Distributions - The company completed a distribution of additional BUCs on October 31, 2023, at a ratio of 0.00418 BUCs for each BUC outstanding as of September 29, 2023[12] - The company reported a distribution completed on July 31, 2023, at a ratio of 0.00448 BUCs for each BUC outstanding as of June 30, 2023[12] - The company reported a distribution completed on January 31, 2024, at a ratio of 0.00415 BUCs for each BUC outstanding as of December 29, 2023[12] - The company has completed distributions of additional Beneficial Unit Certificates (BUCs) at ratios of 0.00448 and 0.00418 for the periods ending June 30, 2023, and September 29, 2023, respectively[12] Joint Ventures and Investments - The company has established a joint venture with BlackRock Impact Opportunities to invest in loans for the construction and rehabilitation of affordable multifamily housing properties across the U.S.[22] - The company is involved in a joint venture with BlackRock to finance the construction and rehabilitation of affordable multifamily housing properties across the U.S.[22] - The company is focused on investing in multifamily, student, and senior citizen residential properties, which are subject to market fluctuations[41] Financing and Leverage - The company has a maximum leverage ratio of 80% as established by its Board of Managers[27] - The company has a secured credit agreement executed in connection with its General LOC[32] - The company’s Shelf Registration Statement allows for the issuance of up to $300.0 million of BUCs, Preferred Units, or debt securities[32] - The company is actively managing its financing arrangements and is focused on renewing or refinancing these arrangements[41] - The company faces challenges in accessing debt and equity capital for financing assets[41] Risks and Economic Conditions - The company faces various risks including defaults on mortgage loans, competitive environment, and economic conditions influenced by interest rates and inflation[41] - Future performance may be impacted by geopolitical events such as the Russia-Ukraine war and the Israel-Hamas conflict[41] - The company is subject to changes in the U.S. corporate tax code and other government regulations that may affect its operations[41] - The company is monitoring the impact of elevated inflation levels on its financial conditions and market volatility[41] - Elevated inflation levels over the past years may lead to continued high interest rates and increased market volatility[41] - The company is subject to uncertainties in domestic and international macroeconomic environments, including monetary and fiscal policy impacts[41] - Geographic concentration of properties related to investments poses additional risks[41] Forward-Looking Statements - The report contains forward-looking statements regarding future operations and financial position, which are based on current expectations and projections[40] - The report emphasizes the importance of not giving undue weight to estimates and statistical data provided by independent parties[40] - The company does not guarantee the accuracy or completeness of the statistical and industry data included in the report[40] - Future performance projections are subject to a high degree of uncertainty and risk due to various factors[41]
Greystone Housing Impact Investors LP(GHI) - 2024 Q4 - Annual Report