Greystone Housing Impact Investors amends $50 million credit facility

OMAHA, Neb. - Greystone Housing Impact Investors LP (NYSE: GHI), a company with a market capitalization of $283 million and a remarkable 40-year streak of consecutive dividend payments, has amended its existing $50 million secured revolving Line of Credit facility, the company announced in a press release.

The amendment, completed on June 12, extends the maturity date to June 2027 with two additional one-year extension options. It also increases the maximum allowable seniors housing joint venture equity investments to 30% of eligible encumbered assets and expands the Partnership’s maximum allowable limited guaranties of debt associated with its joint venture equity investments. According to InvestingPro data, the company maintains a FAIR financial health score and currently offers an attractive dividend yield of 12.2%.

BankUnited, N.A. serves as the sole arranger and administrative agent for the facility, which is secured by the Partnership’s joint venture equity investments. An affiliate of GHI’s general partner provides a deficiency guaranty for the facility at no charge to the Partnership.

"The amendment to our general LOC provides valuable liquidity and enhances our operational flexibility to make additional joint venture equity investments in the seniors housing segment," said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership.

Greystone Housing Impact Investors LP was formed in 1998 to acquire, hold, sell and manage a portfolio of mortgage revenue bonds that provide financing for affordable multifamily, seniors and student housing properties. Trading at a price-to-book ratio of 0.96, the company is currently valued near its Fair Value according to InvestingPro analysis, which offers comprehensive research reports for over 1,400 US stocks. The Partnership expects the interest earned on these mortgage revenue bonds to be excludable from gross income for federal income tax purposes.

The information is based on a company press release statement.

In other recent news, Greystone Housing Impact Investors reported their first-quarter 2025 financial results, revealing a mixed performance. The company posted earnings per share of $0.11, which fell short of the anticipated $0.24. However, Greystone exceeded revenue expectations, reporting $25.12 million compared to the forecasted $22.83 million. JMP Securities maintained a Market Outperform rating for Greystone, with a price target of $16.00, following these results. The analyst noted the company’s consistent capital deployment in affordable housing and expected gains from joint ventures. Greystone’s unrestricted cash increased significantly to $51.4 million, which may support future investment opportunities. The company is also focusing on strategic growth through a joint venture with BlackRock, aiming to deploy $450 million in lending capacity. Despite the earnings miss, Greystone’s revenue beat and strategic initiatives indicate a potential for future improvements.

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