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America First FFO Up 13%

ATLANTA-Fourth quarter funds from operations at America First Apartment Investors of Omaha, NE are up 13% increase from the comparable 1999 period. American First Apartment Investiors owns the 226-unit Retreat in Atlanta and the 260-unit Park Trace in Norcross, GA.

By Shelley M. Johnson | Updated on April 13, 2001

ATLANTA-America First Apartment Investors of Omaha, NE, which owns 486 units in metro Atlanta, posted a 13% gain in funds from operations in fourth quarter 2000. The Nebraska-based investor/developer owns the 226-unit Retreat in Atlanta and the 260-unit Park Trace in suburban Norcross, GA.

FFO equaled $1.7 million or 34 cents per unit, compared with $1.6 million or 30 cents per unit for the fourth quarter of 1999, the company says in a prepared statement. For all of 2000, FFO increased by 14.4% per unit to $6.9 million or $1.35 per unit, from $6.2 million or $1.18 per unit for 1999.

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