Item 7.01 Regulation FD Disclosure.
On April 1, 2009, Municipal Mortgage & Equity, LLC ("the Company,") completed
the first closing of the sale of substantially all of the renewable energy
business operated by its subsidiary, MMA Renewable Ventures, LLC.
On February 26, 2009, the Company agreed to sell the assets of MMA Renewable
Ventures, LLC, other than its interests in its Solar Funds I and II, to
Fotowatio Renewable Ventures, Inc., a subsidiary of Fotowatio S.L for an
aggregate purchase price of $19.7 million. At the initial signing, Fotowatio
made an advance payment to the Company of $1.5 million, which was applied
against the purchase price. The sale was structured to occur in two separate
closings. The first closing, which was completed on April 1, 2009, covered core
assets, inclusive of employees, the pipeline of potential future transactions
and MMA Renewable Ventures, LLC's interests in its Solar Fund III, with a
payment of $13.65 million. Ten percent of the proceeds received from the first
closing are being held in escrow for a six month period to secure certain
potential indemnification obligations of the Company under the Purchase
Agreement. A subsequent closing or closings will cover the remaining assets that
are included in the sale and the balance of payment, which will be subject to
possible purchase price adjustments, including a purchase price reduction if the
Company exercises a right to retain certain assets.
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