Greystone Housing Impact Investors LP
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| Assets: | ||
| Cash and cash equivalents | $34,036,426 | $37,918,237 |
| Restricted cash | 16,860,718 | 9,815,909 |
| Interest receivable, net | 7,193,344 | 8,265,901 |
| Mortgage revenue bonds held in trust, at fair value (Note 4) | 990,067,074 | 883,030,786 |
| Mortgage revenue bonds, at fair value (Note 4) | 11,984,951 | 47,644,509 |
| Governmental issuer loans | ||
| Governmental issuer loans held in trust (Note 5) | 214,557,300 | 222,947,300 |
| Allowance for credit losses (Note 10) | (1,111,000) | (1,294,000) |
| Governmental issuer loans, net | 213,446,300 | 221,653,300 |
| Property loans | ||
| Property loans (Note 6) | 63,306,149 | 122,556,204 |
| Allowance for credit losses (Note 10) | (1,948,000) | (2,048,000) |
| Property loans, net | 61,358,149 | 120,508,204 |
| Investments in unconsolidated entities (Note 7) | 157,940,664 | 136,653,246 |
| Real estate assets, net (Note 8) | 4,716,140 | 4,716,140 |
| Other assets (Note 9) | 31,037,954 | 43,194,470 |
| Total Assets (1) | $1,528,641,720 | $1,513,400,702 |
| Liabilities: | ||
| Accounts payable, accrued expenses and other liabilities (Note 11) | $21,215,235 | $22,958,088 |
| Distribution payable | 8,704,438 | 8,584,292 |
| Secured lines of credit (Note 12) | 41,250,000 | 33,400,000 |
| Debt financing, net (Note 13) | 1,052,526,098 | 1,015,030,066 |
| Mortgages payable, net (Note 14) | 1,690,000 | 1,690,000 |
| Total Liabilities (1) | 1,125,385,771 | 1,081,662,446 |
| Commitments and Contingencies (Note 16) | ||
| Redeemable Preferred Units, $77.5 million redemption value, 7.8 million issued and outstanding, net (Note 17) | 77,395,065 | 82,431,548 |
| Partnersʼ Capital: | ||
| General Partner (Note 1) | 294,615 | 543,977 |
| Beneficial Unit Certificates (Note 1) | 325,566,269 | 348,762,731 |
| Total Partnersʼ Capital | 325,860,884 | 349,306,708 |
| Total Liabilities and Partnersʼ Capital | $1,528,641,720 | $1,513,400,702 |
(1)
The consolidated balance sheets include assets of consolidated VIEs that can only be used to settle obligations of these VIEs that totaled$1,281,485,410 and$1,247,819,817 as of June 30, 2024 and December 31, 2023, respectively. The consolidated balance sheets include liabilities of the consolidated VIEs for which creditors do not have recourse to the general credit of the Partnership that totaled$372,228,109 and$374,992,803 as of June 30, 2024 and December 31, 2023, respectively. See Note 3 - Variable Interest Entities for further detail.
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