Conference Call Information - The company will host a conference call for investors on February 20, 2025, at 4:30 p.m. Eastern Time to discuss its Fourth Quarter 2024 results[7] - The press release announcing the conference call was issued on February 6, 2025[7] Stock Information - The company is registered under the symbol GHI on the New York Stock Exchange[5]

Financial Performance - The Partnership reported net income of $10.1 million for the three months ended December 31, 2024, compared to $6.2 million for the same period in 2023, resulting in net income per Beneficial Unit Certificate (BUC) of $0.39 [17][21] - For the year ended December 31, 2024, total revenues were $91.3 million, a decrease from $104.9 million in 2023, with investment income contributing $81.0 million [17][21] - Cash Available for Distribution (CAD) for the three months ended December 31, 2024, was $4.2 million, translating to $0.18 per BUC, down from $0.27 in the same period of 2023 [21] Investment and Financing Activities - The Partnership received proceeds of $14.2 million from the sale of Vantage at Tomball in January 2025, with no recognized gain or loss upon sale [5] - Advanced funds on Mortgage Revenue Bonds (MRB) and Governmental Issuer Loans (GIL) totaled $36.8 million and $32.0 million, respectively, during the fourth quarter of 2024 [8] - The Partnership entered into a securitization transaction totaling $75.4 million, representing fixed-rate, matched-term, non-recourse debt financing [8] Management Insights - The CEO noted that 2024 was challenging due to higher interest rates and operating expenses affecting joint venture equity investments, but expressed optimism for opportunities in 2025 [4] - The Partnership's dedicated capital pool from a new BlackRock construction lending joint venture is seen as a significant tool for supporting affordable housing developers [4] Portfolio and Asset Management - Total assets of the Partnership were reported at $1.58 billion, with total MRB and GIL investments amounting to $1.25 billion [6] - All MRB and GIL investments were current on contractual principal and interest payments as of December 31, 2024, with no requests for forbearance from borrowers [14] - Six joint venture equity investment properties completed construction, with three achieving 90% occupancy [14]

Core Viewpoint - Greystone Housing Impact Investors LP will host a conference call on February 20, 2025, to discuss its Fourth Quarter 2024 results [1] Group 1: Conference Call Details - The conference call is scheduled for 4:30 p.m. Eastern Time on February 20, 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 financing [4] - The Partnership aims to acquire additional mortgage revenue bonds and other investments on a leveraged basis, focusing on interest earned being excludable from federal income tax [4] - The investment strategy includes utilizing attractive financing structures and interest rate risk management instruments [4]

Core Insights - Greystone Housing Impact Investors LP announced the sale of Vantage at Tomball, a 288-unit multifamily property in Tomball, TX, for approximately $14.2 million, which includes the return of its contributed equity of $11.4 million and accrued preferred return [1][2] - The overall return on the Vantage at Tomball investment was lower than historical returns due to rising insurance costs in the Houston area and a higher interest rate environment since the last equity sale in June 2023 [2] 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 properties [4] - The company aims to grow its investment by acquiring additional mortgage revenue bonds and leveraging attractive financing structures available in the securities market [4]

Group 1 - The article discusses the review of investment opportunities that have been undervalued due to previous market downturns as the tax loss selling season concludes for 2024 [1] - It highlights the importance of identifying beaten-down stocks that may present potential for recovery and growth [1] Group 2 - High Dividend Opportunities (HDO) is noted as a prominent community for income investors and retirees, boasting over 8,000 members [2] - The HDO Income Method is designed to generate strong returns irrespective of market volatility, simplifying retirement investing [2] - HDO offers a Model Portfolio targeting a yield of 9-10% and is currently promoting a 17% discount along with a 14-day free trial on its annual subscription priced at $599.99 [2]

Group 1 - The general public tends to focus on only 1 or 2 major events at a time, which can lead to other significant events being overlooked [1] - High Dividend Opportunities is a community of over 8,000 income investors and retirees, emphasizing a straightforward income method that generates strong returns regardless of market volatility [1] Group 2 - The company is promoting a limited-time 17% discount on its annual subscription price of $599.99, targeting investors interested in a model portfolio with a yield of 9-10% [2]

Financial Data and Key Metrics Changes - The company reported a net loss of $4.6 million or $0.23 per unit for Q3 2024, with cash available for distribution (CAD) of $6.2 million or $0.27 per unit [3][6] - A non-cash unrealized loss of $9.7 million from interest rate derivatives was recognized, impacting net income significantly [6][7] - The book value per unit increased to $14.15, up $0.17 from the previous quarter, primarily due to an increase in the fair value of the mortgage revenue bond portfolio [7][8] - The leverage ratio was reported at 74% as of September 30, 2024 [4] Business Line Data and Key Metrics Changes - The investment portfolio consists of $1.32 billion in affordable multifamily investments and $169 million in joint venture equity investments [5][9] - Physical occupancy for the stabilized mortgage revenue bond portfolio was 91.5% as of September 30, 2024 [5] - The company advanced $40.5 million for mortgage revenue bond investments and $17.5 million for governmental issuer loans during the quarter [10][11] Market Data and Key Metrics Changes - The 10-year MMD increased to 2.97% and the 30-year MMD to 3.83% as of November 2024, reflecting a rise in yields [13][14] - The municipal bond market saw record new issuance of $56 billion in October, contributing to a total of $431 billion year-to-date [13] Company Strategy and Development Direction - The company is focusing on a new construction lending joint venture with BlackRock to fill the gap left by commercial banks in affordable construction lending [14] - The strategy includes deploying capital into emerging build-to-rent joint venture equity strategies for market-rate multifamily development properties [14] Management's Comments on Operating Environment and Future Outlook - Management noted that interest rates have not significantly impacted demand for core lending products, with ongoing inquiries from sponsors [19] - The company remains optimistic about deploying new capital from the BlackRock joint venture despite market volatility [19][21] Other Important Information - The company terminated its variable rate M31 TEBS financing and closed a new fixed-rate securitization transaction, reducing exposure to interest rate fluctuations [9][12] - Unrestricted cash and cash equivalents were reported at $37.3 million, with an additional $55.6 million available on secured lines of credit [7] Q&A Session Summary Question: Potential issues with fiscal policy due to new administration - Management indicated it is too early to predict impacts but noted historical bipartisan support for the Low-Income Housing Tax Credit program [16] Question: Capital deployment timeline for the BlackRock partnership - Management explained that the capital will be deployed through fixed and floating rate construction loans, leveraging existing sponsor relationships [17] Question: Impact of recent rate volatility on loan demand - Management stated that demand for loans remains strong despite higher interest rates, with ongoing projects from sponsors [19] Question: Future investment portfolio trends - Management expects investment portfolios to trend higher, focusing on opportunities that meet their dividend yield criteria [23] Question: Share buybacks consideration - Management prefers to invest in new opportunities rather than buy back shares, as long as those investments are accretive [30][31] Question: Insider purchases of stock - Management noted that insider activity is currently restricted but may change post-10-Q filing [32]

Financial Performance - The company reported a significant increase in Cash Available for Distribution (CAD), reaching $X million, representing a Y% increase compared to the previous quarter[5]. - Total revenues decreased to $24,345,550 for the three months ended September 30, 2024, down from $26,474,136 in 2023, a decline of approximately 8.06%[16]. - Net income (loss) for the three months ended September 30, 2024, was $(4,635,707), compared to a net income of $9,729,378 in 2023, indicating a significant decrease[16]. - The net income (loss) available to partners for the three months ended September 30, 2024, was $(5,377,183), compared to $9,029,222 in 2023, reflecting a substantial decline[16]. - Comprehensive income (loss) for the three months ended September 30, 2024, was $12,942,251, compared to a loss of $(38,295,371) in 2023, showing a positive shift in performance[18]. - The net income (loss) for the nine months ended September 30, 2024, was $(7,192,418), compared to a net income of $53,132,243 for the same period in 2023[113]. Assets and Liabilities - The total assets of the company as of the reporting date were $X billion, reflecting a Z% growth year-over-year[5]. - Total assets increased to $1,549,249,185 as of September 30, 2024, up from $1,513,400,702 at December 31, 2023, representing a growth of approximately 2.37%[15]. - Total liabilities rose to $1,141,926,732 as of September 30, 2024, compared to $1,081,662,446 at December 31, 2023, marking an increase of approximately 5.58%[15]. - Total liabilities rose to $1,075,272,545 as of September 30, 2024, up from $1,028,660,379 as of December 31, 2023, indicating an increase of about 4.5%[56]. Investment and Financing Activities - Investment income for the three months ended September 30, 2024, was $21,820,973, compared to $20,537,399 for the same period in 2023, reflecting an increase of 6.25%[16]. - The partnership made advances on mortgage revenue bonds totaling $(141,175,652), compared to $(119,452,688) in the previous year, indicating an increase of about 18.2%[25]. - Proceeds from debt financing amounted to $186,595,000, down from $236,292,000 in the prior year, a decrease of about 21.0%[25]. - The Partnership's total cash and cash equivalents decreased from $58,917,793 to $37,374,268, a decline of approximately 36.6%[26]. - The Partnership's total debt financing, net, as of September 30, 2024, is approximately $1.06 billion[174]. Credit Losses and Risk Management - The allowance for credit losses for governmental issuer loans decreased from $(1,294,000) to $(1,063,000), a reduction of about 17.83%[15]. - The Partnership's allowance for credit losses at the end of September 30, 2024, totaled $3.254 million, down from $4.097 million at the beginning of the period[125]. - The current provision for credit losses for the three months ended September 30, 2024, was a recovery of $226,000, compared to a recovery of $562,000 for the same period in 2023[129]. - The decrease in the allowance for credit losses is attributed to GIL and property loan redemptions and updates of market data used in the estimation model[130]. Market and Economic Conditions - The company has noted the impact of elevated inflation levels on interest rates and market volatility, which may affect future performance[11]. - The Partnership's operating expenses may be adversely impacted by the recent inflationary environment, potentially reducing net operating results[39]. - The Federal Reserve reduced the federal funds rate by 50 basis points on September 18, 2024, in response to declining year-over-year inflation rates[38]. Strategic Initiatives - The company is actively pursuing a Construction Lending Joint Venture with BlackRock Impact Opportunities to finance affordable multifamily housing properties across the United States[5]. - The company anticipates a continued focus on market expansion, particularly in regions with high demand for affordable housing[10]. - The company has outlined a forward-looking strategy that includes potential acquisitions to enhance its portfolio and market presence[10]. - The company plans to continue its focus on diversity, equity, and inclusion initiatives as part of its corporate strategy[6]. Debt and Financing Agreements - The Partnership is required to maintain a minimum liquidity of not less than $6.3 million and a minimum consolidated tangible net worth of $200.0 million under the Secured Credit Agreement[146]. - The variable rate for the General LOC is equal to SOFR + 3.50%, subject to an all-in floor of 3.75%[142]. - The Partnership was in compliance with all covenants related to its financing agreements as of September 30, 2024[163]. Derivative Instruments - For the three months ended September 30, 2024, the net result from derivative transactions was $7,897,016, compared to a net loss of $(7,209,385) for the same period in 2023[177]. - The Partnership's interest rate swaps had a notional amount of $392,782,208 with a fair value asset of $2,704,180 and a liability of $(3,166,639) as of September 30, 2024[179]. - The total unrealized gains on derivatives for the nine months ended September 30, 2024, were $4,880,661, compared to $(6,820,894) for the same period in 2023[177]. Preferred Units and Equity Commitments - The Partnership redeemed $10.0 million of Series A Preferred Units in April 2024[190]. - As of September 30, 2024, there are 7,750,000 redeemable preferred units outstanding, totaling $77,500,000[192]. - The Series A-1 Preferred Units have a total purchase price of $55,000,000 with a distribution rate of 3.00%[191].

Conference Call Information - The company will host a conference call for investors on November 6, 2024, at 4:30 p.m. Eastern Time to discuss its Third Quarter 2024 results[2] - The press release announcing the conference call was issued on October 23, 2024[2] Company Registration and Classification - The company is registered under the Securities Exchange Act of 1934 and is not classified as an emerging growth company[2] Company Information - The address of the principal executive offices is 14301 FNB Parkway, Suite 211, Omaha, Nebraska 68154[1] - The trading symbol for the company is GHI, listed on the New York Stock Exchange[1] - The company has not indicated any changes to its former name or address since the last report[1] Financial Reporting - No financial statements or exhibits were applicable in this report[2] - The report was signed by Jesse A. Coury, Chief Financial Officer, on October 23, 2024[3] - The report includes an embedded interactive data file within the Inline XBRL document[2] - The company has not elected to use the extended transition period for complying with new financial accounting standards[2]

Core Insights - Greystone Housing Impact Investors LP reported a net loss of $0.23 per Beneficial Unit Certificate (BUC) for the three months ended September 30, 2024, and a net income of $0.38 per BUC for the nine months ended September 30, 2024, with Cash Available for Distribution (CAD) of $0.27 and $0.77 per BUC respectively [2][3] Financial Highlights - For the three months ended September 30, 2024: - Net loss of $0.23 per BUC, basic and diluted - CAD of $0.27 per BUC - Total assets of $1.55 billion - Total Mortgage Revenue Bond (MRB) and Governmental Issuer Loan (GIL) investments of $1.24 billion - Unrealized losses of approximately $9.7 million due to declining market interest rates [2] - For the nine months ended September 30, 2024: - Net income of $0.38 per BUC, basic and diluted - CAD of $0.77 per BUC - Unrealized losses of approximately $4.9 million [3] Distribution Information - The Partnership declared a regular quarterly distribution of $0.37 per BUC, paid on October 31, 2024, to BUC holders of record as of September 30, 2024 [4] Management Remarks - The CEO noted steady performance from the investment portfolio during the third quarter, highlighting ongoing volatility in fixed income and multifamily capital markets, which presents both challenges and opportunities [5] Recent Investment and Financing Activity - Advanced funds on MRB and taxable MRB investments totaling $40.5 million - Advanced funds on GIL, taxable GIL, and property loan investments totaling $17.5 million - Advanced funds to joint venture equity investments totaling $10.4 million - Received redemption proceeds totaling $55.8 million, with $36.9 million used to pay down related debt financing [5] Investment Portfolio Updates - All MRB and GIL investments are current on contractual principal and interest payments, with no requests for forbearance as of September 30, 2024 - The Partnership executed its hedging strategy through interest rate swaps, receiving net payments of approximately $1.8 million and $5.2 million during the three and nine months ended September 30, 2024, respectively - Six joint venture equity investment properties completed construction, with four achieving 90% occupancy as of September 30, 2024 [6]