GHI Greystone Housing Impact Investors LP

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 4, 2024

 

 

Greystone Housing Impact Investors LP

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-41564	47-0810385
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
14301 FNB Parkway, Suite 211
Omaha, Nebraska				68154
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 402 952-1235

 

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))

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Beneficial Unit Certificates representing assignments of limited partnership interests in Greystone Housing Impact Investors LP		GHI		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

---

Item 7.01. Regulation FD Disclosure.

On March 4, 2024, Greystone Housing Impact Investors LP (the “Partnership”) is providing the information which is included in this Current Report on Form 8-K (including Exhibit 99.1 hereto) with respect to supplemental financial information for the Partnership on the Partnership’s website, www.ghiinvestors.com. This information includes selected financial and operations information from the fourth quarter of 2023 and does not represent a complete set of financial statements and related notes prepared in conformity with generally accepted accounting principles (“GAAP”). Most, but not all, of the selected financial information furnished herein is derived from the Partnership’s consolidated financial statements and related notes prepared in accordance with GAAP and management’s discussion and analysis of financial condition and results of operations included in the Partnership’s reports on Forms 10-K and 10-Q.

The information included in this Current Report on Form 8-K (including Exhibit 99.1 hereto) that is furnished pursuant to this Item 7.01 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filing of the Partnership, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference into such filing.

Item 9.01 Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

 

Exhibit Number		Description
99.1		Supplemental information furnished March 4, 2024.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

---

SIGNATURES

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

			Greystone Housing Impact Investors LP
Date:	March 4, 2024	By:	/s/ Jesse A. Coury
			Printed: Jesse A. Coury Title: Chief Financial Officer

 

---

 

 

 

Supplemental Financial Report for the

Quarter Ended December 31, 2023

 

 

 

 

 

 

---

Partnership Financial Information

TABLE OF CONTENTS

Letter from the CEO	3
Quarterly Fact Sheet	5
Financial Performance Information	6
Appendices	18
Important Disclosure Notices	22
Other Partnership Information	24

 

---

Letter from the CEO

I am pleased to report Greystone Housing Impact Investors LP’s operating results for the fourth quarter of 2023. We reported the following financial results as of and for the three months ended December 31, 2023:

We reported the following notable transactions during the fourth quarter of 2023:

We continue to strategically invest in the affordable multifamily MRB and GIL asset classes where we believe we can earn attractive leveraged returns. We also continue to see consistent operating results from the properties underlying our affordable multifamily MRBs and GILs, with all such investments being current on contractual principal and interest payments as of December 31, 2023.

 

---

Other highlights of our investment portfolio include the following:

In addition, we issued 2,250,000 Series B Preferred Units to date in 2024. We issued 1,750,000 Series B Preferred Units, with a stated value of $17.5 million, to a financial institution in exchange for 1,750,000 previously outstanding Series A Preferred Units. We also issued 500,000 Series B Preferred Units to a new institutional investor for gross proceeds of $5.0 million. The Series B Preferred Units are non-cumulative, non-convertible, and non-voting units of limited partnership interests in the Partnership with an annual distribution rate of 5.75%, which is an attractive cost of capital for the Partnership. The earliest potential redemption date for the newly issued Series B Preferred Units is early 2030, with certain exceptions.

We have noticed traditional bank lenders are offering less credit or imposing more restrictive terms on borrowers, creating new opportunities for us to pursue beyond our traditional pipeline. We will continue to strategically work with strong sponsors on new investment opportunities where traditional sources of capital may not currently be available. We will also continue to seek to develop new relationships, particularly with those sponsors that are existing clients of Greystone and its affiliates.

Thank you for your continued support of Greystone Housing Impact Investors LP!

 

Kenneth C. Rogozinski

Chief Executive Officer

 

---

Fourth Quarter 2023 Fact Sheet

PARTNERSHIP DETAILS						Greystone Housing Impact Investors LP was formed for the primary purpose of acquiring a portfolio of MRBs that are issued to provide construction and/or permanent financing of affordable multifamily residential and commercial properties. We also invest in GILs, which are similar to MRBs, to provide construction financing for affordable multifamily properties. We expect and believe the interest paid on the MRBs and GILs to be excludable from gross income for federal income tax purposes. In addition, we have invested in equity interests in multifamily, market rate properties throughout the U.S. We may own interests in multifamily properties (“MF Properties”) until the “highest and best use” can be determined. We continue to pursue a business strategy of acquiring additional MRBs and GILs on a leveraged basis, and other investments.
(As of December 31, 2023)
Symbol (NYSE)			GHI
Most Recent Quarterly Distribution per BUC (1)		$	0.44
BUC Price		$	16.79
Year to Date Annualized Yield (2)			10.1%
BUCs Outstanding			22,897,187
Market Capitalization		$	$384,443,770
52-week BUC price range		$14.56 to $19.28
Partnership Financial Information for Q4 2023 ($’s in 000’s, except per BUC amounts)
	12/31/2023			12/31/2022
Total Assets	$1,513,401			$1,567,130
Leverage Ratio (3)	72%			73%
	Q4 2023			YTD 2023
Total Revenue	$25,185			$104,901
Net Income	$6,204			$54,012
Cash Available for Distribution (“CAD”) (4)	$6,184			$44,137
Cash Distributions declared, per BUC (1)	$0.368			$1.466
BUCs Distributions declared, per BUC (1)	$0.070			$0.208

 

 

---

Operating Results Summary

(Dollar amounts in thousands, except per BUC information)

 

		Q4 2022				Q1 2023				Q2 2023				Q3 2023				Q4 2023
Total revenues		$	22,030			$	24,938			$	28,303			$	26,474			$	25,185
Total expenses			(19,001	)			(23,506	)			(14,343	)			(16,771	)			(29,327	)
Gain on sale of real estate assets			-				-				-				-				10,363
Gain on sale of investments in unconsolidated entities			141				15,367				7,326				32				-
Earnings (losses) from investments in unconsolidated entities			-				-				-				-				(18	)
Income tax (expense) benefit			5				(7	)			1				(6	)			1
Net income		$	3,175			$	16,792			$	21,287			$	9,729			$	6,204
Per BUC operating metrics(1):
Net income		$	0.09			$	0.60			$	0.85			$	0.39			$	0.24
Cash available for distribution		$	0.15			$	0.81			$	0.62			$	0.25			$	0.27
Per BUC distribution information(1):
Cash distributions declared		$	0.47			$	0.37			$	0.37			$	0.37			$	0.37
BUC distributions declared			0.20				-				0.07				0.07				0.07
Total distributions declared		$	0.67			$	0.37			$	0.44			$	0.44			$	0.44
Weighted average BUCs outstanding			22,501,386				22,538,928				22,639,852				22,734,412				22,852,500
BUCs outstanding, end of period			22,539,029				22,538,878				22,639,852				22,734,375				22,897,187

 

---

Asset Profile

(Dollar amounts in thousands)

 

 

 

 

 

---

Mortgage Investments to Total Assets Profile

(Dollar amounts in thousands)

 

Note: Mortgage Investments include the Partnership’s Mortgage Revenue Bonds, Governmental Issuer Loans, Taxable Mortgage Revenue

Bonds, Taxable Governmental Issuer Loans, and Property Loans that share a first mortgage lien with the Governmental Issuer Loans.

 

---

Debt and Equity Profile

(Dollar amounts in thousands)

 

 

 

 

---

Debt Financing

(Dollar amounts in thousands)

 

 

---

Debt Investments Activity

(Dollar amounts in thousands)

 

Quarterly Activity	Q4 2022			Q1 2023			Q2 2023			Q3 2023			Q4 2023
Investment Purchases	$	163,546		$	90,747		$	88,552		$	46,525		$	50,121
Sales and Redemptions		(7,779	)		(31,622	)		(65,511	)		(126,121	)		(57,293	)
Net Investment Activity		155,767			59,125			23,041			(79,596	)		(7,172	)
Net Debt (Proceeds) Repayment		(120,394	)		(35,595	)		(16,330	)		68,749			18,007
Net Capital Deployed	$	35,373		$	23,530		$	6,711		$	(10,847	)	$	10,835

 

---

JV Equity Investments Activity

(Dollar amounts in thousands)

 

Quarterly Activity	Q4 2022			Q1 2023			Q2 2023			Q3 2023			Q4 2023
JV Equity Contributions	$	10,912		$	5,698		$	3,744		$	10,194		$	16,104
Return of JV Equity Contributions		(95	)		(12,283	)		(9,024	)		-			-
Net JV Equity Activity	$	10,817		$	(6,585	)	$	(5,280	)	$	10,194		$	16,104

 

---

Net Book Value Waterfall

 

Note: Per unit data derived from weighted average BUCs outstanding during the period, except for the Net Book Values, which are based on

shares outstanding on the stated date. Numbers may not sum due to rounding.

 

---

Interest Rate Sensitivity Analysis

The interest rate sensitivity table below represents the change in interest income from investments, net of interest on debt and settlement payments for interest rate derivatives over the next twelve months, assuming an immediate parallel shift in the SOFR yield curve and the resulting implied forward rates are realized as a component of this shift in the curve and assuming management does not adjust its strategy in response. The amounts in the table below do not consider any potential non-cash derivative fair value adjustments in determining the net interest income impact.

Description		- 25 basis points				+ 50 basis points				+ 100 basis points				+ 150 basis points				+ 200 basis points
TOB Debt Financings		$	1,121,527			$	(2,243,054	)		$	(4,486,107	)		$	(6,729,161	)		$	(8,972,215	)
TEBS Debt Financings			67,673				(135,347	)			(270,693	)			(406,040	)			(541,386	)
Other Financings & Derivatives			(697,003	)			1,394,006				2,788,011				4,182,017				5,576,022
Variable Rate Investments			(383,427	)			766,854				1,533,708				2,300,562				3,067,416
Net Interest Income Impact		$	108,770			$	(217,541	)		$	(435,081	)		$	(652,622	)		$	(870,163	)
Per BUC Impact (1)		$	0.005			$	(0.010	)		$	(0.019	)		$	(0.029	)		$	(0.038	)

 

 

 

---

Total Revenue & Gain on Sale Trends

(Dollar amounts in thousands)

 

 

 

---

Operating Expense Trends

(Dollar amounts in thousands)

 

Since January 1, 2022, the sum of “Salaries and benefits” and “General and administrative” expenses as a percentage of Total Assets has

averaged approximately 0.28% per quarter.

 

---

Tax Income Information Related to Beneficial Unit Certificates

The following table summarizes tax-exempt and taxable income as percentages of total income allocated to the Partnership’s BUCs on Schedule K-1 for tax years 2021 to 2023. This disclosure relates only to income allocated to the Partnership’s BUCs and does not consider an individual unitholder’s basis in the BUCs or potential return of capital as such matters are dependent on the individual unitholders’ specific tax circumstances. The disclosure also assumes that the individual unitholder can utilize all allocated losses and deductions, even though such items may be limited depending on the unitholder’s specific tax circumstances. Such amounts are for all BUC holders in the aggregate during the year. Income is allocated to individual investors monthly and amounts allocated to individual investors may differ from these percentages due to, including, but not limited to, BUC purchases and sales activity and the timing of significant transactions during the year.

	2023				2022				2021
Tax-exempt income		40	%			25	%			32	%
Taxable income		60	%			75	%			68	%
		100	%			100	%			100	%

 

Unrelated Business Taxable Income

In recent years, the Partnership has generated little to no Unrelated Business Taxable Income (“UBTI”) for BUC unitholders. For tax years 2021 to 2023, the Partnership generated a net loss from activities considered to be UBTI as reported on investor Schedule K-1s. The rules around UBTI are complex, so please consult your tax advisor.

 

---

 

 

 

Appendices

 

 

 

 

 

 

---

Operating Results Detail

(Dollar amounts in thousands, except per BUC information)

		Q4 2022				Q1 2023				Q2 2023				Q3 2023				Q4 2023
Revenues:
Investment income		$	16,550			$	19,303			$	22,416			$	20,537			$	20,010
Property revenues			2,070				1,226				1,108				1,199				1,035
Other interest income			3,410				4,409				4,646				4,621				4,079
Other income			-				-				133				117				61
Total revenues			22,030				24,938				28,303				26,474				25,185
Expenses:
Real estate operating (exclusive of items shown below)			1,174				602				615				874				573
Provision for credit losses			-				(545	)			(774	)			(562	)			(466	)
Depreciation and amortization			661				405				405				413				314
Interest expense			14,119				16,688				17,602				17,926				16,849
Net result from derivative transactions			(2,405	)			1,283				(8,614	)			(7,209	)			7,168
General and administrative			5,452				5,073				5,109				5,329				4,889
Total expenses			19,001				23,506				14,343				16,771				29,327
Other Income:
Gain on sale of real estate assets			-				-				-				-				10,363
Gain on sale of investments in unconsolidated entities			141				15,367				7,326				32				-
Earnings (losses) from investments in unconsolidated entities			-				-				-				-				(18	)
Income before income taxes			3,170				16,799				21,286				9,735				6,203
Income tax expense (benefit)			(5	)			7				(1	)			6				(1	)
Net income			3,175				16,792				21,287				9,729				6,204
Redeemable preferred unit distributions and accretion			(716	)			(747	)			(799	)			(700	)			(623	)
Net income available to partners		$	2,459			$	16,045			$	20,488			$	9,029			$	5,581
Net income available to partners allocated to:
General partner		$	360			$	2,479			$	1,010			$	25			$	75
Limited partners - BUCs			2,063				13,491				19,324				8,922				5,472
Limited partners - Restricted units			36				75				154				82				34
Net income available to partners		$	2,459			$	16,045			$	20,488			$	9,029			$	5,581

 

---

Cash Available for Distribution (1)

(Dollar amounts in thousands, except per BUC information)

 

		Q4 2022				Q1 2023				Q2 2023				Q3 2023				Q4 2023
Net income		$	3,175			$	16,792			$	21,287			$	9,729			$	6,204
Unrealized (gains) losses on derivatives, net			(660	)			3,436				(6,020	)			(4,237	)			9,994
Depreciation and amortization expense			661				405				405				413				314
Provision for credit losses			-				(545	)			(774	)			(562	)			(466	)
Reversal of gain on sale of real estate assets			-				-				-				-				(10,363	)
Amortization of deferred financing costs			611				1,006				392				353				710
Restricted unit compensation expense			612				350				587				603				473
Deferred income taxes			4				(1	)			(1	)			(1	)			3
Redeemable Preferred Unit distributions and accretion			(716	)			(747	)			(799	)			(700	)			(623	)
Tier 2 Income allocable to the General Partner			(337	)			(2,415	)			(878	)			65				(19	)
Recovery of prior credit loss			(17	)			(17	)			(17	)			(17	)			(17	)
Bond premium, discount and amortization, net of cash received			(51	)			(47	)			(47	)			(45	)			(43	)
(Earnings) losses from investments in unconsolidated entities			-				-				-				-				18
Total Cash Available for Distribution		$	3,282			$	18,217			$	14,135			$	5,601			$	6,185
Weighted average number of BUCs outstanding, basic			22,501,386				22,538,928				22,639,852				22,734,412				22,852,500
Net income per BUC, basic		$	0.09			$	0.60			$	0.85			$	0.39			$	0.24
Total CAD per BUC, basic		$	0.15			$	0.81			$	0.62			$	0.25			$	0.27
Cash Distributions declared, per BUC		$	0.47			$	0.37			$	0.37			$	0.37			$	0.37
BUCs Distributions declared, per BUC (2)		$	0.20			$	-			$	0.07			$	0.07			$	0.07
						Trailing five quarter totals:
						Net income per BUC, basic												$	2.18
						Total CAD per BUC, basic												$	2.10
						Cash Distributions declared, per BUC												$	1.94
						BUCs Distributions declared, per BUC												$	0.41

 

 

---

Balance Sheet Summary

(Dollar amounts in thousands, except per BUC information)

 

		12/31/2022				3/31/2023				6/30/2023				9/30/2023				12/31/2023
Assets:
Cash		$	51,188			$	52,105			$	59,246			$	58,918			$	37,918
Restricted cash			41,449				36,213				45,765				47,908				9,816
Interest receivable			11,628				14,615				10,315				8,712				8,266
Mortgage revenue bonds, at fair value			799,409				867,384				905,964				859,046				930,676
Governmental issuer loans, net			300,230				315,528				302,173				254,378				221,653
Property loans, net			175,110				162,781				142,903				115,432				120,508
Investments in unconsolidated entities			115,791				111,135				106,296				118,525				136,653
Real estate assets, net			36,550				35,673				35,563				35,272				4,716
Other assets			35,775				37,236				48,458				48,140				43,195
Total assets		$	1,567,130			$	1,632,670			$	1,656,683			$	1,546,331			$	1,513,401
Liabilities
Accounts payable, accrued expenses and other liabilities		$	21,734			$	23,408			$	22,468			$	23,622			$	22,958
Distribution payable			10,900				10,835				9,322				8,481				8,584
Secured lines of credit			55,500				6,500				12,500				16,500				33,400
Debt financing, net			1,058,903				1,143,735				1,154,030				1,081,410				1,015,030
Mortgages payable, net			1,690				1,690				1,690				26,513				1,690
Total liabilities			1,148,727				1,186,168				1,200,010				1,156,526				1,081,662
Redeemable preferred units			94,447				102,430				112,421				92,428				82,432
Partners' capital			323,956				344,072				344,252				297,377				349,307
Total liabilities and partners' capital		$	1,567,130			$	1,632,670			$	1,656,683			$	1,546,331			$	1,513,401
Net book value per BUC		$	14.31			$	15.12			$	15.06			$	12.97			$	15.17

 

---

Important Disclosure Notices

Forward-Looking Statements

All statements in this document other than statements of historical facts, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. When used, statements which are not historical in nature, including those containing words such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions, are intended to identify forward-looking statements. We have based forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. This document may also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other industry data. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the statistical and other industry data generated by independent parties contained in this supplement and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of our future performance and the future performance of the industries in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described under the headings “Item 1A Risk Factors” in our 2023 Annual Report on Form 10-K for the year ended December 31, 2023. These forward-looking statements are subject to various risks and uncertainties and Greystone Housing Impact Investors LP (the “Partnership”) expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Most, but not all, of the selected financial information furnished herein is derived from the Greystone Housing Impact Investors LP’s consolidated financial statements and related notes prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and management’s discussion and analysis of financial condition and results of operations included in the Partnership’s reports on Forms 10-K and 10-Q. The Partnership’s annual consolidated financial statements were subject to an independent audit, dated February 22, 2024.

Disclosure Regarding Non-GAAP Measures

This document refers to certain financial measures that are identified as non-GAAP. We believe these non-GAAP measures are helpful to investors because they are the key information used by management to analyze our operations. This supplemental information should not be considered in isolation or as a substitute for the related GAAP measures.

Please see the consolidated financial statements we filed with the Securities and Exchange Commission on Forms 10-K and 10-Q. Our GAAP consolidated financial statements can be located upon searching for the Partnership’s filings at www.sec.gov.

Other Information

On September 14, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $0.20 per BUC (the “Third Quarter 2022 BUCs Distribution”). The Third Quarter 2022 BUCs Distribution was paid at a ratio of 0.01044 BUCs for each issued and outstanding BUC as of the record date of September 30, 2022, which represents an amount per BUC based on the closing price of the BUCs on the Nasdaq Stock Market LLC on September 13, 2022. The Third Quarter 2022 BUCs Distribution was completed on October 31, 2022.

---

On December 19, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $0.20 per BUC (the “Fourth Quarter 2022 BUCs Distribution”). The Fourth Quarter 2022 BUCs Distribution was paid at a ratio of 0.0105 BUCs for each issued and outstanding BUC as of the record date of December 30, 2022, which represents an amount per BUC based on the closing price of the BUCs on the New York Stock Exchange ("NYSE") on December 16, 2022. The Fourth Quarter 2022 BUCs Distribution was completed on January 31, 2023.

On June 14, 2023, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $0.07 per BUC (the “Second Quarter 2023 BUCs Distribution”). The Second Quarter 2023 BUCs Distribution was paid at a ratio of 0.00448 BUCs for each issued and outstanding BUC as of the record date of June 30, 2023, which represents an amount per BUC based on the closing price of the BUCs on the NYSE on June 13, 2023. The Second Quarter 2023 BUCs Distribution was completed on July 31, 2023.

On September 13, 2023, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $0.07 per BUC (the “Third Quarter 2023 BUCs Distribution”). The Third Quarter 2023 BUCs Distribution was paid at a ratio of 0.00418 BUCs for each issued and outstanding BUC as of the record date of September 29, 2023, which represents an amount per BUC based on the closing price of the BUCs on the NYSE on September 12, 2023. The Third Quarter 2023 BUCs Distribution was completed on October 31, 2023.

On December 13, 2023, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $0.07 per BUC (the “Fourth Quarter 2023 BUCs Distribution”, collectively with the Third Quarter 2022 BUCs Distribution, the Fourth Quarter 2022 BUCs Distribution, the Second Quarter 2023 BUCs Distribution, and the Third Quarter 2023 BUCs Distribution, the “BUCs Distributions”). The Fourth Quarter 2023 BUCs Distribution was paid at a ratio of 0.00415 BUCs for each issued and outstanding BUC as of the record date of December 29, 2023, which represents an amount per BUC based on the closing price of the BUCs on the NYSE on December 12, 2023. The Fourth Quarter 2023 BUCs Distribution was completed on January 31, 2024.

There were no fractional BUCs issued in connection with the BUCs Distributions. All fractional BUCs resulting from the BUCs Distributions received cash for such fraction based on the market value of the BUCs on the record date.

Unless noted otherwise herein, the BUCs Distributions have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in this supplemental financial report.

 

---

Other Partnership Information

Corporate Office:			Transfer Agent:
14301 FNB Parkway			American Stock Transfer & Trust Company
Suite 211			59 Maiden Lane
Omaha, NE 68154			Plaza Level
Phone:	402-952-1235		New York, NY 10038
Investor & K-1 Services:	855-428-2951		Phone: 718-921-8124
Web Site:	www.ghiinvestors.com		888-991-9902
K-1 Services Email:	ghiK1s@greyco.com
Ticker Symbol (NYSE):	GHI

 

Corporate Counsel:		Independent Accountants:
Barnes & Thornburg LLP		PwC
11 S. Meridian Street		1 North Wacker Drive
Indianapolis, IN 46204		Chicago, Illinois 60606
Board of Managers of Greystone AF Manager LLC:
(acting as the directors of Greystone Housing Impact Investors LP)
Stephen Rosenberg	Chairman of the Board
Jeffrey M. Baevsky	Manager
Drew C. Fletcher	Manager
Steven C. Lilly	Manager
W. Kimball Griffith	Manager
Deborah A. Wilson	Manager
Robert K. Jacobsen	Manager
Corporate Officers:
Kenneth C. Rogozinski	Chief Executive Officer
Jesse A. Coury	Chief Financial Officer

 

 

---

v3.24.0.1

Document And Entity Information	Mar. 04, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Mar. 04, 2024
Entity Registrant Name	Greystone Housing Impact Investors LP
Entity Central Index Key	0001059142
Entity Emerging Growth Company	false
Securities Act File Number	001-41564
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0810385
Entity Address, Address Line One	14301 FNB Parkway, Suite 211
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68154
City Area Code	402
Local Phone Number	952-1235
Entity Information, Former Legal or Registered Name	Not Applicable
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Beneficial Unit Certificates representing assignments of limited partnership interests in Greystone Housing Impact Investors LP
Trading Symbol	GHI
Security Exchange Name	NYSE

---