Greystone Housing Impact Investors LP announces brokered sale of Vantage at Hutto

OMAHA, Neb., Sept. 23, 2024 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) today announced that Vantage at Hutto, a 288-unit market rate multifamily property located in Hutto, Texas (the “Property”) is offered for sale by Institutional Property Advisors Texas under the direction of the managing director of the entity that owns the Property. The Company’s non-controlling investment in the Property commenced in November 2020, with the Company contributing $11.8 million in equity capital during construction and stabilization. Construction of the Property was completed in December 2023. As of August 31, 2024, the Property recorded 89% physical occupancy. If the Property’s listing process is consistent with Vantage’s prior property sales and the sale agreement is successfully completed, the Company expects the Property to be sold in the first quarter of 2025. Current market volatility and potential future market developments may delay the expected sale date and may negatively impact on the final sale price of the Real Estate.

As with previous sales of Vantage properties, the managing member controls the listing and sale process in accordance with the terms of the operating agreement of the entity that owns the Property (the “Operating Agreement”). The Company will be entitled to certain net proceeds upon successful completion of the sale of the Property pursuant to the Operating Agreement.

About Greystone Housing Impact Investors LP

Greystone Housing Impact Investors LP was incorporated in 1998 under the Delaware Amended Uniform Limited Liability Company Act for the principal purpose of acquiring, maintaining, selling and otherwise managing a portfolio of mortgage treasury bonds issued to provide for the construction and/or or permanent financing for affordable multifamily properties, for seniors and students. The company pursues a business strategy of acquiring additional mortgage revenue bonds and other investments on a financial leverage basis. The Company expects and believes that interest accrued on these mortgage revenue bonds may be excluded from gross income for federal income tax purposes. The Company seeks to implement its investment growth strategy by investing in additional mortgage revenue bonds and other investments 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 concluding interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at: www.ghiinvestors.com.

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Safe Harbor Statement.

The information contained in this press release contains “forward-looking statements” that are based on current expectations, projections and assumptions that involve risks and uncertainties that could cause actual results and results to differ materially. These risks and uncertainties include, but are not limited to, risks relating to the current maturities of our financial arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, security valuations, mortgage bond investment valuations and general economic and financial conditions. credit market conditions. A further list and description of such risks can be found in reports and other documents filed by the Company 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 encouraged to consider these factors carefully when evaluating forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

MEDIA CONTACT:
Karen Marotta
Gray stone
212-896-9149
[email protected]