America First Tax Exempt Investors (ATAX) Q2 2022 Earnings Call Transcript

08 billion of affordable multifamily investments in the form of mortgage revenue bonds, governmental issuer loans, and property loans, $108 million in joint venture equity investments, $59 million in direct real estate investments and $14 million in seniors and skilled nursing mortgage revenue bonds and property loan investments.As far as the performance of the investment portfolio is concerned, we have had no forbearance requests for multifamily mortgage revenue bonds, and all such borrowers are current on their principal and interest payments.Physical occupancy on the underlying projects averaged 95% for the mortgage revenue bond portfolio as of June 30, 2022.We continue to advance funds for the construction of affordable multifamily properties, securing our existing mortgage revenue bonds, taxable mortgage revenue bond, governmental issuer, and property loan investments.

This decline is due to a decline in the fair value of our mortgage revenue bond portfolio caused by rising market interest rates.I'd now like to share current information on our debt investment portfolio consisting of mortgage revenue bonds, governmental issuer loans, and property loans.