Greystone Housing Impact Investors (GHI) Company Report

Greystone Housing Impact Investors LP (GHI) and its affiliate, Greystone Select Incorporated (GSI), entered into guaranty agreements dated December 31, 2025, in favor of BANKUNITED, N.A., related to a new Loan Agreement.
The Loan Agreement establishes new financial obligations for GHI SOUTH CAROLINA HOLDINGS LLC and other GHI SOUTH CAROLINA entities as the Borrower.
Under the GSI Guaranty, Greystone Select Incorporated will guarantee $8,400,000 of the Loan Agreement's liabilities, reducible to 10% of the outstanding principal upon prepayment.
Greystone Housing Impact Investors LP is subject to financial covenants, including maintaining Liquid Assets of at least $6,250,000 and an LP Net Worth of at least $200,000,000 quarterly.
Greystone Select Incorporated must maintain total liquidity of at least $30,000,000, total net worth of at least $370,000,000, and a leverage ratio no greater than 4.50:1.00 as of the last day of each fiscal quarter.

Jan 7, 2026, 9:30 PM

GHI Reports Q3 2025 Results and Announces Strategic Shift

GHI

Earnings

New Projects/Investments

Convertible Preferred Issuance

Greystone Housing Impact Investors LP reported net income of $2 million, or $0.03 per unit, and cash available for distribution (CAD) of $4.6 million, or $0.20 per unit, for Q3 2025. The book value per unit increased to $12.36 as of September 30, 2025.
The company announced a strategic shift to reduce capital allocation to joint venture equity investments in market-rate multifamily properties, instead focusing on tax-exempt mortgage revenue bond investments to achieve more stable earnings and increase the proportion of tax-exempt income for unit holders.
As of September 30, 2025, GHI maintained strong liquidity with $36.2 million in unrestricted cash and cash equivalents and $88.6 million of availability on secured lines of credit. Additionally, the company issued $5 million of Series B preferred units in October 2025.
The debt investments portfolio totaled $1.26 billion as of September 30, 2025, with no forbearance requests and all borrowers current on principal and interest payments. A provision for credit losses of $596,000 was recorded for Q3 2025, primarily related to a support loan for an existing mortgage revenue bond borrower.

Nov 6, 2025, 9:30 PM

Greystone Housing Impact Investors LP Reports Q3 2025 Financial Results and Strategic Shift

GHI

Earnings

New Projects/Investments

Convertible Preferred Issuance

Greystone Housing Impact Investors LP reported total revenues of $21.7 million, net income of $2.0 million ($0.03 per BUC), and Cash Available for Distribution (CAD) of $4.6 million ($0.20 per BUC) for the third quarter ended September 30, 2025.
As of September 30, 2025, the Partnership's total assets were $1.49 billion, with total Mortgage Revenue Bond (MRB) and Governmental Issuer Loan (GIL) investments at $1.13 billion.
The Partnership announced a strategic shift to reduce capital allocation to market rate multifamily joint venture equity investments, intending to redeploy capital into primarily tax-exempt mortgage revenue bond investments due to challenging market conditions.
In October 2025, the Partnership issued Series B Preferred Units for gross proceeds of $5.0 million to a new investor, with intentions to use the proceeds for new investments, existing commitments, and general operations.
Investment activity during Q3 2025 included approximately $27.5 million in advances and acquisitions of MRB, taxable MRB, taxable GIL, and property loan investments, and $29.0 million in redemptions and paydowns of MRB investments.

Nov 6, 2025, 1:30 PM

Greystone Housing Impact Investors LP Issues Series B Preferred Units

GHI

Debt Issuance

New Projects/Investments

Greystone Housing Impact Investors LP (GHI) issued 500,000 Series B Preferred Units to ServisFirst Bank on October 9, 2025.
This issuance generated $5,000,000 in aggregate proceeds for the Partnership.
The proceeds will be utilized to acquire mortgage revenue bonds for affordable multifamily, student housing, senior citizen, and commercial properties, along with other allowable investments.
The Series B Preferred Units are non-cumulative, non-convertible, and non-voting, with the earliest potential redemption date in October 2031.
CEO Kenneth C. Rogozinski stated that this issuance provides non-dilutive, fixed-rate, and low-cost institutional capital.

Oct 14, 2025, 12:45 PM

Greystone Housing Impact Investors LP Declares Quarterly Cash Distribution

GHI

Dividends

Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.30 per Beneficial Unit Certificate (BUC) on September 16, 2025.
The cash distribution will be paid on October 31, 2025, to BUC holders of record as of the close of trading on September 30, 2025.
The BUCs will trade ex-distribution as of September 30, 2025.