Greystone Housing Impact Investors LP Extends General Line of Credit Facility

Rhea-AI Summary

Greystone Housing Impact Investors LP (NYSE: GHI) has successfully amended its $50 million secured revolving Line of Credit facility. The amendment extends the maturity date to June 2027 with two additional one-year extension options. Key changes include an increase in the maximum allowable seniors housing joint venture equity investments to 30% of eligible encumbered assets and expanded limits on Partnership's guaranties for joint venture equity investment debt. The LOC, secured by Partnership's joint venture equity investments, is arranged by BankUnited, N.A. An affiliate of the Partnership's general partner provides a no-fee deficiency guaranty. CEO Kenneth C. Rogozinski highlighted that this amendment enhances operational flexibility and provides valuable liquidity for additional joint venture equity investments in seniors housing.

Positive

• Extended credit facility maturity to June 2027 with two additional one-year extension options
• Increased maximum allowable seniors housing joint venture equity investments to 30%
• Enhanced operational flexibility for joint venture equity investments
• No-fee deficiency guaranty from affiliate

Negative

• None.

OMAHA, Neb., June 18, 2025 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on June 12, 2025, it amended its existing $50 million secured revolving Line of Credit facility (“LOC”). The LOC is secured by the Partnership’s joint venture equity investments. BankUnited, N.A. serves as sole arranger and administrative agent.

The amendment extended the maturity date to June 2027, with two additional one-year extension options, increased the maximum allowable seniors housing joint venture equity investments the Partnership can make to 30% of eligible encumbered assets, and increased the Partnership’s maximum allowable limited guaranties of debt associated with its joint venture equity investments.

An affiliate of the Partnership’s general partner provides a deficiency guaranty for the facility. The affiliate does not charge the Partnership a fee for the deficiency guaranty.

“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.

About Greystone Housing Impact Investors LP

Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

Safe Harbor Statement

Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

MEDIA CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com

INVESTOR CONTACT:
Andy Grier
Senior Vice President
402-952-1235

FAQ

What changes were made to GHI's Line of Credit facility in June 2025?

GHI extended the maturity date to June 2027, increased seniors housing joint venture investment limits to 30% of eligible encumbered assets, and expanded allowable debt guaranties for joint venture investments.

What is the size of Greystone Housing Impact Investors' credit facility?

The secured revolving Line of Credit facility is $50 million.

Who is the administrative agent for GHI's credit facility?

BankUnited, N.A. serves as the sole arranger and administrative agent for the credit facility.

How long is the extension period for GHI's credit facility?

The facility matures in June 2027 with two additional one-year extension options, potentially extending to 2029.

What secures Greystone Housing Impact Investors' Line of Credit?

The Line of Credit is secured by the Partnership's joint venture equity investments.