Red Hills Villas, located at 1100 S. Creek Dr., is one of fourproperties being acquired by CharterMac through the $33.4 milliontax-exempt bond package. The other properties are located inDallas, Charlottesville, VA and Philadelphia.

Also this week, CharterMac has posted a fourth quarter dividendof $0.275 per share. CharterMac's current quarterly dividend is$1.10 per share, representing an 8.4% yield on the $13.09 per shareclosing price on Dec. 15.

CharterMac invests in tax-exempt bonds, the proceeds of whichare used by borrowers to finance and refinance the development andownership of multifamily housing nationwide. The company'sportfolio is comprised of direct and indirect ownership interestsin tax-exempt multifamily bonds in 18 states and the District ofColumbia.

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