Filing Analysis
Greystone Housing Impact Investors LP announced the sale of its 'Vantage at Loveland' asset and the subsequent redemption of the Partnership's equity investment on August 17, 2026.
📋 Key Facts
- Sale of asset: Vantage at Loveland.
- Action: Redemption of the Partnership's equity investment related to the sale.
- Report date: August 17, 2026.
- The filing includes a press release (Exhibit 99.1) regarding the transaction.
Greystone Housing Impact Investors LP has filed an 8-K to announce its second quarter financial results for the period ended June 30, 2026. The filing includes a press release and supplemental non-GAAP financial information.
🚩 Red Flags
- The filing is signed by an 'Interim' Chief Financial Officer, which may suggest recent turnover or instability in the finance department.
📋 Key Facts
- Reported date: August 10, 2026
- Reporting period: Second quarter ended June 30, 2026
- The company issued a press release (Exhibit 99.1) regarding financial results.
- Supplemental non-GAAP information was provided via Exhibit 99.2 and the company website.
- Interim CFO Eric R. Nielsen signed the report.
Greystone Housing Impact Investors LP announced an upcoming conference call scheduled for August 11, 2026, to discuss the company's Second Quarter 2026 financial results.
📋 Key Facts
- Conference call date: Tuesday, August 11, 2026, at 9:00 a.m. ET.
- Purpose of call: To discuss Second Quarter 2026 results.
- Filing date: July 23, 2026.
Greystone Housing Impact Investors LP announced the resignation of its Chief Financial Officer, Jesse Coury, effective June 30, 2026. To facilitate a smooth transition, Mr. Coury will serve as an independent contractor at a rate of $300 per hour through September 30, 2026.
🚩 Red Flags
- Sudden departure of a key executive (CFO) can sometimes signal internal friction or disagreements over financial reporting, though no such cause is stated here.
📋 Key Facts
- Jesse Coury resigned as Chief Financial Officer on June 30, 2026.
- An Independent Contractor Agreement was entered into on June 30, 2026.
- The contractor agreement provides for a fee of $300 per hour for as-needed services.
- The transitionary contract term expires on September 30, 2026.
- The agreement includes customary confidentiality and restrictive covenants.
Greystone Housing Impact Investors LP issued a press release on June 18, 2026, notifying investors that their Schedule K-3 tax information is now available online.
📋 Key Facts
- The filing date is June 18, 2026.
- The company is providing notice regarding the availability of Schedule K-3 tax documents.
- The press release is attached as Exhibit 99.1.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.14 per Beneficial Unit Certificate (BUC). The distribution is payable on July 31, 2026, to holders of record as of June 30, 2026.
🚩 Red Flags
- The 'Forward-Looking Statements' section explicitly mentions a 'material weakness in its internal control over financial reporting' that the Partnership needs to remediate.
📋 Key Facts
- Cash distribution amount: $0.14 per BUC
- Record date: June 30, 2026
- Payment date: July 31, 2026
- Ex-distribution date: June 30, 2026
Greystone Housing Impact Investors LP announced the resignation of CFO Jesse A. Coury effective June 30, 2026, and the appointment of Eric R. Nielsen as interim CFO effective July 1, 2026.
📋 Key Facts
- Jesse A. Coury resigned as CFO effective June 30, 2026.
- Eric R. Nielsen, the current Corporate Controller since 2020, appointed as interim CFO effective July 1, 2026.
- The resignation was explicitly stated as not related to any disagreement regarding financial, accounting, or other matters.
- Mr. Nielsen's professional background includes roles at Oriental Trading Company (Berkshire Hathaway) and Deloitte & Touche LLP.
Greystone Housing Impact Investors LP announced its financial results for the first quarter ended March 31, 2026. The filing includes a press release and supplemental financial information furnished to the SEC.
📋 Key Facts
- Announced Q1 2026 financial results on May 11, 2026.
- Furnished press release as Exhibit 99.1.
- Provided supplemental financial and operations information via Exhibit 99.2.
- Disclosures made under Item 2.02 (Results of Operations) and Item 7.01 (Regulation FD).
Greystone Housing Impact Investors LP announced it will host a conference call on May 12, 2026, to discuss its financial results for the first quarter of 2026.
📋 Key Facts
- The company will host a conference call on Tuesday, May 12, 2026, at 9:00 a.m. Eastern Time.
- The call is intended to discuss First Quarter 2026 financial results.
- The press release announcing the call was furnished as Exhibit 99.1.
Greystone Housing Impact Investors LP announced a quarterly cash distribution of $0.14 per Beneficial Unit Certificate (BUC) and provided supplemental financial information for the fourth quarter of 2025.
🚩 Red Flags
- Forward-looking statements highlight an ongoing 'material weakness in its internal control over financial reporting' that the partnership is attempting to remediate.
📋 Key Facts
- A quarterly cash distribution of $0.14 per BUC was declared on March 18, 2026.
- The distribution is payable on April 30, 2026, to holders of record as of March 31, 2026.
- Supplemental financial and operations information for Q4 2025 was released on the company's website.
- The partnership's BUCs trade on the New York Stock Exchange under the symbol 'GHI'.
Greystone Housing Impact Investors LP announced a conference call for March 19, 2026, to discuss its Q4 2025 financial results and confirmed the availability of 2025 Schedule K-1 tax forms.
📋 Key Facts
- Conference call scheduled for March 19, 2026, at 4:30 p.m. ET to discuss Q4 2025 results.
- Tax Year 2025 Schedule K-1 forms are available electronically and paper copies are being mailed.
- The Partnership filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, on March 16, 2026.
Greystone Housing Impact Investors LP (GHI) furnished its financial results for the fourth quarter and fiscal year ended December 31, 2025. The announcement was made via a press release on March 16, 2026, and included as an exhibit to the filing.
📋 Key Facts
- Announced financial results for the fourth quarter and fiscal year ended December 31, 2025
- The report was filed and dated March 16, 2026
- The information was furnished under Item 2.02 (Results of Operations and Financial Condition)
Greystone Housing Impact Investors LP (GHI) amended a loan agreement to increase its principal by $42 million to a total of $84 million. The proceeds were used to acquire two multifamily properties in South Carolina via deed in lieu of foreclosure after the previous owners defaulted on mortgage revenue bonds held by the Partnership.
🚩 Red Flags
- Events of default occurred in February 2026 on the underlying mortgage revenue bonds held by the Partnership.
- Properties failed to meet operating performance requirements despite completed rehabilitation.
- Significant increase in direct debt obligations to $84 million.
📋 Key Facts
- Entered into a First Amendment to Loan Agreement with BankUnited, N.A. on February 27, 2026.
- Total principal amount outstanding under the amended agreement is $84,000,000.
- Acquired Windsor Shores Apartments (176 units) and Century Plaza Apartments (212 units) via deed in lieu of foreclosure.
- The properties defaulted in February 2026 due to an inability to achieve required operating results post-rehabilitation.
- The loan bears interest at 1-month Term SOFR plus 2.75%.
- New financial covenants require a debt service coverage ratio of 1.00:1.00 by February 15, 2027, and 1.05:1.00 by June 30, 2027.
This is an amendment to a previous 8-K filing intended to correct a typographical error regarding a hyperlink. The primary substantive event reported in the original filing (which this amendment references) was the appointment of Alfonso Costa Jr. to the Board of Managers.
🚩 Red Flags
- None identified in this amendment; the filing is a corrective administrative action.
📋 Key Facts
- The filing is an Amendment No. 1 to a Form 8-K originally filed on January 20, 2026.
- Purpose of amendment: To include a missing hyperlink to the Press Release dated January 20, 2026 under Item 9.01.
- Alfonso Costa Jr. was appointed as a member of the Board of Managers of Greystone AF Manager LLC effective January 15, 2026.
- Mr. Costa is not considered an independent director due to an existing advisory relationship with an affiliated entity.
- Mr. Costa's background includes serving as Deputy Chief of Staff & Opportunity Zones lead at HUD (2018-2020) and current COO of the Falcone Group.
Greystone Housing Impact Investors LP announced the appointment of Alfonso Costa Jr. to its Board of Managers, effective January 15, 2026. Mr. Costa is a non-independent director due to existing advisory relationships with an affiliate.
🚩 Red Flags
- Director is classified as non-independent per NYSE/SEC standards.
📋 Key Facts
- Alfonso Costa Jr. appointed as a member of the Board of Managers of Greystone AF Manager LLC, effective January 15, 2026.
- Mr. Costa will act in the capacity as a director of Greystone Housing Impact Investors LP (the 'Partnership').
- The appointment was made by GHI GP Holdings LLC, the sole member of Greystone AF Manager LLC.
- Mr. Costa is determined to be non-independent under NYSE and SEC rules due to an advisory relationship with an affiliate.
Greystone Housing Impact Investors LP entered into a $84 million loan agreement with BankUnited, N.A., of which $42 million has been initially drawn to acquire two multifamily properties in South Carolina via deed in lieu of foreclosure. The transaction involves significant debt service coverage requirements and follows the acquisition of distressed assets from a non-profit entity.
🚩 Red Flags
- Acquisition of assets via deed in lieu of foreclosure suggests the underlying properties were under financial distress/default.
- Strict debt service coverage ratio (DSCR) covenants: 1.00:1.00 by Dec 31, 2026, and 1.10:1.00 by June 30, 2027.
- High default interest rate penalty (+5% over the base rate).
- Requirement to post cash or letters of credit if financial covenants are not met.
📋 Key Facts
- Entered into a Loan Agreement with BankUnited, N.A. for up to $84,000,000 on December 31, 2025.
- Initial promissory note of $42,000,000 drawn as of January 2, 2026, used to acquire 'The Park at Sondrio Apartments' and 'The Park at Vietti Apartments'.
- Acquisition occurred via deed in lieu of foreclosure from Opportunity South Carolina due to operating result failures.
- Interest rate is Term SOFR + 2.75%, resetting monthly; default rate is an additional 5% if a default occurs.
- Maturity date set for December 31, 2027, with a potential extension to 2028.
- Requires mandatory swap agreements to hedge floating interest rates.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.25 per Beneficial Unit Certificate (BUC). The distribution is scheduled to be paid on January 30, 2026.
📋 Key Facts
- Cash Distribution amount: $0.25 per BUC
- Record Date: Close of trading on December 31, 2025
- Payment Date: January 30, 2026
- Ex-distribution date: December 31, 2025
- The distribution was declared by the Board of Managers of Greystone AF Manager LLC.
Greystone Housing Impact Investors LP has terminated its 'at the market' (ATM) sales agreement with JonesTrading Institutional Services LLC and BTIG, LLC. The agreement allowed for the sale of up to $50 million in beneficial unit certificates.
🚩 Red Flags
- Termination of an ATM offering can sometimes indicate a company's inability to raise capital at favorable terms or a decision to cease dilution, though it is often a neutral administrative action.
📋 Key Facts
- Termination effective December 11, 2025.
- The terminated agreement was an 'Amended and Restated Capital on Demand' Sales Agreement dated March 8, 2024.
- The total aggregate offering price under the agreement was up to $50,000,000.
- Agents involved were JonesTrading Institutional Services LLC and BTIG, LLC.
- Commission rate for sales was 2.0% of the aggregate gross price.
Greystone Housing Impact Investors LP has dismissed its long-standing auditor, PwC, and appointed Grant Thornton LLP as its new independent registered public accounting firm. The change is a proactive measure to avoid potential independence conflicts arising from non-audit services requested by an affiliate.
🚩 Red Flags
- Auditor change (though explicitly stated as not due to disagreement, it remains a high-scrutiny event).
📋 Key Facts
- Dismissed PricewaterhouseCoopers LLP (PwC) effective November 17, 2025.
- Engaged Grant Thornton LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2025.
- The change was not due to disagreements regarding accounting principles, financial disclosures, or auditing procedures.
- PwC had served as the auditor since 2016.
- The decision was made to proactively avoid independence issues related to non-audit services requested by an indirect parent (GSI) of the Partnership's manager.
Greystone Housing Impact Investors LP filed an 8-K to announce its third quarter financial results for the period ended September 30, 2025. The filing includes a press release and supplemental financial information provided via Regulation FD.
📋 Key Facts
- Report date: November 6, 2025
- Reporting period: Third Quarter ended September 30, 2025
- The company issued a press release (Exhibit 99.1) regarding financial results.
- Supplemental non-GAAP financial and operational information was provided via Regulation FD (Exhibit 99.2).
Greystone Housing Impact Investors LP announced an upcoming conference call scheduled for November 6, 2025, to discuss the company's Third Quarter 2025 financial results.
📋 Key Facts
- Conference call date: Thursday, November 6, 2025
- Conference call time: 4:30 p.m. Eastern Time
- Purpose of call: To discuss Third Quarter 2025 results
- Filing date: October 22, 2025
Greystone Housing Impact Investors LP issued 500,000 Series B Preferred Units to ServisFirst Bank for $5 million in aggregate proceeds. The capital is earmarked for acquiring mortgage revenue bonds and other allowable investments.
🚩 Red Flags
- Issuance of preferred units may imply a need for non-debt capital to fund operations or acquisitions.
- The filing notes 'no resale registration rights' in the subscription agreement, which could limit liquidity for the investor.
📋 Key Facts
- Date of transaction: October 9, 2025
- Securities issued: 500,000 Series B Preferred Units (limited partnership interests)
- Total proceeds: $5,000,000
- Investor: ServisFirst Bank
- Use of proceeds: Acquisition of mortgage revenue bonds (state/local housing authorities) and other allowable investments per the Partnership's Second Amended and Restated Agreement.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.30 per Beneficial Unit Certificate (BUC). The distribution is scheduled to be paid on October 31, 2025.
📋 Key Facts
- Cash Distribution amount: $0.30 per BUC
- Record Date: September 30, 2025
- Payment Date: October 31, 2025
- Ex-distribution date: September 30, 2025
The Partnership is disclosing supplemental financial and operational information for the second quarter of 2025 via its website. This disclosure is intended to satisfy Regulation FD requirements and does not constitute a full set of GAAP-compliant financial statements.
📋 Key Facts
- Report date: August 11, 2025
- Disclosure pertains to selected financial and operations information from Q2 2025
- Information is being made available on the company website (www.ghiinvestors.com)
- The information provided under Item 7.01 is not considered 'filed' for purposes of Section 18 of the Exchange Act or Sections 11/12(a)(2) of the Securities Act
- Information is derived from GAAP-compliant statements but is not a complete set of financial statements
Greystone Housing Impact Investors LP filed an 8-K to announce its financial results for the second quarter ended June 30, 2025. The filing serves as a formal announcement of the earnings release via Exhibit 99.1.
📋 Key Facts
- Report date: August 7, 2025
- Reporting period: Second Quarter ended June 30, 2025
- The filing includes a press release regarding financial results as Exhibit 99.1
- Signed by Jesse A. Coury, Chief Financial Officer
The company announced an upcoming conference call scheduled for August 7, 2025, to discuss its Second Quarter 2025 financial results.
📋 Key Facts
- Conference call date: Thursday, August 7, 2025
- Conference call time: 4:30 p.m. Eastern Time
- Purpose of call: To discuss Second Quarter 2025 results
- Filing date: July 23, 2025
Greystone Housing Impact Investors LP entered into a new $80 million credit agreement with Bankers Trust Company to replace an expiring agreement. The facility is designed for short-term financing of affordable housing assets and mortgage-backed securities.
🚩 Red Flags
- The filing is an amendment (8-K/A) specifically to correct the omission of the expiration date of the previous agreement, which was June 2025.
- Contains a default trigger if the partnership's total capital falls below $227,000,000 or 50% of its historical high.
📋 Key Facts
- Entered into a Credit Agreement on June 30, 2025, with Banker Trust Company as Agent.
- Total credit facility amount: up to $80,000,000.
- The agreement replaces the previous credit agreement which expired in June 2025.
- As of June 30, 2025, only $1,000,000 of the principal was outstanding.
- Interest rate: Adjusted Term SOFR + 2.50%, resetting monthly.
- Maturity date is set for June 30, 2027, with options for two 12-month extensions.
- The facility includes a requirement to maintain a Leverage Ratio of no greater than 85%.
Greystone Housing Impact Investors LP entered into a new $80 million credit agreement with Bankers Trust Company to replace its existing 2021 credit facility. The new facility is designed to finance the acquisition of affordable housing assets, mortgage-backed securities, and master lease agreements.
🚩 Red Flags
- Default trigger: A decline in total capital below $227,000,000 or 50% of the highest total capital since the agreement date.
- Default trigger: Delisting from the New York Stock Exchange (NYSE).
- Default trigger: Failure to file Form 10-K within 90 days or 10-Q within 45 days.
📋 Key Facts
- Entered into a Credit Agreement for up to $80,000,000 on June 30, 2025.
- The agreement replaces the Prior Credit Agreement dated August 23, 2021.
- Interest rate is Adjusted Term SOFR plus 2.50%, resetting monthly.
- Maturity date is set for June 30, 2027, with options for two 12-month extensions.
- As of June 30, 2025, $1,000,000 in principal remains outstanding under the previous arrangement.
- The facility includes a commitment fee of 0.15% on unused amounts and an arranger fee of $80,000 paid to Agent.
Greystone Housing Impact Investors LP announced that a proposal to extend the term of its 2015 Equity Incentive Plan until June 24, 2027, failed to receive sufficient votes from beneficial unit certificate holders.
🚩 Red Flags
- Low voter turnout: Only 34.8% of beneficial unit certificates participated in the vote, indicating significant lack of engagement or dissatisfaction among holders.
📋 Key Facts
- The Consent Solicitation expired on June 16, 2025.
- Proposal: Amend the 2015 Equity Incentive Plan to extend its term to June 24, 2027.
- Total BUCs outstanding as of Record Date (April 28, 2025): 23,397,437.
- Required votes for approval: A majority of BUCs outstanding (11,698,719).
- Votes cast 'For': 7,003,553.
- Votes cast 'Against' or 'Abstain/Non-vote': 1,128,204.
- Total participation in vote: 8,131,758 BUCs (representing only 34.8% of outstanding units).
Greystone Housing Impact Investors LP entered into a Sixth Amendment to its Credit Agreement on June 12, 2025, which extends the maturity date to June 12, 2027, and increases a specific line of credit facility. The amendment also modifies asset composition requirements for the portfolio.
🚩 Red Flags
- Frequent amendments to credit facilities (this is the 6th amendment since 2021), suggesting ongoing restructuring or refinancing needs.
- Modification of asset composition requirements may indicate a shift in risk profile or a need to rebalance collateral to meet lender requirements.
📋 Key Facts
- Sixth Amendment to Credit Agreement signed on June 12, 2025, with BankUnited, N.A., Bankers Trust Company, and NexBank.
- Increased maximum principal amount of the Bankers Trust Company line of credit from $50,000,000 to $80,000,000.
- Initial Maturity Date extended to June 12, 2027.
- New asset allocation requirements: Equity Partnership Investments and Other Senior Real Estate Investments must be ≥ 70% of portfolio; Senior Housing Investments must be ≤ 30%.
- Paid $200,000 commitment fee, $75,000 arrangement fee, and $10,000 administrative fee at closing.
- Affiliate Greystone Select Incorporated entered into a Third Amended and Restated Guaranty.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.30 per Beneficial Unit Certificate (BUC). The filing also notes the public listing for sale of 'Vantage at Fair Oaks'.
📋 Key Facts
- Declaration of a regular quarterly cash distribution of $0.30 per BUC.
- Distribution record date: June 30, 2025 (close of trading).
- Distribution payment date: July 31, 2025.
- Securities will trade ex-distribution on June 30, 2025.
- Announcement of the public listing for sale of Vantage at Fair Oaks.
Greystone Housing Impact Investors LP issued an 8-K to announce the availability of investor tax information via Schedule K-3. This is a routine administrative filing related to partnership tax reporting.
📋 Key Facts
- The company announced that Schedule K-3 tax information is now available online as of June 10, 2025.
- The filing includes a press release (Exhibit 99.1) regarding the availability of this tax data.
The Partnership is disclosing supplemental financial and operational information for the first quarter of 2025 via its website. This disclosure is made pursuant to Regulation FD and does not constitute a full set of GAAP-compliant financial statements.
📋 Key Facts
- Report date: May 8, 2025
- Disclosure pertains to selected financial and operations information for Q1 2025
- Information is hosted on the company website (www.ghiinvestors.com)
- The data provided in Exhibit 99.1 is not considered 'filed' under Section 18 of the Exchange Act, limiting liability.
Greystone Housing Impact Investors LP has filed an 8-K to announce its financial results for the first quarter ended March 31, 2025. The filing serves as a formal announcement of the earnings release via Exhibit 99.1.
📋 Key Facts
- Reporting period: First Quarter ended March 31, 2025.
- Filing date: May 7, 2025.
- The filing contains a press release (Exhibit 99.1) regarding financial results but does not include the full text of the results in this specific document.
Greystone Housing Impact Investors LP has announced its intent to host a conference call on May 7, 2025, to discuss the company's First Quarter 2025 financial results.
📋 Key Facts
- Conference call scheduled for Wednesday, May 7, 2025, at 4:30 p.m. ET.
- The purpose of the call is to discuss Q1 2025 results.
- Filing includes a press release as Exhibit 99.1.
Greystone Housing Impact Investors LP completed a $20 million issuance of 2,000,000 Series B Preferred Units to PNC Community Development Company, LLC. The proceeds are earmarked for the acquisition of mortgage revenue bonds and other allowable investments.
🚩 Red Flags
- Issuance of preferred units may imply a need for capital to fund operations or acquisitions, though specific debt levels are not disclosed in this filing.
📋 Key Facts
- Date of transaction: March 26, 2025
- Total aggregate proceeds: $20,000,000
- Securities issued: 2,000,000 Series B Preferred Units (limited partnership interests)
- Investor: PNC Community Development Company, LLC
- Use of proceeds: Acquisition of mortgage revenue bonds (state/local housing authority issued) and other allowable investments per the Partnership's Second Amended and Restated Agreement.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.37 per Beneficial Unit Certificate (BUC). The distribution is scheduled to be paid on April 30, 2025.
📋 Key Facts
- Cash Distribution amount: $0.37 per BUC
- Record Date: March 31, 2025
- Payment Date: April 30, 2025
- Ex-distribution date: March 31, 2025
- The distribution was declared by the Board of Managers of Greystone AF Manager LLC.
The Partnership is disclosing supplemental financial and operational information for the fourth quarter of 2024 via its website. This disclosure is made pursuant to Regulation FD and does not constitute a full set of GAAP-compliant financial statements.
🚩 Red Flags
- The disclosure is explicitly noted as 'not a complete set of financial statements' and does not represent full GAAP compliance, which can sometimes be used to highlight specific metrics while omitting less favorable data.
📋 Key Facts
- Report date: March 5, 2025
- Disclosure pertains to selected financial and operations information from Q4 2024
- Information is hosted on the company website (www.ghiinvestors.com)
- The information provided under Item 7.01 is not considered 'filed' for purposes of Section 18 of the Exchange Act or Sections 11/12(a)(2) of the Securities Act
- Information is not GAAP-compliant in its entirety and is intended to supplement existing filings
The Partnership issued a press release announcing the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Additionally, it notified investors that 2024 Schedule K-1 forms are now available.
📋 Key Facts
- Annual Report (Form 10-K) for FY ended Dec 31, 2024 was filed on February 20, 2025.
- Investor Tax Year 2024 Schedule K-1 forms are available electronically.
- Paper copies of K-1s will be mailed to addresses on file.
Greystone Housing Impact Investors LP has filed an 8-K to announce its financial results for the fourth quarter and full fiscal year ended December 31, 2024.
📋 Key Facts
- Report date: February 20, 2025
- Reporting period: Q4 and Year Ended December 31, 2024
- The filing includes a press release (Exhibit 99.1) containing the financial results.
- Information furnished under Item 2.02 is not deemed 'filed' for purposes of Section 18 or liability under Sections 11 and 12(a)(2).
Greystone Housing Impact Investors LP has announced an upcoming conference call scheduled for February 20, 2025, to discuss its financial results for the fourth quarter of 2024.
📋 Key Facts
- Conference call date: Thursday, February 20, 2025, at 4:30 p.m. ET.
- Purpose of call: To discuss Fourth Quarter 2024 results.
- Filing date: February 6, 2025.
Greystone Housing Impact Investors LP announced the sale of its 'Vantage at Tomball' asset and a subsequent redemption of the Partnership's equity investment on February 4, 2025.
🚩 Red Flags
- Redemption of equity interest may impact total assets under management (AUM) or liquidity profile depending on the scale of the redemption.
📋 Key Facts
- Asset Sale: The Partnership completed the sale of Vantage at Tomball in Q1 2025.
- Equity Redemption: The sale triggered a redemption of the Partnership’s equity investment.
- Reporting Date: February 4, 2025.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.37 per Beneficial Unit Certificate (BUC). The distribution is scheduled to be paid on January 31, 2025.
📋 Key Facts
- Cash Distribution amount: $0.37 per BUC
- Record Date: December 31, 2024
- Payment Date: January 31, 2025
- Ex-distribution date: December 31, 2024
Greystone Housing Impact Investors LP entered into an Exchange Agreement and an Amended and Restated Trust Agreement to restructure its TEBS Residual Financing Facility. The transaction involves substituting previously redeemed M31 Class B Certificates with new Residual Receipts through a sale from the Seller to the Issuer.
🚩 Red Flags
- Complex securitization structure involving multiple entities (Partnership, Seller/Affiliate, Issuer, Trustee) which can increase transparency risks.
- The use of an affiliate (ATAX TEBS II, LLC) as the 'Seller' in the exchange agreement constitutes a related-party transaction.
📋 Key Facts
- On November 22, 2024, the Partnership entered into an Exchange Agreement involving ATAX TEBS II, LLC (the Seller) and the Wisconsin Public Financing Authority (the Issuer).
- The transaction involves the substitution of redeemed M31 Class B Certificates with Residual Receipts representing interests in 14 mortgage revenue bonds.
- Approximately $23.7 million was paid to the trustee on October 15, 2024, for the redemption of M31 Class B Certificates.
- The Exchange Agreement resulted in approximately $14.8 million being released to the Partnership and $8.6 million as principal repayment to Class B-1 Certificate holders.
- An Amended and Restated Trust Agreement was executed to update terms regarding cash flow distributions, management of certificates, and tax matters.
Greystone Housing Impact Investors LP has filed an 8-K to provide supplemental, non-GAAP financial and operational information for the third quarter of 2024 via its website. This disclosure is intended to comply with Regulation FD requirements.
🚩 Red Flags
- Information provided is non-GAAP and does not represent a complete set of financial statements.
📋 Key Facts
- The filing provides supplemental financial and operations information for Q3 2024.
- Information is hosted on the company's website: www.ghiinvestors.com.
- The disclosed data is not a complete set of GAAP-compliant financial statements.
- The information furnished under Item 7.01 is not considered 'filed' for purposes of Section 18 of the Exchange Act or liability under Sections 11 and 12(a)(2) of the Securities Act.
Greystone Housing Impact Investors LP filed an 8-K to announce its third quarter financial results for the period ended September 30, 2024. The filing serves as a formal announcement of the release of earnings via press release.
📋 Key Facts
- Report date: November 6, 2024
- Reporting period: Third quarter ended September 30, 2024
- The company issued a press release (Exhibit 99.1) containing the financial results.
- The information provided under Item 2.02 is furnished but not 'filed' for purposes of Section 18 or liability under Sections 11 and 12(a)(2).
Greystone Housing Impact Investors LP entered into a $75.4 million securitization transaction involving 14 mortgage revenue bonds. The deal, structured through its subsidiary ATAX TEBS II, LLC, involves the issuance of Class A Certificates to fund the acquisition of custodial receipts.
🚩 Red Flags
- The transaction is classified as a 'secured financing' for financial reporting purposes, indicating the assets are likely treated as collateral rather than a true sale for accounting purposes.
📋 Key Facts
- Transaction date: October 31, 2024
- Gross proceeds: Approximately $75.4 million
- Net cash received by Sponsor: $74.2 million after $1.2 million in transaction costs
- Underlying assets: 14 mortgage revenue bonds (Custodial Receipts)
- Class A Certificate interest rate: 4.10% per annum, payable monthly
- Transaction structure: Secured financing of the Partnership; Class A Certificates purchased by Jefferies LLC and resold to unaffiliated investors
- Fees: Trustee fee of 0.03% p.a.; Credit enhancement/servicing fees of 0.77% p.a.; Administrator fee of 0.07% p.a. (waived while Partnership is Administrator)
Greystone Housing Impact Investors LP announced it will host a conference call on November 6, 2024, to discuss its Third Quarter 2024 financial results.
📋 Key Facts
- Conference call scheduled for Wednesday, November 6th, 2024, at 4:30 p.m. ET.
- The purpose of the call is to discuss Q3 2024 results.
- Filing includes a press release as Exhibit 99.1.
Greystone Housing Impact Investors LP terminated its M31 Tax-Exempt Bond Securitization (TEBS) debt financing facility, redeeming all outstanding principal and interest. The termination involved the redemption of $65.5 million in borrowings through a combination of asset transfers to other facilities and cash on hand.
🚩 Red Flags
- Restructuring of debt involves transferring assets to 'short-term financing' facilities while seeking alternatives, indicating potential liquidity management needs.
- Complexity of the transaction involving multiple affiliates and various bond types (Class A/B certificates).
📋 Key Facts
- Redemption of M31 TEBS debt facility completed on October 15, 2024.
- Total outstanding principal and accrued interest at termination was $65.5 million.
- The facility involved the securitization of mortgage revenue bonds (MRBs) through Freddie Mac's TEBS program.
- Five MRBs were transferred to Tender Option Bond (TOB) financing facilities as part of the restructuring.
- Five MRBs were transferred to a counterparty for short-term financing while alternative financing is sought.
- The Partnership took direct ownership of the remaining MRB after termination.
Greystone Housing Impact Investors LP announced the formation of a joint venture with BlackRock Impact Opportunities Fund to finance affordable multifamily housing construction and rehabilitation projects across the U.S.
📋 Key Facts
- Formation of a joint venture with BlackRock Impact Opportunities Fund on October 17, 2024.
- The partnership's objective is to invest in loans for the construction and/or rehabilitation of affordable multifamily housing properties.
- Geographic scope includes properties across the United States.
Greystone Housing Impact Investors LP announced the public listing for sale of an asset identified as 'Vantage at Hutto' via a press release on September 23, 2024.
📋 Key Facts
- The Partnership issued a press release announcing the public listing for sale of Vantage at Hutto.
- Announcement date: September 23, 2024.
- The filing is an Item 8.01 (Other Events) disclosure.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.37 per Beneficial Unit Certificate (BUC). The distribution is scheduled for payment on October 31, 2024.
📋 Key Facts
- Cash Distribution amount: $0.37 per BUC
- Record Date: September 30, 2024
- Payment Date: October 31, 2024
- Ex-distribution date: September 30, 2024
Greystone Housing Impact Investors LP issued an 8-K to announce the availability of investor tax information via Schedule K-3. This is a routine administrative filing related to tax reporting requirements for limited partnership interests.
📋 Key Facts
- The company announced that investor tax information on Schedule K-3 is now available online.
- The announcement was made via a press release dated August 28, 2024.
- The filing includes Exhibit 99.1 containing the press release.
The Partnership is disclosing supplemental financial and operational information for the second quarter of 2024 via its website. This disclosure is made pursuant to Regulation FD and does not constitute a full set of GAAP-compliant financial statements.
🚩 Red Flags
- The information provided is non-GAAP and supplemental, meaning it lacks the full context of audited or complete quarterly reports.
📋 Key Facts
- Report date: August 8, 2024
- Disclosure pertains to selected financial and operations information from Q2 2024
- Information is hosted on the company website (www.ghiinvestors.com)
- The information provided under Item 7.01 is not considered 'filed' for purposes of Section 18 of the Exchange Act or Sections 11 and 12(a)(2) of the Securities Act
- Information is derived from GAAP-compliant consolidated financial statements but is not a complete set of statements/notes
Greystone Housing Impact Investors LP filed an 8-K to announce its financial results for the second quarter ended June 30, 2024. The filing serves as a formal announcement of the earnings press release issued on August 7, 2024.
📋 Key Facts
- Reporting period: Second Quarter ended June 30, 2024.
- Announcement date: August 7, 2024.
- The filing includes an earnings press release as Exhibit 99.1.
Greystone Housing Impact Investors LP announced it will host a conference call on August 7, 2024, to discuss its second quarter 2024 financial results.
📋 Key Facts
- Conference call scheduled for Wednesday, August 7, 2024, at 4:30 p.m. ET.
- Purpose of the call is to discuss Second Quarter 2024 results.
- Filing includes a press release as Exhibit 99.1.
Greystone Housing Impact Investors LP entered into a Fourth Amendment to its Amended and Restated Credit Agreement with Bankers Trust Company. The amendment extends the Revolving Loan Maturity Date to June 30, 2025, and introduces a new category of financed assets secured by master lease agreements.
🚩 Red Flags
- The necessity of extending the maturity date from June 2024 to June 2025 suggests potential liquidity management needs or a need for more breathing room on debt obligations.
- Multiple amendments (this being the fourth) indicate ongoing restructuring of credit terms.
📋 Key Facts
- Entered into Fourth Amendment to Amended and Restated Credit Agreement on June 24, 2024.
- Revolving Loan Maturity Date extended from June 30, 2024, to June 30, 2025.
- Executed a new Revolving Line of Credit Note with Bankers Trust for up to $50,000,000.
- The new Note replaces the previous Revolving Line of Credit Note dated July 29, 2022.
- Paid an extension fee of $25,000 to Bankers Trust in connection with the amendment.
- Added a new 'Financed Asset' category: taxable or tax-exempt loans secured by master lease agreements guaranteed by Investment Grade Tenants.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.37 per Beneficial Unit Certificate (BUC). The distribution is scheduled to be paid on July 31, 2024.
📋 Key Facts
- Cash Distribution amount: $0.37 per BUC
- Record Date: June 28, 2024 (close of trading)
- Payment Date: July 31, 2024
- Ex-distribution date: June 28, 2024
- The distribution was declared by the Board of Managers of Greystone AF Manager LLC.
Greystone Housing Impact Investors LP filed an 8-K to provide supplemental financial and operational information for the first quarter of 2024 via its website. This disclosure is made pursuant to Regulation FD and does not constitute a full set of GAAP-compliant financial statements.
🚩 Red Flags
- Information is 'not filed' under Section 18 of the Exchange Act, limiting liability for the supplemental data provided.
📋 Key Facts
- Filing date: May 9, 2024
- Content: Supplemental Q1 2024 financial and operations information
- Method of disclosure: Information made available on the company's website (www.ghiinvestors.com)
- Nature of data: Selected financial info derived from GAAP statements but not a complete set of GAAP-compliant notes/statements
Greystone Housing Impact Investors LP filed an 8-K to announce its financial results for the first quarter ended March 31, 2024. The filing serves as a formal announcement of the earnings press release issued on May 8, 2024.
📋 Key Facts
- Report date: May 8, 2024
- Reporting period: First quarter ended March 31, 2024
- The filing includes a press release regarding financial results as Exhibit 99.1
- Signed by Jesse A. Coury, Chief Financial Officer
Greystone Housing Impact Investors LP has announced a registered offering of up to $25,000,000 in beneficial unit certificates (BUCs) representing limited partnership interests. The proceeds are intended for the acquisition of mortgage revenue bonds that qualify as community development investments under the Community Reinvestment Act (CRA).
🚩 Red Flags
- The offering is being conducted without a placement agent or underwriter, which may imply higher execution risk for the issuer.
📋 Key Facts
- Offering size: Up to $25,000,000 in beneficial unit certificates (BUCs).
- Target investors: Regulated financial institutions seeking CRA investment credits.
- Use of proceeds: Acquisition of mortgage revenue bonds issued by state/local housing authorities for affordable housing and community development.
- Pricing: BUCs will be sold at a 2% discount to the closing sale price on the NYSE from the preceding trading day.
- Distribution: Offered directly without placement agents, underwriters, brokers, or dealers.
- Registration: Conducted via an effective shelf Registration Statement on Form S-3 (File No. 333-268538).
Greystone Housing Impact Investors LP filed an 8-K to announce its upcoming conference call to discuss First Quarter 2024 financial results. The call is scheduled for May 8, 2024.
📋 Key Facts
- Conference call to discuss Q1 2024 results is scheduled for Wednesday, May 8, 2024, at 4:30 p.m. ET.
- The filing serves as a formal notice of the upcoming earnings discussion.
- Press release containing details was furnished as Exhibit 99.1.
Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.37 per BUC and a supplemental distribution in the form of additional BUCs valued at $0.07 per BUC. The distributions are scheduled to be paid on April 30, 2024.
📋 Key Facts
- Regular quarterly cash distribution: $0.37 per Beneficial Unit Certificate (BUC).
- Supplemental BUCs Distribution: $0.07 per BUC, payable in additional BUCs at a ratio of 0.00417 BUCs for each BUC outstanding.
- Record Date: March 28, 2024 (close of trading).
- Ex-distribution Date: March 27, 2024.
- Payment Date: April 30, 2024.
- The supplemental distribution is based on the NYSE closing price of $16.79 per BUC on March 12, 2024.
Greystone Housing Impact Investors LP entered into an Amended and Restated 'Capital on Demand' Sales Agreement with JonesTrading Institutional Services LLC and BTIG, LLC. This agreement allows the partnership to conduct 'at the market' offerings of its Beneficial Unit Certificates (BUCs) for up to $50 million.
🚩 Red Flags
- Potential for immediate dilution of existing unit holders through the ATM offering mechanism.
📋 Key Facts
- Entered into an Amended and Restated Capital on Demand Sales Agreement on March 8, 2024.
- Agents: JonesTrading Institutional Services LLC and BTIG, LLC.
- Aggregate offering amount: Up to $50,000,000.
- Securities being offered: Beneficial Unit Certificates (BUCs) representing limited partnership interests.
- Commission rate: 2.0% of aggregate gross sales price.
- The offering is an 'at the market' (ATM) program pursuant to Rule 415.
- Registration is based on a previously effective Form S-3 shelf registration statement (File No. 333-268538).
Greystone Housing Impact Investors LP entered into a Fifth Amendment to its Credit Agreement on March 4, 2024. The amendment adds NexBank as a lender with a $10 million commitment, increasing the total maximum credit facility to $50 million.
🚩 Red Flags
- Frequent amendments: This is the fifth amendment since June 2021, indicating ongoing restructuring or adjustments to debt terms.
- Forward-looking statement risks mention fluctuations in collateral valuations and bond investment valuations.
📋 Key Facts
- Entered into Fifth Amendment to Credit Agreement on March 4, 2024.
- Added NexBank's commitment of up to $10.0 million to the existing credit facility.
- Total maximum commitment across all lenders is now increased to $50.0 million.
- Executed a Promissory Note with NexBank for an original principal amount of up to $10,000,000.
- Paid a $25,000 commitment fee to NexBank and a $15,000 arrangement fee to the Administrative Agent at closing.
Greystone Housing Impact Investors LP has filed an 8-K to provide supplemental financial and operational information for the fourth quarter of 2023. This disclosure is intended to satisfy Regulation FD requirements via the company's website.
📋 Key Facts
- The filing provides supplemental financial and operations information for Q4 2023.
- Information is being made available on the company's website: www.ghiinvestors.com.
- The data provided does not represent a complete set of GAAP financial statements or related notes.
- The disclosure is furnished under Item 7.01 and is not considered 'filed' for purposes of Section 18 of the Exchange Act.
The Partnership issued a press release announcing the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Additionally, it notified investors that 2023 Schedule K-1 forms are now available.
📋 Key Facts
- Annual Report (Form 10-K) for FY ended Dec 31, 2023 was filed on February 22, 2024.
- Investor Tax Year 2023 Schedule K-1 forms are available electronically.
- Paper copies of K-1s will be mailed to addresses on file.
Greystone Housing Impact Investors LP filed an 8-K to announce its financial results for the fourth quarter and full year ended December 31, 2023. The filing serves as a formal announcement of the earnings release issued on February 22, 2024.
📋 Key Facts
- Report date: February 22, 2024
- Reporting period: Fourth quarter and year ended December 31, 2023
- The filing incorporates a press release as Exhibit 99.1
- Information under Item 2.02 is furnished but not 'filed' for purposes of Section 18 or liability under Sections 11/12(a)(2)
The company announced it will host a conference call on February 22, 2024, to discuss its Fourth Quarter 2023 financial results. This is a routine earnings announcement filing.
📋 Key Facts
- Conference call scheduled for Thursday, February 22, 2024, at 4:30 p.m. Eastern Time.
- Purpose of the call is to discuss Fourth Quarter 2023 results.
- Press release issued on February 7, 2024, as Exhibit 99.1.
Greystone Housing Impact Investors LP issued 500,000 Series B Preferred Units to Texas Capital Community Development Corporation for $5 million. The proceeds are earmarked for the acquisition of mortgage revenue bonds and other allowable investments.
🚩 Red Flags
- Related-party transaction potential: The investor is an affiliate of Texas Capital Bank, which may indicate a strategic or non-arm's length relationship depending on the terms of the subscription agreement.
📋 Key Facts
- Issued 500,000 Series B Preferred Units on February 2, 2024.
- Total aggregate proceeds: $5,000,000.
- Investor is Texas Capital Community Development Corporation (an affiliate of Texas Capital Bank).
- Use of proceeds: Acquisition of mortgage revenue bonds issued by state and local housing authorities for affordable multifamily, student, senior, and commercial properties.
Greystone Housing Impact Investors LP completed an exchange of preferred units with Mechanics Bank, converting 1,750,000 Series A Preferred Units into 1,750,000 Series B Preferred Units. The transaction was a non-cash exchange that resulted in no net proceeds to the Partnership.
🚩 Red Flags
- Non-cash exchange of preferred units may indicate a restructuring of debt or equity obligations to a major stakeholder.
📋 Key Facts
- Transaction Date: January 19, 2024
- Investor: Mechanics Bank
- Securities Exchanged: 1,750,000 Series A Preferred Units for 1,750,000 Series B Preferred Units
- Net Proceeds: $0 (no cash consideration paid by the Partnership)
- The transaction was executed under an existing shelf registration statement on Form S-4 (Reg. No. 333-275170).