Q1 2025 Greystone Housing Impact Investors LP Earnings Call Transcript

May 7, 2025 / 08:30 PM GMT

Release Date Price: $11.39 (-2.06%)

Transcript 10-Q8-K

Key Points

Positve

Greystone Housing Impact Investors LP (GHI) reported no forbearance requests for multi-family mortgage revenue bonds, with all borrowers current on principal and interest payments.
Physical occupancy for stabilized mortgage revenue bond portfolio was at 89.5% as of March 30, 2025.
The company successfully sold the Vantage at Holous property to a local housing authority and nonprofit, generating proceeds of $17.1 million.
GHI's unrestricted cash and cash equivalents increased significantly to $51.4 million as of March 31, 2025, up from $14.7 million at the end of 2024.
The company issued $20 million of Series B preferred units in March 2025, enhancing its liquidity position.

Negative

GHI reported a GAAP net income of $3.3 million, which was significantly impacted by $3.9 million of non-cash unrealized losses on interest rate derivatives.
The book value per unit decreased by $0.56 from December 31, 2024, primarily due to a decrease in the fair value of the mortgage revenue bond portfolio.
The municipal bond market underperformed, with investment-grade tax-exempt bonds being the worst-performing US fixed income asset class in Q1 2025.
Insurance costs significantly impacted the profitability of certain asset sales, such as the Vantage at Tomball property.
The company faces potential interest rate risk, with 16.6% of its debt financing exposed to variable rates without designated hedging.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GHI.N - Greystone Housing Impact Investors LP
Q1 2025 Greystone Housing Impact Investors LP Earnings Call
May 07, 2025 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to 1st quarter of 2025 earnings call for Graystone Housing Impact Investors. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press stars on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Jessie Corey.

Thank you. You may begin.

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Unidentified_2 [2]
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