As of December 31, 2017, the Partnership is involved in the financing for 66 properties and owns 3 properties directly. The revenue bonds that comprise the financing were issued by state and local issuing authorities to provide for permanent financing of multifamily residential property and one student housing property. These properties are located in the states of Florida, Indiana, California, Minnesota, North Carolina, Ohio, South Carolina, Tennessee, Maryland, Louisiana, Illinois, New Mexico, Washington and Texas and contain a total of 10,666 rental units. The 3 properties owned comprise 1,013 units which provide additional income to the Partnership in the form of property net operating income and are located in the states of California, Florida and Nebraska.
The amount of interest income earned by the Partnership from its investment in tax-exempt mortgage revenue bonds is a function of the net operating income generated by the properties collateralizing the tax-exempt revenue bonds.