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        <Desc>DUE DILIGENCE</Desc>
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        <CurrentTaxYearMinus1YearAmt>703</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>84070</CurrentTaxYearAmt>
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      <TotalBookValueLandBuildingsAmt>66850309</TotalBookValueLandBuildingsAmt>
      <OtherAssetsOrgGrp>
        <Desc>LEASED ASSETS</Desc>
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        <Desc>RESTRICTED BOND RESERVES</Desc>
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      <OtherAssetsOrgGrp>
        <Desc>CONSTRUCTION IN PROGRESS</Desc>
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        <Desc>INVESTMENT IN 929 N WOLFE ST LLC</Desc>
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        <Desc>OTHER INVESTMENTS</Desc>
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        <Desc>DEFERRED GROUND LEASE</Desc>
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        <Desc>DEFERRED RENT</Desc>
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      <RecipientTable>
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          <BusinessNameLine1Txt>FUQUA SCHOOL</BusinessNameLine1Txt>
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          <CityNm>FARMVILLE</CityNm>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>CALIFORNIA MUNI FINANCE AUTH- 2020A THE ACQUISTION AND REPOSITIONING OF AN EXISTING STUDENT HOUSING FACILITY LOCATED ON THE CAMPUS OF CLAREMONT GRADUATE UNIVERSITY IN CLAREMONT, CA INCLUDING THE ACQUISITION OF A LONG-TERM GROUND LEASE INTEREST, FUNDING OF ANY REQUIRED RESERVES, AND PAYMENT OF COSTS OF ISSUANCE.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4D</FormAndLineReferenceDesc>
        <ExplanationTxt>PROVIDING SERVICES, ACTIVITIES AND PROGRAMS DEDICATED TO FURTHERING COMMUNITY DEVELOPMENT, EDUCATION, AND LESSENING THE BURDENS OF GOVERNMENT.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>JEFFREY KLEIN MOORE, FAWCETT, WYATT DIRECTOR DIRECTORS &gt;10% OWNER IN SAME BUSINESS JAMES MOORE KLEIN, FAWCETT, WYATT DIRECTOR DIRECTORS &gt;10% OWNER IN SAME BUSINESS GREGORY FAWCETT KLEIN, MOORE, WYATT DIRECTOR DIRECTORS &gt;10% OWNER IN SAME BUSINESS KIMBERLY WYATT KLEIN, MOORE, FAWCETT DIRECTOR DIRECTORS &gt;10% OWNER IN SAME BUSINESS</ExplanationTxt>
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        <ExplanationTxt>THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART XII</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FINANCIAL STATEMENTS OF THE THREE DISREGARDED ENTITIES AND THE 929 WOLFE STREET LLC PARTNERSHIP ARE REVIEWED/AUDITED BY INDEPENDENT ACCOUNTANTS. EACH OF THOSE FINANCIAL STATEMENTS ARE ISSUED ON A SEPARATE BASIS FROM THE PARENT ORGANIZATION.</ExplanationTxt>
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          <BusinessNameLine1Txt>AF-18R-LINCOLN LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>200 QUEBEC ST 300-111</AddressLine1Txt>
          <CityNm>DENVER</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>80230</ZIPCd>
        </USAddress>
        <EIN>322470135</EIN>
        <PrimaryActivitiesTxt>HOUSING</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>NE</LegalDomicileStateCd>
        <TotalIncomeAmt>3339612</TotalIncomeAmt>
        <EndOfYearAssetsAmt>31613549</EndOfYearAssetsAmt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>P3 FDN</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
      <IdRelatedOrgTxblPartnershipGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>CPTC ACQUISTION LLC</BusinessNameLine1Txt>
        </RelatedOrganizationName>
        <USAddress>
          <AddressLine1Txt>9730 SUMMERS RIDGE RD</AddressLine1Txt>
          <CityNm>SAN DIEGO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>92121</ZIPCd>
        </USAddress>
        <EIN>822690142</EIN>
        <PrimaryActivitiesTxt>HEALTHCARE</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>CA</LegalDomicileStateCd>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>P3 CPTC</BusinessNameLine1Txt>
          <BusinessNameLine2Txt>HOLDINGS LLC</BusinessNameLine2Txt>
        </DirectControllingEntityName>
        <PredominantIncomeTypeTxt>EXCLUDED</PredominantIncomeTypeTxt>
        <DisproportionateAllocationsInd>false</DisproportionateAllocationsInd>
        <GeneralOrManagingPartnerInd>false</GeneralOrManagingPartnerInd>
      </IdRelatedOrgTxblPartnershipGrp>
      <IdRelatedOrgTxblPartnershipGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>929 N WOLFE STREET LLC</BusinessNameLine1Txt>
        </RelatedOrganizationName>
        <USAddress>
          <AddressLine1Txt>929 N WOLFE ST</AddressLine1Txt>
          <CityNm>BALTIMORE</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>21205</ZIPCd>
        </USAddress>
        <EIN>882005399</EIN>
        <PrimaryActivitiesTxt>HOUSING</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>MD</LegalDomicileStateCd>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <PredominantIncomeTypeTxt>RELATED</PredominantIncomeTypeTxt>
        <ShareOfTotalIncomeAmt>932889</ShareOfTotalIncomeAmt>
        <ShareOfEOYAssetsAmt>34527848</ShareOfEOYAssetsAmt>
        <DisproportionateAllocationsInd>false</DisproportionateAllocationsInd>
        <GeneralOrManagingPartnerInd>true</GeneralOrManagingPartnerInd>
        <OwnershipPct>0.75000</OwnershipPct>
      </IdRelatedOrgTxblPartnershipGrp>
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>P3 CPTC HOLDINGS LLC</BusinessNameLine1Txt>
        </RelatedOrganizationName>
        <USAddress>
          <AddressLine1Txt>40 E MAIN ST BOX 644</AddressLine1Txt>
          <CityNm>NEWARK</CityNm>
          <StateAbbreviationCd>DE</StateAbbreviationCd>
          <ZIPCd>19711</ZIPCd>
        </USAddress>
        <EIN>834331648</EIN>
        <PrimaryActivitiesTxt>INVESTMENT</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>DE</LegalDomicileStateCd>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>P3 FDN</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <EntityTypeTxt>C CORP</EntityTypeTxt>
        <ControlledOrganizationInd>false</ControlledOrganizationInd>
      </IdRelatedOrgTxblCorpTrGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>false</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>false</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>false</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
    </IRS990ScheduleR>
  </ReturnData>
</Return>
