Greystone Housing Impact Investors LP
Business
Greystone Housing Impact Investors LP is a Delaware limited partnership that acquires and holds a portfolio of mortgage revenue bonds (MRBs) and governmental issuer loans (GILs) issued by state and local housing authorities to finance affordable multifamily housing, seniors housing, and skilled nursing facilities. The Partnership also invests in property loans, makes joint venture equity investments in market-rate and seniors housing developments, and holds multifamily properties. It finances its assets through secured lines of credit, tax-exempt bond securitizations (TEBS), traded on bonds (TOBs), and issuances of preferred units and publicly traded units (BUCs) on the NYSE.
Summary from 10-K filed 2026-03-16
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Investment income | 71 | 81 | 82 | 61 | 58 | |
| Other interest income | 12 | 10 | 18 | 12 | 2 | |
| Property revenues | — | — | 5 | 8 | 7 | |
| Contingent interest income | 208,059 | — | — | — | 2 | |
| Other income | 2 | 785,386 | 310,916 | — | — | |
| Total revenues | 85 | 91 | 105 | 81 | 68 | |
| Real estate operating | — | — | 3 | 5 | 4 | |
| Provision for credit losses (Note 10) | 10 | −1 | −2 | — | — | |
| Depreciation | 8,965 | 23,867 | 2 | — | — | |
| Interest expense | 50 | 60 | 69 | 44 | 22 | |
| Net result from derivative transactions (Note 15) | 4 | −8 | −7 | −13 | — | |
| General and administrative | 19 | 20 | 20 | 17 | 15 | |
| Total expenses | 83 | 70 | 84 | 55 | 46 | |
| Gain on sale of real estate assets | 3 | 63,739 | 10 | — | −14,800 | |
| Gain on sale of mortgage revenue bond | — | 2 | — | — | — | |
| Gain on sale of investments in unconsolidated entities | 185,963 | 117,844 | 23 | 40 | 16 | |
| Earnings (losses) from investments in unconsolidated entities | −13 | −2 | −17,879 | — | — | |
| Income (loss) before income taxes | −7 | 21 | 54 | 66 | 38 | |
| Income tax expense | 827,548 | 32,447 | 10,866 | −51,194 | 63,792 | |
| Net income (loss) | −8 | 21 | 54 | 66 | 38 | |
| Redeemable Preferred Unit distributions and accretion | −4 | −3 | −3 | −3 | −3 | |
| Net income (loss) available to Partners | −12 | 18 | 51 | 63 | 35 | |
| General Partner | 157,970 | 479,602 | 4 | 3 | 3 | |
| Net income (loss) available to Partners and noncontrolling interest | −12 | 18 | 51 | 63 | 35 | |
| BUC holders' interest in net income (loss) per BUC, basic | −0.52 | 0.76 | 2.06 | 2.58 | 1.53 | |
| BUC holders' interest in net income (loss) per BUC, diluted | −0.52 | 0.76 | 2.06 | 2.58 | 1.53 | |
| Weighted average number of BUCs outstanding, basic | 23 | 23 | 23 | 23 | 21 | |
| Weighted average number of BUCs outstanding, diluted | 23 | 23 | 23 | 23 | 21 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 40 | 15 | 38 | 51 | 68 | |
| Restricted cash | 15 | 17 | 10 | 41 | 84 | |
| Interest receivable, net | 7 | 7 | 8 | 12 | 9 | |
| Mortgage revenue bonds, at fair value (Note 4) | 1,008 | 1,026 | 931 | 36 | 43 | |
| Governmental issuer loans (Note 5) | 139 | 226 | 223 | 300 | 185 | |
| Allowance for credit losses (Note 10) | −609,000 | −1 | −1 | — | — | |
| Governmental issuer loans, net | 138 | 225 | 222 | 300 | — | |
| Property loans (Note 6) | 54 | 57 | 123 | 176 | — | |
| Allowance for credit losses (Note 10) | −3 | −2 | −2 | −495,000 | — | |
| Property loans, net | 50 | 55 | 121 | 175 | 68 | |
| Investments in unconsolidated entities (Note 7) | 146 | 179 | 137 | 116 | 108 | |
| Real estate assets (Note 8) | 4 | 5 | 5 | 37 | 60 | |
| Other assets (Note 9) | 95 | 50 | 43 | 36 | 11 | |
| Total Assets | 1,503 | 1,580 | 1,513 | 1,567 | 1,386 | |
| Accounts payable, accrued expenses and other liabilities (Note 11) | 21 | 23 | 23 | 22 | 14 | |
| Distribution payable | 6 | 9 | 9 | 11 | 13 | |
| Secured lines of credit (Note 12) | 81 | 69 | 33 | 56 | 46 | |
| Debt financing, net (Note 13) | 1,015 | 1,093 | 1,015 | 1,059 | 820 | |
| Mortgages payable, net (Note 14) | 231,679 | 2 | 2 | 2 | — | |
| Total Liabilities | 1,123 | 1,196 | 1,082 | 1,149 | 919 | |
| Commitments and Contingencies (Note 16) | — | — | — | — | — | |
| Redeemable Preferred Units, $102.5 million and $77.5 million redemption value, 10.3 million and 7.8 million issued and outstanding, respectively (Note 17) | 102 | 77 | 82 | 94 | 94 | |
| General Partner (Note 1) | — | 98,621 | 543,977 | 285,571 | 765,550 | |
| Beneficial Unit Certificates (Note 1) | 277 | 306 | 349 | 324 | 372 | |
| Total Partners' Capital | 277 | 306 | 349 | 324 | 372 | |
| Total Liabilities and Partners' Capital | 1,503 | 1,580 | 1,513 | 1,567 | 1,386 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of deferred financing costs | 1 | 2 | 2 | 3 | 1 | |
| (Earnings) losses from investments in unconsolidated entities | 13 | 2 | 17,879 | — | — | |
| Contingent interest realized on investing activities | −208,059 | — | — | — | — | |
| Adjustment of prior credit loss | 40,073 | −69,000 | −68,812 | — | — | |
| (Gains) losses on derivative instruments, net of cash paid | 7 | −2 | 3 | −7 | −21,915 | |
| Restricted unit compensation expense | 2 | 2 | 2 | 2 | 1 | |
| Bond premium, discount and acquisition fee amortization | 218,557 | −1 | −212,071 | −2 | — | |
| Debt premium amortization | −40,285 | −40,456 | −40,556 | −40,591 | −40,565 | |
| Deferred income tax expense & income tax payable/receivable | 804,277 | 110,716 | 10,041 | −120,923 | −166,206 | |
| Change in preferred return receivable from unconsolidated entities, net | 13 | −5 | −6 | −2 | 5 | |
| (Increase) decrease in interest receivable | −164,273 | 819,594 | 2 | −2 | −1 | |
| (Increase) decrease in other assets | −263,018 | 492,341 | 777,209 | −356,241 | −349,949 | |
| Increase (decrease) in accounts payable, accrued expenses and other liabilities | 2 | 805,522 | 887,758 | 4 | 3 | |
| Net cash provided by operating activities | 38 | 18 | 25 | 21 | 34 | |
| Advances on mortgage revenue bonds | −58 | −260 | −141 | −183 | −70 | |
| Advances on taxable mortgage revenue bonds | −16 | −18 | −13 | −14 | −2 | |
| Advances on governmental issuer loans | −48 | −51 | −67 | −115 | −120 | |
| Advances on taxable governmental issuer loans | −44 | −11 | −6 | −7 | −1 | |
| Advances on property loans | −8 | −16 | −49 | −131 | −56 | |
| Contributions to unconsolidated entities | −19 | −40 | −35 | −34 | −38 | |
| Capitalized interest related to unconsolidated entities | −4 | — | — | — | — | |
| Proceeds from sale of land held for development | 1 | — | 441,714 | — | 110,000 | |
| Capital expenditures | — | — | −798,141 | −2 | −156,765 | |
| Proceeds from sale of the Suites on Paseo MF Property | — | 63,739 | 40 | — | — | |
| Proceeds from sale of mortgage revenue bonds | — | 109 | — | — | — | |
| Proceeds from sale of investments in unconsolidated entities | 24 | 117,844 | 44 | 67 | — | |
| Return of investments in unconsolidated entities | 7 | — | — | 1 | 1 | |
| Principal payments received on mortgage revenue bonds and contingent interest | 74 | 29 | 27 | — | — | |
| Principal payments received on governmental issuer loans | 129 | 48 | 145 | — | — | |
| Proceeds from sale of governmental issuer loan to Construction Lending JV | 7 | — | — | — | — | |
| Principal payments received on taxable mortgage revenue bonds | 793,849 | 13 | 7 | 10,583 | 9,675 | |
| Principal payments received on taxable governmental issuer loans | 13 | 11 | — | — | — | |
| Proceeds from sale of taxable governmental issuer loan to Construction Lending JV | 1 | — | — | — | — | |
| Principal payments received on property loans | 8 | 81 | 102 | 30 | 191,264 | |
| Net cash provided by (used in) investing activities | 66 | −105 | 54 | −279 | −187 | |
| Distributions paid | −36 | −38 | −42 | −47 | −29 | |
| Proceeds from the sale of BUCs | — | 2 | — | — | 33 | |
| Payment of offering costs related to the sale of BUCs | — | −30,662 | — | — | −2 | |
| Payment of tax withholding related to restricted unit awards | −140,798 | −234,911 | −483,255 | −456,127 | −301,562 | |
| Proceeds from debt financing | 105 | 345 | 332 | 643 | 181 | |
| Principal payments on debt financing | −184 | −264 | −375 | −405 | −35 | |
| Principal borrowing on mortgages payable | — | — | 25 | — | — | |
| Principal payments on mortgages payable | −1 | −25,653 | −25 | −906,481 | −850,674 | |
| Principal borrowing on secured lines of credit | 57 | 139 | 136 | 138 | 71 | |
| Principal payments on secured lines of credit | −45 | −103 | −158 | −128 | −25 | |
| Proceeds upon issuance of redeemable Preferred Units | 25 | 5 | 18 | — | — | |
| Decrease in security deposit liability related to restricted cash | — | — | −51,393 | −148,851 | 89,854 | |
| Payment upon redemption of redeemable Preferred Units | — | −10 | −30 | — | — | |
| Debt financing and other deferred costs paid | −873,733 | −4 | −3 | −2 | −2 | |
| Net cash provided by (used in) financing activities | −80 | 71 | −123 | 198 | 182 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 24 | −16 | −45 | −59 | 29 | |
| Cash paid during the period for interest | 51 | 52 | 56 | 32 | 20 | |
| Cash paid during the period for income taxes | 54,686 | 8,841 | — | 69,729 | 229,998 | |
| Distributions declared but not paid for BUCs and General Partner | 6 | 9 | 9 | 11 | 13 | |
| Distributions declared but not paid for Preferred Units | 1 | 735,938 | 618,750 | 708,750 | 708,750 | |
| Non-cash net adjustments related to 50/50 MF Property sale (Note 2) | 6 | — | — | — | — | |
| Exchange of redeemable Preferred Units | — | 18 | 7 | 10 | — | |
| Deferred financing costs financed through accounts payable | 42,017 | 51,926 | 95,149 | 117,400 | 131,678 | |
| Capital expenditures financed through accounts payable | — | 190,124 | — | 565,614 | 686,287 | |
| Non-cash contribution to unconsolidated entity | — | — | 997,062 | — | — |
Filings
Material Events
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Institutional Holders
Frequently asked questions
What is Greystone Housing Impact Investors LP's CIK number?
Greystone Housing Impact Investors LP's SEC CIK number is 0001059142 (1059142). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Greystone Housing Impact Investors LP's SEC filings?
All of Greystone Housing Impact Investors LP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Greystone Housing Impact Investors LP last report earnings?
Greystone Housing Impact Investors LP (GHI) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-216870). This is Greystone Housing Impact Investors LP's most recent earnings filing of record — not a forecast of its next earnings date.
What is Greystone Housing Impact Investors LP's most recent earnings 8-K?
Greystone Housing Impact Investors LP's latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001193125-26-216870. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Greystone Housing Impact Investors LP's latest earnings 8-K →
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