Municipal Mortgage & Equity LLC has sold its fixed-rate performing multifamily bond portfolio to Merrill Lynch Portfolio Management Inc., according to an 8-K filing obtained via DisclosureNet.com.

The effective price for the $849 million portfolio was equal to its fair value as of June 30. MuniMae eliminated $799 million of debt and preferred equity obligations with the sale and received $79 million in cash, it noted in an associated press release.

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