Greystone Housing Impact Investors Lp ( (GHI) ) has released its Q3 earnings. Here is a breakdown of the information Greystone Housing Impact Investors Lp presented to its investors.
Greystone Housing Impact Investors LP is a partnership established in 1998, specializing in acquiring and managing a portfolio of mortgage revenue bonds aimed at financing affordable multifamily, senior, and student housing properties. The company operates primarily within the real estate investment sector, utilizing leveraged investment strategies and interest rate risk management instruments.
In its latest financial results for the third quarter of 2024, Greystone Housing Impact Investors LP reported a net loss of $0.23 per Beneficial Unit Certificate (BUC) but achieved a Cash Available for Distribution (CAD) of $0.27 per BUC. This discrepancy is largely attributed to unrealized losses from interest rate derivatives, reflecting the impact of declining market interest rates. For the nine-month period, the partnership reported a net income of $0.38 per BUC and a CAD of $0.77 per BUC.
Key financial metrics include total assets valued at $1.55 billion and a mortgage revenue bond and governmental issuer loan investment portfolio totaling $1.24 billion. Despite the net loss, the partnership maintained steady cash flow from its derivative positions and continued its investment activities, advancing significant funds across various investments and receiving considerable redemption proceeds.
The management of Greystone Housing Impact Investors LP remains focused on its core investment strategy amidst ongoing market volatility. The company emphasizes its commitment to providing consistent returns to its unitholders, balancing the challenges and opportunities presented by the fixed income and multifamily capital markets.
Looking ahead, Greystone’s management remains optimistic about navigating the current economic landscape, leveraging its investment strategy and hedging operations to mitigate interest rate volatility and enhance financial performance.
