Q3 2025 Greystone Housing Impact Investors LP Earnings Call Transcript

Nov 6, 2025 / 09:30 PM GMT

Release Date Price: $7.35 (-10.80%)

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.
The company has a strong leasing velocity with construction of all properties either complete or substantially complete.
GHI's investment in tax-exempt mortgage revenue bonds is expected to provide more predictable returns due to stable net interest spreads.
The partnership's newly established construction lending joint venture with BlackRock is anticipated to provide future tax-advantaged earnings.
GHI's book value per unit increased by $0.53 from June 30th, primarily due to an increase in unrealized gains on the mortgage revenue bond portfolio.

Negative

Fiscal occupancy for the stabilized mortgage revenue bond portfolio decreased slightly to 87.8% as of September 30th, primarily due to higher vacancies in Texas.
Higher interest rates and capitalization rates have negatively impacted multi-family asset values, resulting in lower returns upon sales of properties.
The company reported a provision for credit losses of $596,000 in the third quarter, primarily related to a support loan to an MRB borrower.
Realized returns from property sales in 2025 were much lower than in prior years, despite all invested capital being returned.
GHI's closing unit price on the New York Stock Exchange was $8.24, representing a 33% discount to the book value per unit as of September 30th.

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

GHI.N - Greystone Housing Impact Investors LP
Q3 2025 Greystone Housing Impact Investors LP Earnings Call
Nov 06, 2025 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Q3 2025 earnings call for Greystone Housing Impact Investors LP.

At this time, all participants are in 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 0 on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Jesse Corey. Please go ahead.

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Unidentified_2 [2]
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I would like to welcome everyone to the

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