Greystone Housing Impact Investors LP reports developments tied to a portfolio of mortgage revenue bonds issued to finance affordable multifamily, seniors and student housing properties, along with Governmental Issuer Loans and other investments. The Delaware limited partnership's Beneficial Unit Certificates trade on the NYSE under GHI, and its updates commonly cover quarterly results, Cash Available for Distribution, MRB and GIL advances, redemptions and portfolio activity.
Recurring announcements also include regular cash distributions to BUC holders, Schedule K-1 availability, earnings conference calls and governance changes at Greystone AF Manager LLC, the general partner of the Partnership's general partner. Company news has also addressed portfolio repositioning between market-rate multifamily joint venture equity investments and tax-exempt mortgage revenue bond investments.
Greystone Housing Impact Investors LP (NYSE: GHI) announced on February 15, 2023, the execution of an Exchange Agreement for 700,000 Series A-1 Preferred Units, valued at $7 million, in exchange for Series A Preferred Units held by a financial institution. Additionally, the Partnership issued 800,000 new Series A-1 Preferred Units, raising $8 million in new capital. These transactions provide the Partnership with $8 million in low-cost capital and allow it to retain $7 million of its original issuance. So far, $37 million of Series A Preferred Units have been exchanged. CEO Kenneth C. Rogozinski expressed optimism about these investments benefiting unitholders.
Greystone Housing Impact Investors LP (NYSE: GHI) announced a conference call on February 23, 2023, at 4:30 p.m. ET to discuss its Fourth Quarter 2022 results. Interested participants can join by dialing toll-free (877) 407-8813 or internationally at +1 (201) 689-8521. The call will also be available live via webcast on the Partnership's website. A recorded replay will be accessible afterward. Greystone Housing focuses on acquiring mortgage revenue bonds for affordable housing financing and aims to grow its investment portfolio strategically.
Greystone Housing Impact Investors LP (NYSE: GHI) recently announced the closure of $118 million in mortgage revenue bond (MRB) investments during December 2022 and January 2023. These investments are secured by four affordable housing properties acquired by two mission-driven non-profits. The funding will help rehabilitate these properties to increase affordable multifamily units. Notably, the MRB investments have a fixed interest rate of 6.5% and a seven-year term. These investments were facilitated through Greystone's strong relationships within the industry, emphasizing its commitment to community impact.
On January 5, 2023, Greystone Housing Impact Investors LP (NYSE: GHI) announced the sale of two 294-unit multifamily properties, Vantage at Stone Creek and Vantage at Coventry, located in Omaha, NE. These sales totaled approximately $27.7 million in cash, returning equity invested during construction. The Partnership anticipates recognizing gains of about $15.2 million and net income of approximately $0.51 per Beneficial Unit Certificate (BUC) in Q1 2023. The CEO praised the development partner’s ability to generate significant gains and mentioned ongoing evaluations for further investment opportunities.
On December 19, 2022, Greystone Housing Impact Investors LP (NYSE: GHI) announced a distribution of $0.67 per Beneficial Unit Certificate (BUC) to its holders. This includes a quarterly cash distribution of $0.37, a supplemental cash distribution of $0.10, and a distribution of additional BUCs valued at $0.20. The distributions will be paid on January 31, 2023, to BUC holders of record by December 30, 2022. The board emphasizes its commitment to distributing earnings while retaining capital for future investments, reflecting a total distribution of approximately $2.14 per BUC for 2022.
Greystone Housing Impact Investors LP (NYSE: GHI), formerly America First Multifamily Investors, celebrated its first trading of beneficial unit certificates on December 5, 2022, by ringing the NYSE opening bell on December 12, 2022. The Partnership focuses on mortgage revenue bonds and loans for affordable housing projects. Ken Rogozinski, CEO, highlighted the significance of this event, emphasizing Greystone's role in addressing the affordable housing crisis. Greystone stands as a leader in HUD-insured loans and affordable housing financing, aiming for continued growth in this sector.
On December 5, 2022, America First Multifamily Investors, L.P. officially rebranded as Greystone Housing Impact Investors LP (NYSE: GHI). The trading of its beneficial unit certificates started on the NYSE on the same day. The Partnership aims to enhance its public profile and demonstrate its commitment to affordable multifamily housing investments in the U.S. Additionally, a revised Partnership Agreement and Equity Incentive Plan were approved without the need for BUC holder approval. The NYSE opening bell ceremony is scheduled for December 12, 2022.