Greystone Housing Impact Investors LP
NYSE:GHI
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Greystone Housing Impact Investors LP
NYSE:GHI
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Torunlar Gayrimenkul Yatirim Ortakligi AS
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Greystone Housing Impact Investors LP
Greystone Housing Impact Investors LP engages in the acquisition of a portfolio of mortgage revenue bonds that are issued by state and local housing authorities to provide construction and permanent financing for affordable multifamily and student housing and commercial properties. The company is headquartered in Omaha, Nebraska. Its segments are Affordable Multifamily Mortgage Revenue Bond (MRB) Investments, MF Properties, Seniors and Skilled Nursing MRB Investments, and Market-Rate Joint Venture Investments. The firm's Affordable Multifamily MRB Investments segment consists of its portfolio of mortgage revenue bonds, which have been issued to provide construction and/or permanent financing for the multifamily, seniors and student housing properties. The MF Properties segment consists of indirect equity interests in multifamily, student housing, and senior citizen residential properties, which are not financed by mortgage revenue bonds held by the Company, but which it intends to finance by such bonds through a restructuring.
Greystone Housing Impact Investors LP engages in the acquisition of a portfolio of mortgage revenue bonds that are issued by state and local housing authorities to provide construction and permanent financing for affordable multifamily and student housing and commercial properties. The company is headquartered in Omaha, Nebraska. Its segments are Affordable Multifamily Mortgage Revenue Bond (MRB) Investments, MF Properties, Seniors and Skilled Nursing MRB Investments, and Market-Rate Joint Venture Investments. The firm's Affordable Multifamily MRB Investments segment consists of its portfolio of mortgage revenue bonds, which have been issued to provide construction and/or permanent financing for the multifamily, seniors and student housing properties. The MF Properties segment consists of indirect equity interests in multifamily, student housing, and senior citizen residential properties, which are not financed by mortgage revenue bonds held by the Company, but which it intends to finance by such bonds through a restructuring.
Strategy shift: Management is exiting remaining market-rate multifamily JV equity investments and redeploying proceeds into tax-exempt mortgage revenue bonds to create more stable, tax-advantaged, recurring earnings.
Q4 results: GAAP net loss of $2.6 million (−$0.17/unit); CAD (non-GAAP) positive $2.8 million ($0.12/unit).
JV equity losses: Proportionate share of JV operating losses of ~$7.4 million ($0.32/unit) drove much of the GAAP loss; management says these are largely noncash or development-phase operating losses expected to reverse on sale.
Distribution maintained: Quarterly distribution set at $0.14 per unit, which the Board and management view as sustainable during the portfolio transition.
Liquidity position: $39.5 million cash, $49.2 million available on secured lines, and significant investments maturing in H1 2026 to provide further liquidity.
South Carolina assets: Four mortgage revenue bond properties in South Carolina were taken via deed in lieu in Jan–Feb 2026; partnership now owns the underlying properties and will report them in MF Properties.
Book vs market disconnect: Book value per unit (~$11.70) is roughly double the trading price (~$5.87), and management reiterated that joint-venture investments are carried at carrying value after quarterly impairment assessment.
