Greystone Housing Terminates Material Agreement

TL;DR

Greystone Housing terminated a big deal on Oct 15th. Details TBD.

AI Summary

Greystone Housing Impact Investors LP announced the termination of a material definitive agreement on October 15, 2024. The filing, submitted on October 21, 2024, does not provide specific details about the agreement or the parties involved, but it does include financial statements and exhibits.

Why It Matters

The termination of a material definitive agreement can signal significant changes in a company's operational or financial strategy, potentially impacting its future performance and relationships.

Risk Assessment

Risk Level: medium — The termination of a material definitive agreement, without further details, introduces uncertainty about the company's business relationships and future prospects.

Key Players & Entities

• Greystone Housing Impact Investors LP (company) — Registrant
• October 15, 2024 (date) — Date of earliest event reported
• October 21, 2024 (date) — Filing date
• 14301 FNB Parkway, Suite 211 (address) — Principal Executive Offices
• Omaha, Nebraska (location) — Principal Executive Offices location

FAQ

Key Financial Figures

• $65.5 million — ermination, borrowings in the amount of $65.5 million were outstanding under the M31 TEBS fac

Filing Documents

• ghi-20241015.htm (8-K) — 58KB
• 0000950170-24-115964.txt ( ) — 174KB
• ghi-20241015.xsd (EX-101.SCH) — 24KB
• ghi-20241015_htm.xml (XML) — 5KB

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. On October 15, 2024, Greystone Housing Impact Investors LP (the "Partnership"), and its affiliate, ATAX TEBS II, LLC, redeemed all principal and accrued interest outstanding on the M31 Tax-Exempt Bond Securitization (TEBS) debt financing facility ("M31 TEBS") provided through the securitization of 11 of the Partnership's mortgage revenue bonds with the Federal Home Loan Mortgage Corporation ("Freddie Mac") pursuant to Freddie Mac's TEBS program. In connection with the redemption of the M31 TEBS facility, the Partnership exercised its rights to terminate various agreements related to the facility, including (i) the Subordinate Bonds Custody Agreement dated July 1, 2014 by and among The Bank of New York Mellon Trust Company, N.A., Freddie Mac, the Partnership, and ATAX TEBS II, LLC; (ii) the Bond Exchange, Reimbursement, Pledge and Security Agreement dated July 1, 2014 between Freddie Mac and ATAX TEBS II, LLC, as amended by a First Amendment dated July 1, 2019; and (iii) the Limited Support Agreement dated July 1, 2014 between the Partnership and Freddie Mac. In addition, the Series Certificate Agreement dated July 1, 2014 between Freddie Mac, in its corporate capacity, and Freddie Mac, in its capacity as administrator, was terminated in connection with the redemption of the M31 TEBS facility. Pursuant to the M31 TEBS facility, the Partnership originally transferred 13 mortgage revenue bonds ("MRBs") to Freddie Mac to be securitized, of which two of the MRBs have been fully redeemed. Freddie Mac then issued Class A and Class B Freddie Mac Multifamily Variable Rate Certificates (collectively, the "TEBS Certificates"), which represented beneficial interests in the assets securitized within the M31 TEBS facility. The Class A TEBS Certificates were senior securities that were sold to unaffiliated investors and entitled the holders to cash flows from the securitized assets. The Class B TEBS Certificates were re

Forward-Looking Statements

Forward-Looking Statements Certain statements in this report are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of statements that include, but are not limited to, phrases such as "believe," "expect," "future," "anticipate," "intend," "plan," "foresee," "may," "should," "will," "estimates," "potential," "continue," or other similar words or phrases. Similarly, statements that describe objectives, plans, or goals also are forward-looking statements. Such forward-looking statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Partnership. The Partnership cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, implied, or projected by such forward-looking statements. Risks and uncertainties include, but are not limited to: defaults on the mortgage loans securing our mortgage revenue bonds and governmental issuer loans; the competitive environment in which the Partnership operates; risks associated with investing in multifamily, student, senior citizen residential properties and commercial properties; general economic, geopolitical, and financial conditions, including the current and future impact of changing interest rates, inflation, and international conflicts (including the Russia-Ukraine war and the Israel-Hamas war) on business operations, employment, and financial conditions; current financial conditions within the banking industry, including the effects of recent failures of financial institutions, liquidity levels, and responses by the Federal Reserve, Department of the Treasury, and the Federal Deposit Insurance Corporation to address these issues; uncertain conditions within the domestic and international macroeconomic environment, including monetary a

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits. Exhibit Number Description 10.1 Sale, Contribution and Assignment Agreement dated July 10, 2014 between America First Multifamily Investors, L.P. and ATAX TEBS II, LLC (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 000-24843), filed by the Partnership on July 16, 2014). 10.2 Subordinate Bonds Custody Agreement dated July 1, 2014 by and among The Bank of New York Mellon Trust Company, N.A., the Federal Home Loan Mortgage Corporation, America First Multifamily Investors, L.P., and ATAX TEBS II, LLC (incorporated herein by reference to Exhibit 10.2 to Form 8-K (No. 000-24843), filed by the Partnership on July 16, 2014). 10.3 Bond Exchange, Reimbursement, Pledge and Security Agreement dated July 1, 2014 between the Federal Home Loan Mortgage Corporation and ATAX TEBS II, LLC (incorporated herein by reference to Exhibit 10.3 to Form 8-K (No. 000-24843), filed by the Partnership on July 16, 2014). 10.4 First Amendment to Bond Exchange, Reimbursement, Pledge and Security Agreement dated July 1, 2019 between Federal Home Loan Mortgage Corporation and ATAX TEBS II, LLC relating to Freddie Mac Multifamily M Certificates Series M-031 (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 000-24843), filed by the Partnership on August 5, 2019). 10.5 Series Certificate Agreement dated July 1, 2014 between the Federal Home Loan Mortgage Corporation, in its corporate capacity, and the Federal Home Loan Mortgage Corporation, in its capacity as administrator (incorporated herein by reference to Exhibit 10.4 to Form 8-K (No. 000-24843), filed by the Partnership on July 16, 2014). 10.6 Limited Support Agreement dated July 1, 2014 between America First Multifamily Investors, L.P. and the Federal Home Loan Mortgage Corporation (incorporated herein by reference to Exhibit 10.5 to Form 8-K (No. 000-2484

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Greystone Housing Impact Investors LP Date: October 21, 2024 By: /s/ Jesse A. Coury Printed: Jesse A. Coury Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR