93_s0
Other interest income is comprised mainly of interest income on taxable loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "property", "Partnership" ]
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1059142_14_item7_p103_s1
1059142_13_item7_p98_s0
During 2011 and 2010, the Company determined that a portion of the taxable property loans were potentially impaired and an additional allowance for bad debt should be recorded.
During 2013, the Company determined a portion of the taxable property loans were potentially impaired and an additional provision for loan loss should be recorded.
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[]
[ "provision", "loan", "loss" ]
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1059142_14_item7_p132_s1
1059142_13_item7_p98_s0
During 2011 and 2010, the Company determined that a portion of the taxable property loans were potentially impaired and an additional allowance for bad debt should be recorded.
During 2013, the Company determined a portion of the taxable property loans were potentially impaired and an additional provision for loan loss should be recorded.
2
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[ "provision", "loan", "loss" ]
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1059142_14_item7_p11_s2
1059142_13_item7_p9_s4
The Public Housing Capital Fund Trust Certificates segment reported revenue of approximately $1.6 million, interest expense of approximately $542,000, and income from continuing operations of $1 million for the year ending December 31, 2012.
The PHC Certificates segment reported revenue of approximately $1.6 million, interest expense of approximately $542,000, and income from continuing operations of $1 million for the year ended December 31, 2012.
2
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[]
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1059142_15_item7_p155_s0
1059142_14_item7_p100_s0
Real estate operating expenses associated with the MF Properties and the Consolidated VIEs is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
Real estate operating expenses associated with the MF Properties is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
2
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1059142_15_item7_p126_s0
1059142_14_item7_p103_s0
The Company periodically, or as changes in circumstances or operations dictate, evaluates its taxable property loans for impairment.
The Company periodically, or as changes in circumstances or operations dictate, evaluates its investments for impairment.
2
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[]
[ "investments" ]
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1059142_15_item7_p158_s0
1059142_14_item7_p103_s0
The Company periodically, or as changes in circumstances or operations dictate, evaluates its taxable property loans for impairment.
The Company periodically, or as changes in circumstances or operations dictate, evaluates its investments for impairment.
2
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[ "investments" ]
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1059142_15_item7_p131_s0
1059142_14_item7_p108_s0
The majority of the increase is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
The decrease from 2014 as compared to 2013 is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
2
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1059142_15_item7_p164_s0
1059142_14_item7_p108_s0
The majority of the increase is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
The decrease from 2014 as compared to 2013 is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
2
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[ "decrease", "2014", "compared" ]
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1059142_15_item7_p120_s0
1059142_14_item7_p112_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "Partnership" ]
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1059142_15_item7_p135_s0
1059142_14_item7_p112_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "Partnership" ]
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1059142_15_item7_p152_s0
1059142_14_item7_p112_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[]
[ "Partnership" ]
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1059142_15_item7_p168_s0
1059142_14_item7_p112_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[]
[ "Partnership" ]
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1059142_15_item7_p155_s0
1059142_14_item7_p114_s0
Real estate operating expenses associated with the MF Properties and the Consolidated VIEs is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
Real estate operating expenses associated with the MF Properties is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
2
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[]
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1059142_15_item7_p16_s2
1059142_14_item7_p11_s2
The PHC Certificates segment reported revenue of approximately $1.6 million, interest expense of approximately $542,000, and income from continuing operations of $1 million for the year ended December 31, 2012.
The MBS segment reported revenue of approximately $1.4 million, interest expense of approximately $404,000, and income from continuing operations of approximately $1.0 million for the year ended December 31, 2014 .
2
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[]
[ "MBS", "1.4", "404,000", "1.0" ]
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1059142_15_item7_p117_s4
1059142_14_item7_p123_s2
Annual net rental revenues per unit related to the MF Properties increased to approximately $6,836 per unit in 2013 from approximately $5,587 in 2012.
Annual net revenues per unit related to the MF Properties increased to approximately $6,844 per unit in 2014 from approximately $6,836 in 2013.
2
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[ "Annual", "net", "revenues", "per", "unit", "related", "to", "the", "MF", "Properties", "increased", "to", "approximately", "$", "6,844", "per", "unit", "in", "2014", "from", "approximately", "$", "6,836", "in", "2013", "." ]
[]
[ "6,844" ]
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1059142_15_item7_p149_s3
1059142_14_item7_p123_s2
Annual net rental revenues per unit related to the MF Properties increased to approximately $6,836 per unit in 2013 from approximately $5,587 in 2012.
Annual net revenues per unit related to the MF Properties increased to approximately $6,844 per unit in 2014 from approximately $6,836 in 2013.
2
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[ "Annual", "net", "revenues", "per", "unit", "related", "to", "the", "MF", "Properties", "increased", "to", "approximately", "$", "6,844", "per", "unit", "in", "2014", "from", "approximately", "$", "6,836", "in", "2013", "." ]
[]
[ "6,844" ]
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1059142_15_item7_p122_s0
1059142_14_item7_p128_s0
Other income recognized in 2013 is a guarantee fee received from the General Partner owner of the Ohio Properties (see Note 10 to the consolidated financial statements).
Other income recognized in 2014 is a guarantee fee received from the General Partner of the Greens Property and the other income recognized in 2013 is a guarantee fee received from the General Partner of the Ohio Properties (see Note 10 to the Company s consolidated financial statements).
2
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[ "Other", "income", "recognized", "in", "2013", "is", "a", "guarantee", "fee", "received", "from", "the", "General", "Partner", "owner", "of", "the", "Ohio", "Properties", "(", "see", "Note", "10", "to", "the", "consolidated", "financial", "statements", ")", ...
[ "Other", "income", "recognized", "in", "2014", "is", "a", "guarantee", "fee", "received", "from", "the", "General", "Partner", "of", "the", "Greens", "Property", "and", "the", "other", "income", "recognized", "in", "2013", "is", "a", "guarantee", "fee", "rec...
[]
[ "Greens", "Property", "Company" ]
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1059142_15_item7_p154_s0
1059142_14_item7_p128_s0
Other income recognized in 2013 is a guarantee fee received from the General Partner owner of the Ohio Properties (see Note 10 to the consolidated financial statements).
Other income recognized in 2014 is a guarantee fee received from the General Partner of the Greens Property and the other income recognized in 2013 is a guarantee fee received from the General Partner of the Ohio Properties (see Note 10 to the Company s consolidated financial statements).
2
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[]
[ "Greens", "Property", "Company" ]
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1059142_15_item7_p17_s0
1059142_14_item7_p12_s2
The MBS were acquired during the fourth quarter of 2012 and first six months of 2013 and are backed by residential mortgage loans.
As of December 31, 2013, the Company owned fourteen state-issued MBS acquired during the fourth quarter of 2012 and first six months of 2013 which are backed by residential mortgage loans.
2
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[]
[ "December", "31", "Company", "owned", "fourteen", "state", "issued" ]
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1059142_15_item7_p126_s0
1059142_14_item7_p132_s0
The Company periodically, or as changes in circumstances or operations dictate, evaluates its taxable property loans for impairment.
The Company periodically, or as changes in circumstances or operations dictate, evaluates its investments for impairment.
2
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[]
[ "investments" ]
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1059142_15_item7_p158_s0
1059142_14_item7_p132_s0
The Company periodically, or as changes in circumstances or operations dictate, evaluates its taxable property loans for impairment.
The Company periodically, or as changes in circumstances or operations dictate, evaluates its investments for impairment.
2
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[]
[ "investments" ]
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1059142_15_item7_p131_s0
1059142_14_item7_p137_s0
The majority of the increase is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
The decrease from 2014 as compared to 2013 is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
2
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[]
[ "decrease", "2014", "compared" ]
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1059142_15_item7_p164_s0
1059142_14_item7_p137_s0
The majority of the increase is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
The decrease from 2014 as compared to 2013 is attributable to the gain of approximately $1.8 million from the recognition of the sale of the Ohio Properties and approximately $1.4 million from the recognition of the sale of the Greens Property in 2013.
2
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[]
[ "decrease", "2014", "compared" ]
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1059142_15_item7_p120_s0
1059142_14_item7_p141_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Company", "." ]
[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "Partnership" ]
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1059142_15_item7_p135_s0
1059142_14_item7_p141_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "Partnership" ]
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1059142_15_item7_p152_s0
1059142_14_item7_p141_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "Partnership" ]
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1059142_15_item7_p168_s0
1059142_14_item7_p141_s0
Other interest income is comprised mainly of interest income on taxable property loans held by the Company.
Other interest income is comprised mainly of interest income on taxable property loans held by the Partnership.
2
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[ "Other", "interest", "income", "is", "comprised", "mainly", "of", "interest", "income", "on", "taxable", "property", "loans", "held", "by", "the", "Partnership", "." ]
[]
[ "Partnership" ]
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1059142_15_item7_p123_s0
1059142_14_item7_p143_s0
Real estate operating expenses associated with the MF Properties is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
Real estate operating expenses associated with the MF Properties and the Consolidated VIEs is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
2
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[ "Real", "estate", "operating", "expenses", "associated", "with", "the", "MF", "Properties", "is", "comprised", "principally", "of", "real", "estate", "taxes", ",", "property", "insurance", ",", "utilities", ",", "property", "management", "fees", ",", "repairs", ...
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[]
[ "Consolidated", "VIEs" ]
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1059142_15_item7_p138_s0
1059142_14_item7_p143_s0
Real estate operating expenses associated with the MF Properties is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
Real estate operating expenses associated with the MF Properties and the Consolidated VIEs is comprised principally of real estate taxes, property insurance, utilities, property management fees, repairs and maintenance, and salaries and related employee expenses of on-site employees.
2
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[]
[ "Consolidated", "VIEs" ]
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1059142_15_item7_p128_s1
1059142_14_item7_p146_s0
Depreciation and amortization consists primarily of depreciation associated with the MF Properties, amortization associated with in-place lease intangible assets recorded as part of the purchase accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and...
Amortization consists of in-place lease intangible assets recorded as part of the acquisition-method of accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and TOB financing facilities.
2
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[]
[ "Amortization", "method", "financing", "facilities" ]
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1059142_15_item7_p143_s1
1059142_14_item7_p146_s0
Depreciation and amortization consists primarily of depreciation associated with the MF Properties, amortization associated with in-place lease intangible assets recorded as part of the purchase accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and...
Amortization consists of in-place lease intangible assets recorded as part of the acquisition-method of accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and TOB financing facilities.
2
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[ "Amortization", "method", "financing", "facilities" ]
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1059142_15_item7_p161_s0
1059142_14_item7_p146_s0
Depreciation and amortization consists primarily of depreciation associated with the MF Properties, amortization associated with in-place lease intangible assets recorded as part of the purchase accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and...
Amortization consists of in-place lease intangible assets recorded as part of the acquisition-method of accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and TOB financing facilities.
2
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[]
[ "Amortization", "method", "financing", "facilities" ]
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1059142_15_item7_p175_s1
1059142_14_item7_p146_s0
Depreciation and amortization consists primarily of depreciation associated with the MF Properties, amortization associated with in-place lease intangible assets recorded as part of the purchase accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and...
Amortization consists of in-place lease intangible assets recorded as part of the acquisition-method of accounting for the acquisition of MF Properties and deferred finance cost amortization related to the closing of the TEBS and TOB financing facilities.
2
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[]
[ "Amortization", "method", "financing", "facilities" ]
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1059142_15_item7_p19_s2
1059142_14_item7_p14_s3
As of December 31, 2012, the Partnership s wholly-owned subsidiaries held interests in three entities that own MF Properties containing a total of 504 rental units and the Partnership's subsidiaries owned four MF Properties, Arboretum, DeCordova, Eagle Village and Weatherford containing a total of 842 rental units.
At December 31, 2013, the Partnership s wholly-owned subsidiaries held interests in three entities that own MF Properties containing a total of 504 rental units.
2
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[]
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1059142_15_item7_p182_s0
1059142_14_item7_p152_s0
The economic performance of a multifamily apartment property depends on the rental and occupancy rates of the property and on the level of operating expenses.
The economic performance of a multifamily, student housing, or senior citizen apartment property depends on the rental and occupancy rates of the property and on the level of operating expenses.
2
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1059142_15_item7_p279_s1
1059142_14_item7_p152_s2
This, in turn, is affected by several factors such as local or national economic conditions, the amount of new apartment construction and the affordability of single-family homes.
This, in turn, is affected by several factors such as local or national economic conditions, the amount of new apartment construction and interest rates on single-family mortgage loans.
2
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[]
[ "interest", "rates", "mortgage", "loans" ]
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1059142_15_item7_p279_s2
1059142_14_item7_p152_s3
In addition, factors such as government regulation (such as zoning laws), inflation, real estate and other taxes, labor problems, and natural disasters can affect the economic operations of an apartment property.
In addition, factors such as government regulation, inflation, real estate and other taxes, labor problems and natural disasters can affect the economic operations of a property.
2
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[]
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1059142_15_item7_p186_s3
1059142_14_item7_p156_s3
As a result, the Partnership was required to supplement its cash available for distribution during 2013, with unrestricted cash and expects to continue to do so until the Partnership is able to complete its current plans to invest the net proceeds it realized from the most recent issuances of BUCs on a leveraged basis.
As a result, the Partnership was required to supplement its cash available for distribution during 2014, with unrestricted cash and expects to continue to do so until the Partnership is able to complete its current plans to invest the net proceeds it realized from the most recent M31 TEBS Financing facility.
2
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[]
[ "M31", "TEBS", "Financing", "facility" ]
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1059142_15_item7_p189_s1
1059142_14_item7_p160_s1
The TEBS financing essentially provides the Company with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
The M31 and M24 TEBS Financings essentially provide the Company with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
2
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[]
[ "M31", "M24", "Financings", "provide" ]
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1059142_15_item7_p190_s1
1059142_14_item7_p160_s1
The TEBS financing essentially provides the Company with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
The M31 TEBS Financing facility essentially provides the Partnership with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
2
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[ "The", "M31", "TEBS", "Financing", "facility", "essentially", "provides", "the", "Partnership", "with", "a", "long", "-", "term", "variable", "-", "rate", "debt", "facility", "at", "interest", "rates", "reflecting", "prevailing", "short", "-", "term", "tax", "...
[]
[ "M31", "Financing", "Partnership" ]
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1059142_15_item7_p192_s1
1059142_14_item7_p160_s1
The TEBS financing essentially provides the Company with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
The M24 TEBS Financing facility essentially provides the Partnership with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
2
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[ "The", "M24", "TEBS", "Financing", "facility", "essentially", "provides", "the", "Partnership", "with", "a", "long", "-", "term", "variable", "-", "rate", "debt", "facility", "at", "interest", "rates", "reflecting", "prevailing", "short", "-", "term", "tax", "...
[]
[ "M24", "Financing", "Partnership" ]
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1059142_15_item7_p30_s0
1059142_14_item7_p160_s1
The TEBS financing essentially provides the Company with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
The M31 and M24 TEBS Financing essentially provides the Company with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
2
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[ "The", "M31", "and", "M24", "TEBS", "Financing", "essentially", "provides", "the", "Company", "with", "a", "long", "-", "term", "variable", "-", "rate", "debt", "facility", "at", "interest", "rates", "reflecting", "prevailing", "short", "-", "term", "tax", "...
[]
[ "M31", "M24", "Financing" ]
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1059142_15_item7_p189_s2
1059142_14_item7_p160_s2
The TEBS financing offers several advantages over the Company's previous credit facilities which, over time, are expected to positively impact the generation of CAD.
The M31 and M24 TEBS Financing facilities offer several advantages over the Company s previous credit facilities which, over time, are expected to positively impact the generation of CAD.
2
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[]
[ "M31", "M24", "Financing", "offer" ]
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1059142_15_item7_p190_s5
1059142_14_item7_p161_s3
The Class B TEBS Certificates were issued in an initial principal amount of $20.3 million and were retained by the Sponsor.
The Class B M31 TEBS Certificates were issued in an initial principal amount of approximately $23.7 million and were retained by the 2014 Sponsor.
2
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[ "The", "Class", "B", "M31", "TEBS", "Certificates", "were", "issued", "in", "an", "initial", "principal", "amount", "of", "approximately", "$", "23.7", "million", "and", "were", "retained", "by", "the", "2014", "Sponsor", "." ]
[]
[ "M31", "approximately", "23.7" ]
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1059142_15_item7_p22_s1
1059142_14_item7_p163_s1
In July 2011, the Company executed a Master Trust Agreement with DB which allows the Company to execute multiple TOB structures upon the approval and agreement of terms by DB.
In July 2011, the Company executed a Master Trust Agreement with Deutsche Bank AG ( DB ) which allows the Company to execute multiple Tender Option Bond financing facility ( TOB Trust ) structures upon the approval and agreement of terms by DB.
2
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[]
[ "Deutsche", "Bank", "AG", "Tender", "Option", "Bond", "financing", "facility" ]
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1059142_15_item7_p203_s1
1059142_14_item7_p166_s1
The amount borrowed was approximately $13.2 million with a variable interest rate tied to SIFMA.
The amount borrowed was $20.0 million with a variable interest rate tied to SIFMA.
2
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[ "The", "amount", "borrowed", "was", "$", "20.0", "million", "with", "a", "variable", "interest", "rate", "tied", "to", "SIFMA", "." ]
[]
[ "20.0" ]
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1059142_15_item7_p202_s1
1059142_14_item7_p167_s1
The amount borrowed was $20.0 million with a variable interest rate tied to SIFMA.
The amount borrowed was approximately $13.2 million with a variable interest rate tied to SIFMA.
2
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[]
[ "approximately", "13.2" ]
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1059142_15_item7_p204_s1
1059142_14_item7_p167_s1
The amount borrowed was $20.0 million with a variable interest rate tied to SIFMA.
The amount borrowed was $7.0 million with a variable interest rate tied to SIFMA.
2
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[ "The", "amount", "borrowed", "was", "$", "7.0", "million", "with", "a", "variable", "interest", "rate", "tied", "to", "SIFMA", "." ]
[]
[ "7.0" ]
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1059142_15_item7_p201_s0
1059142_14_item7_p168_s0
In March 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Arbors at Hickory Ridge mortgage revenue bond.
In December 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing The Suites on Paseo Series A mortgage revenue bond.
2
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[]
[ "December", "Suites", "Paseo", "Series" ]
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1059142_15_item7_p205_s0
1059142_14_item7_p168_s0
In March 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Arbors at Hickory Ridge mortgage revenue bond.
In February 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Greens Property mortgage revenue bond.
2
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[]
[ "February", "Greens", "Property" ]
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1059142_15_item7_p203_s1
1059142_14_item7_p168_s1
The amount borrowed was $7.0 million with a variable interest rate tied to SIFMA maturing in February 2014.
The amount borrowed was $20.0 million with a variable interest rate tied to SIFMA.
2
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[]
[ "20.0" ]
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1059142_15_item7_p196_s3
1059142_14_item7_p168_s4
The outstanding balance remains at $7.0 million on December 31, 2013 .
The outstanding balance remains at approximately $18.0 million on December 31, 2014.
2
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[]
[ "approximately", "18.0" ]
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1059142_15_item7_p211_s4
1059142_14_item7_p170_s1
The LIFERS entitle the Company to all principal and interest payments received by these TOB Trusts on the mortgage-backed securities after payments due to the holders of the SPEARS and trust costs ("MBS TOB Trusts").
The LIFERS entitle the Company to all principal and interest payments received by the PHC TOB Trusts on the $59.3 million of PHC Certificates held by it after payments due to the holders of the SPEARS and trust costs.
2
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[]
[ "PHC", "59.3", "million", "PHC", "Certificates", "held" ]
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1059142_15_item7_p206_s1
1059142_14_item7_p174_s1
The LIFERS entitle the Company to all principal and interest payments received by the PHC TOB Trusts on the $65.3 million of PHC Certificates held by it after payments due to the holders of the SPEARS and trust costs.
The LIFERS entitle the Company to all principal and interest payments received by these TOB Trusts on the mortgage-backed securities after payments due to the holders of the SPEARS and trust costs ( MBS TOB Trusts ).
2
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[]
[ "mortgage", "backed", "securities", "MBS" ]
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1059142_15_item7_p27_s2
1059142_14_item7_p177_s4
The Company is accounting for these transactions as secured financing arrangements.
The Company accounts for these TOB transactions as secured financing arrangements.
2
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[]
[ "accounts", "TOB" ]
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1059142_15_item7_p194_s7
1059142_14_item7_p18_s0
In July 2011, the Company executed a Master Trust Agreement with DB which allows the Company to execute multiple Tender Option Bond financing facility ("TOB Trust") structures upon the approval and agreement of terms by DB.
In July 2011, the Company executed a Master Trust Agreement with DB which allows the Company to execute multiple TOB Trust structures upon the approval and agreement of terms by DB.
2
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[]
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1059142_15_item7_p194_s8
1059142_14_item7_p18_s1
Under each TOB Trust structure issued through the Master Trust Agreement, the TOB trustee issues senior floating-rate participation interests ("SPEARS") and residual participating interests ("LIFERS").
Under each TOB Trust structure issued through the Master Trust Agreement, the TOB trustee issues SPEARS and LIFERS.
2
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[]
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1059142_15_item7_p231_s1
1059142_14_item7_p196_s1
The multifamily housing projects are owned by entities that are not controlled by the Partnership.
The Residential Properties are owned by entities that are not controlled by the Partnership.
2
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[ "The", "multifamily", "housing", "projects", "are", "owned", "by", "entities", "that", "are", "not", "controlled", "by", "the", "Partnership", "." ]
[ "The", "Residential", "Properties", "are", "owned", "by", "entities", "that", "are", "not", "controlled", "by", "the", "Partnership", "." ]
[]
[ "Residential", "Properties" ]
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1059142_15_item7_p243_s0
1059142_14_item7_p206_s0
In June 2013, the Partnership executed a Bond Purchase Commitment agreeing to purchase an $8.0 million new mortgage revenue bond and a $500,000 taxable mortgage bond both secured by a multifamily property under construction in Albuquerque, New Mexico.
In June 2013, the Partnership executed a Bond Purchase Commitment agreeing to purchase an $8.0 million new mortgage revenue bond and a $500,000 taxable mortgage bond both secured by a multifamily property, Silver Moon, under construction in Albuquerque, New Mexico.
2
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[]
[ "Silver", "Moon" ]
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1059142_15_item7_p250_s0
1059142_14_item7_p214_s0
The TEBS financing agreements contain certain provisions that allow the Company to (1) cause the return of certain individual bonds under defined circumstances, (2) cause the return of all of the bonds by electing an Optional Series Pool Release or (3) cause the return of any defaulted bonds.
The M31 and M24 TEBS Financing agreements contain certain provisions that allow the Company to (1) cause the return of certain individual bonds under defined circumstances, (2) cause the return of all of the bonds by electing an Optional Series Pool Release or (3) cause the return of any defaulted bonds.
2
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[]
[ "M31", "M24", "Financing" ]
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1059142_15_item7_p250_s4
1059142_14_item7_p214_s3
As effective control has not been transferred, the transaction does not meet the conditions to derecognize the assets resulting in the TEBS financing being presented on the Company's consolidated financial statements as a secured financing.
As effective control has not been transferred, the transaction does not meet the conditions to de-recognize the assets resulting in the M31 and M24 TEBS Financing being presented on the Company s consolidated financial statements as a secured financing.
2
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[]
[ "de", "recognize", "M31", "M24", "Financing" ]
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1059142_15_item7_p251_s1
1059142_14_item7_p215_s1
As part of the TEBS financing, certain bond assets of the Partnership were securitized into the TEBS Trust with Freddie Mac.
As part of the M31 and M24 TEBS Financings, certain bond assets of the Partnership were securitized into the M31 and M24 TEBS Trusts with Freddie Mac.
2
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[]
[ "M31", "M24", "Financings", "M31", "M24", "Trusts" ]
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1059142_15_item7_p251_s2
1059142_14_item7_p215_s2
The TEBS Trust then issued Class A and B TEBS Certificates.
The M31 and M24 TEBS Trusts then issued Class A and B TEBS Certificates.
2
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[ "The", "TEBS", "Trust", "then", "issued", "Class", "A", "and", "B", "TEBS", "Certificates", "." ]
[ "The", "M31", "and", "M24", "TEBS", "Trusts", "then", "issued", "Class", "A", "and", "B", "TEBS", "Certificates", "." ]
[]
[ "M31", "M24", "Trusts" ]
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1059142_15_item7_p252_s0
1059142_14_item7_p215_s4
The TOB trustee then issued senior floating-rate participating interests SPEARS and LIFERS.
The TOB trustee then issued SPEARS and LIFERS.
2
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[ "The", "TOB", "trustee", "then", "issued", "senior", "floating", "-", "rate", "participating", "interests", "SPEARS", "and", "LIFERS", "." ]
[ "The", "TOB", "trustee", "then", "issued", "SPEARS", "and", "LIFERS", "." ]
[]
[]
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1059142_15_item7_p252_s1
1059142_14_item7_p216_s0
The Partnership has determined that the TEBS Trust is a VIE and the Class B Certificates owned by the Partnership create a variable interest in the TEBS Trust.
The Partnership has determined that the M31 and M24 TEBS Trusts are VIEs and the Class B Certificates owned by the Partnership create a variable interest in the M31 and M24 TEBS Trusts.
2
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[]
[ "M31", "M24", "Trusts", "VIEs", "M31", "M24", "Trusts" ]
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1059142_15_item7_p254_s1
1059142_14_item7_p218_s1
As a result, the Partnership determined it had retained a controlling financial interest in the TEBS Trust because such actions effectively provide the Partnership with the ability to control decisions pertaining to the VIE's management of interest rate and credit risk.
As a result, the Partnership determined it had retained a controlling financial interest in the M31 and M24 TEBS Trusts because such actions effectively provide the Partnership with the ability to control decisions pertaining to the VIE s management of interest rate and credit risk.
2
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[]
[ "M31", "M24", "Trusts" ]
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1059142_15_item7_p254_s2
1059142_14_item7_p218_s2
While in the TEBS Trust, the bond assets may only be used to settle obligations of the trust and the liabilities of the trust do not provide the Class A certificate holders with recourse to the general credit of the Partnership.
While in the M31 and M24 TEBS Trusts, the bond assets may only be used to settle obligations of the trusts and the liabilities of the trusts do not provide the Class A certificate holders with recourse to the general credit of the Partnership.
2
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[]
[ "M31", "M24", "Trusts", "trusts", "trusts" ]
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1059142_15_item7_p287_s0
1059142_14_item7_p228_s0
Investments in Mortgage Revenue Bonds and Property Loans Valuation - As all of the Company's investments in mortgage revenue bonds are classified as available-for-sale securities, they are carried on the balance sheet at their estimated fair values.
Investment in PHC Certificates Valuation - As all of the Company s investments in PHC Certificates are classified as available-for-sale securities, they are carried on the balance sheet at their estimated fair values.
2
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[]
[ "Investment", "PHC", "Certificates", "PHC", "Certificates" ]
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1059142_15_item7_p264_s4
1059142_14_item7_p230_s0
Management's valuation encompasses judgment in its application.
This calculation methodology encompasses judgment in its application.
2
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[ "calculation", "methodology" ]
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1059142_15_item7_p287_s5
1059142_14_item7_p231_s2
Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of these bonds.
Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of these PHC certificates which is the yield for a new issuance of a similarly structured security.
2
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1059142_15_item7_p291_s3
1059142_14_item7_p231_s2
Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of these bonds.
Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of the MBS which is the effective yield on new issuances of similarly rated MBS.
2
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[]
[ "MBS", "effective", "yield", "new", "issuances", "similarly", "rated", "MBS" ]
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1059142_15_item7_p291_s4
1059142_14_item7_p231_s3
Assuming an immediate ten percent adverse change in the key assumption, the effective yields on the individual bonds would increase to a range of 6.9% to 10.8% per annum and would result in additional unrealized losses on the bond portfolio of approximately $22.1 million.
Assuming a ten percent adverse change in that key assumption, the effective yields on the MBS would increase to a range of 4.1% to 5.8% per annum and would result in additional unrealized losses on the bond portfolio of approximately $806,000.
2
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[]
[ "MBS", "4.1", "5.8", "806,000" ]
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1059142_15_item7_p288_s1
1059142_14_item7_p233_s1
The Company evaluates whether a decline in the fair value of a security below its amortized cost is other-than-temporary based on a number of factors including:
The Company evaluates whether a decline in the fair value of a PHC Certificate below its amortized cost is other-than-temporary based on a number of factors including:
2
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[]
[ "PHC", "Certificate" ]
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1059142_15_item7_p182_s2
1059142_14_item7_p242_s1
This, in turn, is affected by several factors such as local or national economic conditions, the amount of new apartment construction and interest rates on single-family mortgage loans.
This, in turn, is affected by several factors such as local or national economic conditions, the amount of new apartment construction and the affordability of single-family homes.
2
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[]
[ "affordability", "homes" ]
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1059142_15_item7_p182_s3
1059142_14_item7_p242_s2
In addition, factors such as government regulation, inflation, real estate and other taxes, labor problems and natural disasters can affect the economic operations of a property.
In addition, factors such as government regulation (such as zoning laws), inflation, real estate and other taxes, labor problems, and natural disasters can affect the economic operations of an apartment property.
2
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[]
[ "zoning", "laws", "apartment" ]
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