Monitor whether the properties achieve the required debt service coverage ratios by the 2027 deadlines, as failure could trigger mandatory prepayments or collateral posting, impacting liquidity.
Price Chart
Executive Summary
Greystone Housing Impact Investors LP acquired two affordable multifamily properties, Windsor Shores and Century Plaza, via deed in lieu of foreclosure after the non-profit owners defaulted. To finance the acquisition, the company secured an additional $42 million in debt, bringing the total loan to $84 million, with new financial covenants requiring minimum debt service coverage ratios of 1.00:1.00 and 1.05:1.00 by February and June 2027.
Key Financial Metrics
Key Facts
- Acquired Windsor Shores Apartments (176 units) and Century Plaza Apartments (212 units) via deed in lieu of foreclosure due to borrower default on mortgage revenue bonds.
- Financed acquisition with $42 million in additional loan proceeds, increasing total loan to $84 million from BankUnited, N.A. and ServisFirst Bank.
- Loan is secured by the acquired properties and other collateral, with interest at one-month Term SOFR plus 2.75%.
- New financial covenants require minimum Debt Service Coverage Ratios of 1.00:1.00 (by Feb 15, 2027) and 1.05:1.00 (by June 30, 2027).
- Failure to meet covenants requires prepayment, cash collateral, or a letter of credit.
Financial Impact
Added $42 million in debt to acquire two properties totaling 388 units. Total loan now $84 million.
Risk Factors
- Failure to meet future DSCR covenants could require significant cash outlays or asset pledging.
- Properties previously defaulted due to inability to achieve required operating results, raising concerns about near-term performance.
- Floating interest rate (SOFR + 2.75%) exposes the company to rising rate risk.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-094066 |
| Document: ghi-20260227.htm | 0001193125-26-094066 |
| Document: ghi-ex10_2.htm | 0001193125-26-094066 |
| Document: ghi-ex10_3.htm | 0001193125-26-094066 |
| Document: 0001193125-26-094066-index-headers.html | 0001193125-26-094066 |
| Document: 0001193125-26-094066-index.html | 0001193125-26-094066 |
| Document: 0001193125-26-094066.txt | 0001193125-26-094066 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $4.94 | awaiting T+20 | — | $4.92 (−0.40%) |
Oct 22, 2026 4d ago | Press Release | $4.99 | awaiting T+20 | — | $4.92 (−1.40%) |
Oct 9, 2026 17d ago | 8-K | $5.17 | awaiting T+20 | — | $4.92 (−4.84%) |
Sep 16, 2026 5w ago | Press Release | $5.97 $4.95 | ▼ −17.09% | ▼ −18.29% | $4.92 (−17.59%) |
Aug 10, 2026 11w ago | 8-K | $5.71 $6.28 | ▼ −9.98% | ▼ −11.04% | $4.92 (+13.84%) |
Aug 10, 2026 11w ago | Press Release | $5.71 $6.28 | ▼ −9.98% | ▼ −11.04% | $4.92 (+13.84%) |
Jul 23, 2026 13w ago | Press Release | $5.12 | awaiting T+20 | — | $4.92 (−3.91%) |
Jun 16, 2026 18w ago | Press Release | $5.22 $5.25 | ▲ +0.57% | ▼ −0.74% | $4.92 (−5.75%) |
Jun 8, 2026 20w ago | 8-K | $5.16 $5.56 | ▲ +7.75% | ▲ +6.31% | $4.92 (−4.65%) |
May 11, 2026 24w ago | 8-K | $5.20 $5.14 | ▲ +1.15% | ▼ −0.57% | $4.92 (+5.38%) |
US Market Status
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