The following is a summary of the Greystone Housing Impact Investors LP (GHI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Greystone Housing Impact Investors reported Q2 2024 net income of $0.19 per unit and $0.27 of cash available for distribution (CAD) per unit.

• The company currently holds $1.3 billion in affordable multifamily investments and $158 million in joint venture equity investments.

• Greystone announced a regular quarterly cash distribution of $0.37 per unit paid on July 31, 2024.

• Revenue bond portfolio faced valuation decreases due to rising tax-exempt rates, but it remains primarily a long-term holder of these investments.

Business Progress:

• Portfolio health remains strong with ongoing construction projects progressing without major disruptions and physical occupancy at 91.9% for stabilized mortgage revenue bond portfolio.

• Actively involved in new and ongoing construction projects demonstrating aggressive capital deployment in line with business growth strategies.

• Addressed industry challenges by providing stable, cost-effective capital to clients, through instruments such as the Freddie Mac Tax-exempt loan forward commitment.

• The sale of the MRB related to the Vantage at Tombo property indicates active portfolio management.

Opportunities:

• Continuous proactive management positions the company well for leveraging favorable market conditions and increasing investor interest in municipal bonds.

Risks:

• Exposure to interest rate fluctuations, although largely hedged, could impact net interest income as indicated by the interest rate sensitivity analysis.

More details: Greystone Housing Impact Investors IR

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