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Greystone Housing Impact Investors LP,(GHI) a prominent real estate investment firm, recently released its condensed consolidated financial statements for the first quarter of 2023. The report highlights the company's financial performance, showcasing a net income of $16.8 million during the period. Additionally, the firm achieved revenue of $24.9 million in Q1 2023, demonstrating its robust performance amid the prevailing economic conditions.
Net Income/Loss
Greystone Housing Impact Investors LP reported a net income of $16.8 million for the three months ended March 31, 2023. This marked an impressive achievement for the firm and reflected its successful investment strategies and prudent financial management.
The net income figure is a crucial indicator of the company's profitability, showing its ability to generate income from its various business activities, including investment income, property revenues, and other interest income.
Revenue
In Q1 2023, Greystone Housing Impact Investors LP recorded total revenues of $24.9 million. This significant revenue figure was driven by various sources, including investment income amounting to $19.3 million, property revenues contributing $1.2 million, and other interest income totaling $4.4 million.
The revenue generated by the company reflects the success of its investment portfolio, property holdings, and interest-generating activities. It indicates the firm's efficiency in utilizing its assets and investment strategies to generate substantial income during the given period.
Financial Performance Overview
The financial statements of Greystone Housing Impact Investors LP for the first quarter of 2023 revealed a strong performance across various areas. With a net income of $16.8 million and revenue of $24.9 million, the company showcased its ability to generate sustainable returns for its investors.
The firm's financial strength is further demonstrated by its total assets, amounting to $1.63 billion as of March 31, 2023. These assets encompass cash and cash equivalents, restricted cash, mortgage revenue bonds, property loans, investments in unconsolidated entities, and real estate assets.
Greystone Housing Impact Investors LP continues to manage its liabilities prudently, with a total of $1.19 billion as of the same date. These liabilities include accounts payable, distribution payable, secured lines of credit, debt financing, mortgages payable, and other secured financing.
The company's partners' capital, including the General Partner and Beneficial Unit Certificates (BUCs) holders, reached $344.1 million, reflecting the positive contribution of the partnership's stakeholders to the firm's financial position.
Overall, Greystone Housing Impact Investors LP's first-quarter performance underscores its commitment to delivering strong results and value to its investors while maintaining financial stability and growth prospects.