Financial Data and Key Metrics Changes - The company 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 [14] - Book value per unit increased to $12.36, up $0.53 from June 30, primarily due to an increase in unrealized gains on the mortgage revenue bond portfolio [15] - The closing unit price was $8.24, representing a 33% discount to the book value per unit as of September 30 [16] Business Line Data and Key Metrics Changes - Fiscal occupancy for the stabilized mortgage revenue bond portfolio was 87.8% as of September 30, down from 88.4% as of June 30, mainly due to higher vacancies in Texas [5][6] - The company has 11 current investments, with 7 completed and leasing, 2 nearly completed, and 2 in future development [6][8] - The joint venture equity investments portfolio had a carrying value of approximately $154 million as of September 30, with remaining funding commitments totaling $19.5 million [20] Market Data and Key Metrics Changes - The U.S. municipal bond market saw improvement, with 10-year MMD decreasing from 3.21% to 2.92% and 30-year MMD from 4.58% to 4.24% during Q3 2025 [25] - The trend of heavy municipal bond issuance continued, with high fund flows into the muni market [25] - The company noted that only 9% of its debt investments are secured by projects receiving Section 8 subsidies, which may be impacted by the federal government shutdown [26] Company Strategy and Development Direction - The company plans to reduce capital allocation to joint venture equity investments in market-rate multifamily properties and focus more on tax-exempt mortgage revenue bonds [10][11] - The strategy aims to provide more stable earnings and increase the proportion of tax-exempt income allocated to unit holders [12] - The company remains positive on the market-rate seniors' housing segment and will continue to evaluate investment opportunities in that area [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that higher interest rates and multifamily capitalization rates are negatively impacting asset values and returns on sales [9] - The company expects occupancy levels to recover as new supply deliveries decline and available units are absorbed [6] - Management is assessing the potential impact of the strategic shift on short-term and long-term earnings expectations and unit holder distributions [13] Other Important Information - The company reported no forbearance requests for mortgage revenue bonds and governmental issuer loans, with all borrowers current on payments as of September 30 [19] - The company issued Series B preferred units for gross proceeds of $5 million in October 2025 to support investment commitments and operations [16][24] Q&A Session Summary Question: Capital allocation targets for multifamily units - Management indicated that future capital allocation will depend on the timing of capital returns from existing joint venture equity exits and current opportunities, with no set percentage at this time [30] Question: Expected pace of asset sales and occupancy stabilization - Management noted that the timeline for sales may be extended due to slower leasing activity in Texas and the need to reach critical occupancy levels before listing properties for sale [32] Question: Strategic shift away from joint venture investments and expected earnings pickup - Management highlighted the benefits of reduced earnings volatility and increased tax-exempt income from new investments, but stated it is too early to provide specific guidance on earnings pickup [35] Question: Cap rates for senior housing investments - Management clarified that they did not purchase properties during low cap rate periods but invested in to-be-built properties, and they continue to evaluate opportunities based on risk-adjusted returns [41][42] Question: Provision for credit losses despite improving municipal bond market - Management explained that the provision for credit losses was related to specific underperforming properties, and the overall portfolio quality remained consistent [50][54]

Financing Activities - The company completed a securitization transaction to finance credit-enhanced custodial receipts related to 12 Mortgage Revenue Bonds (MRBs) through the Wisconsin Public Finance Authority[9]. - Twelve MRBs associated with the 2024 PFA Securitization Transaction were created, with senior custodial receipts sold to the Wisconsin Public Finance Authority to pay debt service on Affordable Housing Multifamily Certificates[10]. - The company has established a secured non-operating line of credit (Acquisition LOC) to finance the acquisition of financed assets with several financial institutions[11]. - The company has filed a new Form S-3 shelf registration statement with the SEC, allowing for the issuance of up to $200 million of Beneficial Unit Certificates (BUCs), Preferred Units, and debt securities[24]. - The Partnership's new Form S-3 shelf registration statement allows for the issuance of up to $200.0 million of BUCs, Preferred Units, and debt securities[24]. Financial Performance - The partnership's financial statements include condensed consolidated balance sheets, statements of operations, and statements of cash flows, providing a comprehensive overview of financial performance[7]. - The management's discussion and analysis section offers insights into the financial condition and results of operations, highlighting key performance metrics[8]. - The Partnership's financial performance is subject to risks including defaults on mortgage loans and changes in interest rates[29]. - The Partnership's ability to access debt and equity capital is crucial for financing its assets[29]. Joint Ventures and Investments - The company is actively involved in the construction lending joint venture with BlackRock Impact Opportunities to finance affordable multifamily housing properties across the United States[14]. - The Partnership is involved in a joint venture with BlackRock to finance the construction and rehabilitation of affordable multifamily housing properties across the U.S.[14]. - The Partnership's investment strategy focuses on multifamily, student, and senior citizen residential properties[29]. Risk Factors - The partnership's risk factors include potential defaults on mortgage loans, competitive environment challenges, and economic conditions affecting real estate markets[29]. - Forward-looking statements in the report indicate expectations regarding future operations and financial trends, subject to various risks and uncertainties[28]. - The Partnership's financial condition may be impacted by geopolitical events, including the Russia-Ukraine war[29]. - The Partnership has not independently verified statistical data generated by independent parties, which may affect the accuracy of market size and growth estimates[28]. - The Partnership's operations are influenced by local, regional, national, and international economic conditions[29]. Distributions - The Partnership completed a distribution of additional BUCs at a ratio of 0.00417 BUCs for each BUC outstanding as of March 28, 2024[15]. Leverage - The Partnership's maximum leverage ratio is set at 80% as established by the Board of Managers[19].

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): October 22, 2025 Greystone Housing Impact Investors LP (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) Delaware 001-41564 47-0810385 (Commission File Number) (IRS Employer Identification No.) 14301 FNB Parkway, Suite 211 Omaha, Nebraska 6815 ...

Financial Performance - The Partnership reported a net income of $2.0 million or $0.03 per Beneficial Unit Certificate (BUC) for the three months ended September 30, 2025, compared to a net loss of $4.6 million for the same period in 2024 [8][22] - Cash Available for Distribution (CAD) was $4.6 million or $0.20 per BUC for the third quarter of 2025, down from $6.2 million or $0.27 per BUC in the same quarter of 2024 [8][24] - Total revenues for the third quarter of 2025 were $21.7 million, a decrease from $24.3 million in the same quarter of 2024 [22] Investment Strategy - The Partnership plans to reduce capital allocation to joint venture equity investments in market rate multifamily properties due to challenging market conditions, including higher interest rates and capitalization rates [5][7] - The focus will shift towards tax-exempt mortgage revenue bonds (MRBs) associated with affordable multifamily properties and senior housing, which are expected to provide more predictable returns [6][9] Operational Updates - The Partnership's total assets amounted to $1.49 billion, with total MRB and Governmental Issuer Loan (GIL) investments of $1.13 billion as of September 30, 2025 [8] - The Vantage at Loveland property, a 288-unit multifamily property, was publicly listed for sale, with the Partnership having invested $21.1 million in net equity during its construction [3][8] Recent Financing Activity - In October 2025, the Partnership issued Series B Preferred Units to a new investor, raising gross proceeds of $5.0 million, intended for acquiring additional investments and supporting general operations [11]

Core Viewpoint - Greystone Housing Impact Investors LP will host a conference call on November 6, 2025, to discuss its Third Quarter 2025 results [1] Group 1: Conference Call Details - The conference call is scheduled for 4:30 p.m. Eastern Time on November 6, 2025 [1] - Participants can join the call toll-free at (877) 407-8813 or internationally at +1 (201) 689-8521, with no pin required [2] - A live webcast will be available on the Partnership's website, and it is recommended to join 15 minutes early [2] Group 2: Company Overview - Greystone Housing Impact Investors LP was established in 1998 to manage a portfolio of mortgage revenue bonds for affordable housing [4] - The Partnership aims to acquire additional mortgage revenue bonds and other investments on a leveraged basis [4] - It expects that interest earned on these bonds is excludable from gross income for federal tax purposes [4]

Core Points - Greystone Housing Impact Investors LP will host a conference call on November 6, 2025, at 4:30 p.m. Eastern Time to discuss its Third Quarter 2025 results [1] - The call will include a question-and-answer session, with participants able to join via toll-free number or international dial-in [2] - A recorded replay of the webcast will be available on the Partnership's Investor Relations website [3] Company Overview - Greystone Housing Impact Investors LP was established in 1998 to manage a portfolio of mortgage revenue bonds aimed at financing affordable multifamily, seniors, and student housing properties [4] - The Partnership's strategy includes acquiring additional mortgage revenue bonds and investments on a leveraged basis, with expectations that interest earned on these bonds is excludable from federal income tax [4] - The company aims to achieve investment growth by leveraging attractive financing structures and utilizing interest rate risk management instruments [4]

Core Insights - Greystone Housing Impact Investors LP executed a Subscription Agreement to issue 500,000 Series B Preferred Units, raising $5,000,000 in proceeds [1][2] - The Series B Preferred Units are non-cumulative, non-convertible, and non-voting, with a redemption option starting from October 2031 [2] - The CEO emphasized that this issuance provides non-dilutive, fixed-rate, and low-cost institutional capital to support the company's strategy [3] Company Overview - Greystone Housing Impact Investors LP was established in 1998 to manage a portfolio of mortgage revenue bonds aimed at financing affordable multifamily, senior, and student housing [3] - The company aims to grow its investments by acquiring additional mortgage revenue bonds and leveraging attractive financing structures available in the market [3]

Core Insights - Rida Morwa has over 35 years of experience in investment and commercial banking, focusing on high-yield investment strategies since 1991 [1] - The Investing Group High Dividend Opportunities aims for a targeted safe yield of over 9% through various high-yield investments [1] Features of the Service - The service includes a model portfolio with buy/sell alerts, preferred and baby bond portfolios for conservative investors, and active chat access to service leaders [2] - It emphasizes community and education, promoting the idea that investors should not invest alone [2]

Core Insights - The article discusses investment strategies focusing on Long/Short ideas in the North American market [1] Group 1 - The author, Bashar, has a background in finance and economics, with a Master's degree from Queen Mary University of London and a Bachelor's degree from Middlesex University [1] - Bashar has prior experience working at an Investment Fund in the United Kingdom, indicating a strong foundation in investment analysis [1]

Group 1 - The article emphasizes the importance of creating a portfolio that generates income without the need for selling assets to fund retirement, promoting a less stressful investment approach [1] - It highlights common mistakes made by investors, such as assuming all companies operate similarly and neglecting thorough analysis [2] - The service offers features like model portfolios with buy/sell alerts, preferred and baby bond portfolios for conservative investors, and regular market updates, focusing on community and education [2] Group 2 - The article mentions that recommendations are closely monitored, with buy and sell alerts provided exclusively to members, indicating a proactive management approach [4] - It clarifies that past performance does not guarantee future results, and no specific investment advice is being given, which reflects a cautious stance on investment recommendations [5]