Greystone Housing Impact Investors Reports First Quarter 2025 Financial Results

Core Insights - Greystone Housing Impact Investors LP reported financial results for the first quarter of 2025, highlighting a net income of $3.3 million and Cash Available for Distribution (CAD) of $7.1 million [2][6][19]. Financial Highlights - The Partnership's net income per Beneficial Unit Certificate (BUC) was $0.11, while CAD per BUC was $0.31 [6][19]. - Total assets reached $1.54 billion, with total Mortgage Revenue Bond (MRB) and Governmental Issuer Loan (GIL) investments amounting to $1.18 billion [6][19]. - Unrealized losses on interest rate derivatives were approximately $3.9 million, impacting net income but not cash earnings [2][6]. Distribution Information - A quarterly distribution of $0.37 per BUC was declared and paid on April 30, 2025, to BUC holders of record as of March 31, 2025 [3][19]. Management Commentary - The CEO emphasized ongoing evaluation of investment opportunities despite market volatility and highlighted the successful issuance of Series B Preferred Units as a source of low-cost capital [4][19]. Recent Investment and Financing Activity - The Partnership sold a property for gross proceeds of approximately $17.1 million, expecting to recognize investment income of about $1.8 million in the second quarter of 2025 [5][19]. - Advanced funds on MRB and GIL investments totaled $60.6 million, with redemptions and paydowns amounting to approximately $102.7 million [7][19]. Investment Portfolio Updates - All MRB and GIL investments are current on contractual principal and interest payments, with no requests for forbearance as of March 31, 2025 [13][19]. - Six joint venture equity investment properties completed construction, with three achieving 90% occupancy [13][19].