Greystone Housing Impact Investors LP (GHI): debt financing — Greystone Housing secures $42M loan amendment to acquire two SC affordable housing properties after bond defaults

Greystone Housing Impact Investors LP

Acquired Windsor Shores (176 units) and Century Plaza (212 units) via deed in lieu of foreclosure in SC.
Additional $42M advanced; total loan facility now $84M split equally between BankUnited and ServisFirst.
Interest at 1-month SOFR + 2.75%; new DSCR covenants: 1.00x (Feb 2027) and 1.05x (Jun 2027).
Properties previously backed mortgage revenue bonds; defaults occurred Feb 2026 due to weak operations.
Swap agreements hedging floating rate executed for full $84M principal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Greystone Housing Impact Investors LP incurred credit facility of $84,000,000 with BankUnited, N.A. and ServisFirst Bank at one-month Term SOFR plus 2.75%.

Instrument: credit facility
Principal: $84,000,000
Counterparty: BankUnited, N.A. and ServisFirst Bank
Rate: one-month Term SOFR plus 2.75%
Event: incurrence

Exact text from the filing

the Borrower executed two promissory notes (the “Notes”) payable to the order of BankUnited, N.A. and ServisFirst Bank (collectively, the “Lenders”) totaling $84,000,000, which is the principal amount outstanding under the Amended Loan Agreement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Greystone Housing Impact Investors LP amended First Amendment to Loan Agreement with BankUnited, N.A. valued at $84,000,000 (effective 2026-02-27).

Action: amendment
Agreement: credit facility
Counterparty: BankUnited, N.A.
Value: $84,000,000
Effective: 2026-02-27

Exact text from the filing

entered into a First Amendment to Loan Agreement (the “First Amendment”) with the administrative agent, BankUnited, N.A (as “Administrative Agent”)

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Greystone Housing Impact Investors LP filing history →

Source: SEC EDGAR

accession 0001193125-26-094066

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