8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): February 16, 2006

AMERICAN MORTGAGE ACCEPTANCE COMPANY

(Exact Name of Registrant as Specified in Charter)

MASSACHUSETTS

(State or other Jurisdiction of Incorporation)

0-23972	13-6972380
(Commission File Number)	(IRS Employer Identification Number)

625 Madison Avenue, New York, NY 10022

(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (212) 317-5700

                                               Not Applicable                                              

(Former Name or Former Address, if Changed Since Last Report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

__ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

__ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

__ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

__ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

John A. Garth will be stepping down from his position as Chief Operating Officer of American Mortgage Acceptance Company ("AMAC") prior to the end of the first quarter. Mr. Garth will be leaving the company to pursue other opportunities.

The press release issued by AMAC on February 23, 2006 in connection with Mr. Garth’s departure is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(a). Financial Statements

Not Applicable.

(b). Pro Forma Financial Information

Not Applicable.

(c). Exhibits

Exhibit 99.1 Press Release dated February 23, 2006, "American Mortgage Acceptance Company Announces Management Changes".

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

American Mortgage Acceptance Company

(Registrant)

BY:	/s/ Alan P. Hirmes
	Alan P. Hirmes
	Chief Financial Officer

February 23, 2006

EX-99

Exhibit 99.1

AMERICAN MORTGAGE ACCEPTANCE COMPANY

ANNOUNCES MANAGEMENT CHANGE

New York, NY – February 23, 2006 – American Mortgage Acceptance Company (“AMAC” or the “Company”) (AMEX: AMC) today announced that John Garth, the Company’s Chief Operating Officer, will be stepping down from his position prior to the end of the first quarter. Mr. Garth will be leaving the Company to pursue other opportunities.

“John was a valued member of the AMAC team and we will be sorry to see him leave,” said Marc D. Schnitzer, President of AMAC. “Through AMAC’s affiliation with CharterMac, the parent company of its advisor, AMAC has the benefit of access to a very broad origination platform that will continue to originate loans on AMAC’s behalf. In addition, AMAC has a dedicated team of CharterMac employees that continue to operate the Company. While we are actively searching for a new head of loan originations for AMAC, we do not anticipate any disruption in the execution of AMAC’s business plan.”

About the Company

AMAC is a real estate investment trust that specializes in multifamily and commercial mortgage finance. AMAC originates and acquires mezzanine loans, bridge loans and government insured first mortgages secured by properties throughout the United States. For more information, please visit our website at www.americanmortgageco.com or contact the Corporate Communications Department directly at (800) 831-4826.

Certain statements in this press release may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are detailed in AMAC’s most recent Annual Report on Form 10-K for the period ended December 31, 2004, and in its other filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. AMAC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in AMAC’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

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