Greystone Housing Impact Investors LP Increases Line of Credit to $50 Million
March 06 2024 - 4:15PM
Greystone Housing Impact Investors LP (NYSE: GHI) (the
“Partnership”) announced today that on March 4, 2024, it closed on
a $10 million increase in the maximum available commitment of its
secured revolving Line of Credit facility (“LOC”) to up to $50
million. The additional $10 million commitment was provided by a
new lender to the Partnership. BankUnited N.A. serves as sole
arranger and administrative agent. The LOC is secured by the
Partnership’s joint venture equity investments. An affiliate of the
Partnership’s general partner provides a deficiency guaranty for
the facility.
“The increase in LOC commitment provided by a new lender further
enhances our available liquidity and demonstrates the Partnership’s
ability to obtain additional credit from lenders,” said Kenneth C.
Rogozinski, Chief Executive Officer of the Partnership.
About Greystone Housing Impact Investors LP
Greystone Housing Impact Investors LP was formed
in 1998 under the Delaware Revised Uniform Limited Partnership Act
for the primary purpose of acquiring, holding, selling and
otherwise dealing with a portfolio of mortgage revenue bonds which
have been issued to provide construction and/or permanent financing
for affordable multifamily, seniors and student housing properties.
The Partnership is pursuing a business strategy of acquiring
additional mortgage revenue bonds and other investments on a
leveraged basis. The Partnership expects and believes the interest
earned on these mortgage revenue bonds is excludable from gross
income for federal income tax purposes. The Partnership seeks to
achieve its investment growth strategy by investing in additional
mortgage revenue bonds and other investments as permitted by its
Second Amended and Restated Limited Partnership Agreement, dated
December 5, 2022, taking advantage of attractive financing
structures available in the securities market, and entering into
interest rate risk management instruments. Greystone Housing Impact
Investors LP press releases are available at
www.ghiinvestors.com.
Safe Harbor Statement
Information contained in this press release contains
“forward-looking statements,” which are based on current
expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially. These risks and uncertainties include, but are
not limited to, risks involving current maturities of our financing
arrangements and our ability to renew or refinance such maturities,
fluctuations in short-term interest rates, collateral valuations,
mortgage revenue bond investment valuations and overall economic
and credit market conditions. For a further list and description of
such risks, see the reports and other filings made by the
Partnership with the Securities and Exchange Commission, including
but not limited to, its Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are
urged to consider these factors carefully in evaluating the
forward-looking statements. The Partnership disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
MEDIA CONTACT:Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com
INVESTOR CONTACT:
Andy GrierSenior Vice
President402-952-1235
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