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I I I I I I I I I I I I I I g I I I I CAN-AMERICAN REALTY PARTNERS 81-1 ~2,450,OOO LiMited Paltnership Interests offered in 28 On~ts of $d7,SOO each. Off~rlng Date: March, 1981. Placement Agen~: Merrill Lynch, Pierce, Fenner and SMith, Inc. PrIncipal InvestMent: The part~ershIp was orsanized to acquire, own and operate AUTUHn CREST APARTMt:NTS, a 300-unit ga1.uen apartment project In Columbia, Maryland. The property was purchased from Autu~n Crest Associates, a Limited partnership affiliated with C&n-American Realty Corporation. Financing: The partnership's purchase prIce for the Project was $6,755,000 (exclUSIve of \ncidental costs and acquIsitIon expvnses), consistIng of (i) $1,755,000 to be paid In three annual InstallMents through March 1, 1983; and (11) a $5,000,000 non-recourse purChase money Mortgage note secured by tne Project fronl the PartnershIp to Autumn Crest ASSOCIates, on whi~h a final -balloon- payment is due in August 1991. Eff~ctive October 1985, the Autumn Crest Apartment proJect was refinanred through a $9,800,000 Mortgage Loan from Home Federal SavIngs and Loan ASSOCIatIon, San Diego, CalIfornia. The proceeds of this mortga~e were utilIzed to reLire the existIng purcha~~ money mortgage note, make capItal i~provernents to the proJect and make a distribution in excess of $3,000,000 to the partners. Can-American Realty corporatIon IS the General Partner of the Partnership. CAN-AMERICAN HOUSING PARTNERS eO-l $1,200,000 LImIted partnershIp Interestb offered In 30 Units of $40,000 each. Offerlng Date: October 1980. Placement Agent: Merrill Lynch, PIerce, Fenner and Snith~ Inc. PrInCIpal Interest: To invest In a Local LinIted PartnershIp whIch was organ~zed to own, develop and operate HICKOR1 RIDGE, a 108-unIt garden apartment proJect in columbia, Maryland. Constru~tion and Permanent Financin: PrOvided through a Loan In the amount of 4,342,400 fron the Maryland National Mortgage corporatJon. The Connunlty Development Admln.stratlon of the State of Maryland prOVided 99% of the loan funds to the ConstructIon Lenjer under a Loan partICipation Agreenent. The Loan IS Insured by the United States Departm~nt of HOUSIng and Urban Development. At flna~ clo~lng, the Mortgage was purchased by the Governnent national Mortgage ASSOCiatIon.