Greystone Housing Impact Investors LP Announces Broker’s For Sale Listing of Vantage at Hutto
Greystone Housing Impact Investors LP (NYSE: GHI) has announced that Vantage at Hutto, a 288-unit market rate multifamily property in Hutto, TX, has been publicly listed for sale by Institutional Property Advisors Texas. The Partnership's non-controlling investment in the Property, originated in November 2020, totals $11.8 million in equity contributions. Construction was completed in December 2023, and the Property reported 89% physical occupancy as of August 31, 2024.
If the listing process follows past Vantage property sales patterns and a sale contract is executed, the Partnership anticipates the sale to occur in Q1 2025. However, current market volatility may impact the timing and final sale price. The managing member controls the listing and sales process, and the Partnership will be entitled to certain net proceeds upon successful completion of the sale, as per the Operating Agreement.
Greystone Housing Impact Investors LP (NYSE: GHI) ha annunciato che Vantage at Hutto, un immobile multifamiliare di 288 unità a prezzo di mercato a Hutto, TX, è stato pubblicamente messo in vendita da Institutional Property Advisors Texas. L'investimento non di controllo della Partnership nella Proprietà, avviato nel novembre 2020, ammonta a 11,8 milioni di dollari in contribuzioni di capitale. I lavori di costruzione sono stati completati a dicembre 2023, e la Proprietà ha riportato un'occupazione fisica del 89% al 31 agosto 2024.
Se il processo di listing seguirà i modelli passati delle vendite delle proprietà Vantage e viene eseguito un contratto di vendita, la Partnership prevede che la vendita avverrà nel primo trimestre 2025. Tuttavia, la volatilità attuale del mercato potrebbe influenzare i tempi e il prezzo finale di vendita. Il membro gestore controlla il processo di listing e vendita, e la Partnership avrà diritto a determinati proventi netti al termine della vendita, secondo l'Accordo Operativo.
Greystone Housing Impact Investors LP (NYSE: GHI) ha anunciado que Vantage at Hutto, una propiedad multifamiliar de 288 unidades a precio de mercado en Hutto, TX, ha sido listada públicamente para la venta por Institutional Property Advisors Texas. La inversión no controladora de la Asociación en la Propiedad, originada en noviembre de 2020, totaliza 11.8 millones de dólares en contribuciones de capital. La construcción se completó en diciembre de 2023, y la Propiedad reportó un 89% de ocupación física al 31 de agosto de 2024.
Si el proceso de listado sigue los patrones de ventas de propiedades Vantage del pasado y se ejecuta un contrato de venta, la Asociación anticipa que la venta ocurrirá en el primer trimestre de 2025. Sin embargo, la volatilidad actual del mercado podría afectar el tiempo y el precio final de venta. El miembro administrador controla el proceso de listado y venta, y la Asociación tendrá derecho a ciertos ingresos netos al finalizar la venta, según el Acuerdo Operativo.
Greystone Housing Impact Investors LP (NYSE: GHI)는 Vantage at Hutto, 텍사스 주 하투의 288세대 시장형 다세대 주택이 Institutional Property Advisors Texas에 의해 공개 매물로 등록되었음을 발표했습니다. 파트너십의 비지배적 투자 지분은 2020년 11월에 시작되었으며, 총액은 1,180만 달러의 자본 기여금에 해당합니다. 건설은 2023년 12월에 완료되었습니다, 그리고 이 부동산은 2024년 8월 31일 기준으로 89%의 실제 점유률을 보고했습니다.
리스트 작성 과정이 과거 Vantage 부동산 판매 패턴을 따르고 판매 계약이 체결된다면, 파트너십은 2025년 1분기에 판매가 이루어질 것으로 예상하고 있습니다. 그러나 현재 시장의 변동성이 타이밍과 최종 판매 가격에 영향을 미칠 수 있습니다. 관리 회원은 리스트 및 판매 프로세스를 관리하며, 파트너십은 판매 완료 시 운영 계약에 따라 특정 순수익을 받을 권리가 있습니다.
Greystone Housing Impact Investors LP (NYSE: GHI) a annoncé que Vantage at Hutto, une propriété multifamiliale de 288 unités à prix de marché à Hutto, TX, a été mise en vente publiquement par Institutional Property Advisors Texas. L'investissement non contrôlant du Partenariat dans la Propriété, démarré en novembre 2020, s'élève à 11,8 millions de dollars en contributions en capital. La construction a été achevée en décembre 2023, et la Propriété a déclaré 89 % de taux d'occupation physique au 31 août 2024.
Si le processus de mise en vente suit les modèles de vente antérieurs des propriétés Vantage et qu'un contrat de vente est signé, le Partenariat prévoit que la vente aura lieu au 1er trimestre 2025. Cependant, la volatilité actuelle du marché pourrait influencer les délais et le prix final de vente. Le membre gestionnaire contrôle le processus de mise en vente et de vente, et le Partenariat aura droit à certains produits nets après la vente réussie, conformément à l'Accord d'Exploitation.
Greystone Housing Impact Investors LP (NYSE: GHI) hat bekannt gegeben, dass Vantage at Hutto, eine Immobilienanlage mit 288 Wohneinheiten im Marktsegment in Hutto, TX, öffentlich von Institutional Property Advisors Texas zum Verkauf angeboten wird. Die nicht kontrollierende Investition der Partnerschaft in die Immobilie, die im November 2020 begann, beläuft sich auf insgesamt 11,8 Millionen US-Dollar an Eigenkapitalbeiträgen. Der Bau wurde im Dezember 2023 abgeschlossen, und die Immobilie meldete eine physische Belegung von 89 % zum 31. August 2024.
Wenn der Listungsprozess den bisherigen Verkaufsmustern von Vantage-Immobilien folgt und ein Verkaufsvertrag abgeschlossen wird, erwartet die Partnerschaft, dass der Verkauf im 1. Quartal 2025 stattfinden wird. Die aktuelle Marktvolatilität könnte jedoch die Zeitplanung und den endgültigen Verkaufspreis beeinflussen. Das verwaltende Mitglied kontrolliert den Listungs- und Verkaufsprozess, und die Partnerschaft hat Anspruch auf einen bestimmten Nettogewinn nach erfolgreichem Abschluss des Verkaufs gemäß dem Betriebsvereinbarung.
- 89% physical occupancy reported as of August 31, 2024
- Potential sale expected in Q1 2025, if successful
- Partnership entitled to certain net proceeds upon successful sale completion
- Current market volatility may delay sale timing
- Potential negative impact on final sales price due to market conditions
- Non-controlling investment limits Partnership's control over sale process
Insights
The listing of Vantage at Hutto for sale marks a potential milestone in Greystone Housing Impact Investors LP's investment strategy. With an
The property's
Key points for investors to consider:
- The Partnership's non-controlling stake means influence over the sale process
- The expected Q1 2025 sale timeline aligns with typical investment horizons for such projects
- Current market conditions and their potential impact on multifamily real estate valuations will be important to monitor
OMAHA, Neb., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that Vantage at Hutto, a 288-unit market rate multifamily property located in Hutto, TX (the “Property”), has been publicly listed for sale by Institutional Property Advisors Texas at the direction of the Property-owning entity’s managing member. The Partnership’s non-controlling investment in the Property was originated in November 2020 and the Partnership has contributed equity totaling
Consistent with past Vantage property sales, the managing member controls the listing and sales process under the terms of the Property owning entity’s operating agreement (the “Operating Agreement”). The Partnership will be entitled to certain net proceeds upon the successful completion of a sale of the Property in accordance with the Operating Agreement.
About Greystone Housing Impact Investors LP
Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as 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 entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.
Safe Harbor Statement
Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership 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 urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
INVESTOR CONTACT:
Andy Grier
Senior Vice President
402-952-1235
MEDIA CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
FAQ
What is the current occupancy rate of Vantage at Hutto property owned by Greystone Housing Impact Investors LP (NYSE: GHI)?
When was the construction of Vantage at Hutto completed for Greystone Housing Impact Investors LP (NYSE: GHI)?
When does Greystone Housing Impact Investors LP (NYSE: GHI) expect the sale of Vantage at Hutto to occur?
How much equity has Greystone Housing Impact Investors LP (NYSE: GHI) contributed to the Vantage at Hutto property?
