GHI 8-K
Greystone Housing Impact Investors LP (GHI)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
First Amendment to Loan Agreement
On February 27, 2026, GHI South Carolina Holdings LLC, GHI South Carolina Century Plaza LLC, GHI South Carolina Sondrio LLC, GHI South Carolina Vietti LLC, and GHI South Carolina Windsor LLC (collectively, the “Borrower”), all of which are subsidiaries of Greystone Housing Impact Investors LP (the “Partnership”), entered into a First Amendment to Loan Agreement (the “First Amendment”) with the administrative agent, BankUnited, N.A (as “Administrative Agent”), which modifies certain provisions of the original Loan Agreement dated December 31, 2025 (the “Loan Agreement,” and as amended by the First Amendment, the “Amended Loan Agreement”). In connection with the First Amendment, 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.
The following items are the material amendments to the Loan Agreement accomplished by the First Amendment. Capitalized terms not defined herein are defined in the Amended Loan Agreement.
The First Amendment also confirms that additional loan principal of $42,000,000 has been advanced to the Borrower; an acknowledgement by the Borrower that the Post-Closing Properties (later defined), including related mortgages, assignments, and pledges, are incorporated in the Amended Loan Agreement; that the Borrower confirms all security interests and liens for the benefit of the Lenders; reaffirmation of guaranties by the respective guarantors; and ratification of the terms of the original Loan Agreement to the extent such terms are not changed by the First Amendment.
The Borrower received additional principal proceeds totaling $42,000,000 that were used to finance the acquisition of Windsor Shores Apartments, a 176-unit multifamily property in Columbia, SC, and Century Plaza Apartments (formerly known as The Ivy Apartments), a 212-unit multifamily property in Greenville, SC (collectively, the “Post-Closing Properties”). Windsor Shores Apartments and Century Plaza Apartments were previously owned by different non-profit entities and served as collateral for mortgage revenue bond investments held by the Partnership. The non-profit owners acquired the properties in early 2023, and the properties underwent rehabilitation and converted from market rate operations under previous ownership to rent-restricted affordable properties. The rehabilitation was completed, but the properties were unable to achieve operating results at levels required under the mortgage revenue bond documents, which resulted in events of default in February 2026. The Partnership, pursuant to its rights and remedies under the mortgage revenue bond documents, exercised its rights to acquire the Post-Closing Properties via deed in lieu of foreclosure on February 27, 2026.
The Borrower’s obligations under the Amended Loan Agreement are secured by collateral consisting of: (i) pledges of ownership interests of the various entities of Borrower; (ii) mortgages, assignments of leases and rents, and related documents and assignments for the Closing Date Properties and Post-Closing Properties; and (iii) all swap agreements hedging the floating interest rate of the Notes (collectively, the “Collateral”).
The Notes bears interest at an annual rate equal to the sum of one-month Term SOFR (as defined in the Loan Agreement) plus 2.75%, resetting monthly, with interest due the fifteenth day of each month. If an event of default has occurred and is continuing, the Notes will bear interest at the lesser of (i) a default rate that is 5% higher than the rate which would otherwise be applicable to the Notes, or (ii) the highest amount permitted by applicable law. The Amended Loan Agreement contains various customary terms for determining an alternative index rate in the event Term SOFR is undeterminable or otherwise unavailable. In addition, the Partnership may be required to make payments to cover increasing costs to the Lenders related to the Notes due to changes in law, as determined by the Lenders on a reasonable basis. The Borrower executed two swap agreements to hedge the floating interest rate of the Notes, which aggregate to the principal amount of $84,000,000.
The foregoing descriptions of the First Amendment and Notes are a summary and are qualified in their entirety by reference to the full text of the First Amendment and Notes, copies of which are attached as Exhibits 10.1, 10.2, and 10.3 to this Current Report on Form 8-K, respectively, and are incorporated by reference herein.
In addition, the full text of the Loan Agreement, which was attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Partnership with the Securities and Exchange Commission (“SEC”) on January 7, 2026, is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 above is incorporated by reference into this Item 2.03.
Forward-Looking Statements
Information contained in this Current Report on Form 8-K contains “forward-looking statements,” including but not limited to statements related to the Loan Agreement, the First Amendment, and the notes, 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 fluctuations in short-term interest rates, collateral valuations, bond investment valuations, current maturities of our financing arrangements and our ability to renew or refinance such maturities, 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 its Annual Report on Form 10-K for the year ended December 31, 2024. 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.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits.
Exhibit Number |
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Description |
10.1 |
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First Amendment to Loan Agreement dated February 27, 2026 between Borrower and BankUnited, N.A. |
10.2 |
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Promissory Note dated February 27, 2026 between Borrower and payable to BankUnited, N.A. |
10.3 |
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Promissory Note dated February 27, 2026 between Borrower and payable to ServisFirst Bank. |
10.4 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
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Greystone Housing Impact Investors LP |
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Date: |
March 5, 2026 |
By: |
/s/ Jesse A. Coury |
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Printed: Jesse A. Coury |
Exhibit 10.1
First Amendment TO Loan Agreement
THIS FIRST AMENDMENT TO LOAN AGREEMENT (this “Amendment”) dated as of February 27, 2026, is entered into by and among GHI SOUTH CAROLINA HOLDINGS LLC, a Delaware limited liability company, GHI SOUTH CAROLINA CENTURY PLAZA LLC, a Delaware limited liability company, GHI SOUTH CAROLINA SONDRIO LLC, a Delaware limited liability company, GHI SOUTH CAROLINA VIETTI LLC, a Delaware limited liability company and GHI SOUTH CAROLINA WINDSOR LLC, a Delaware limited liability company, each having an address at 14301 FNB Parkway, Suite 211, Omaha, Nebraska 68154, (individually and collectively, as the context shall require, together with their permitted successors and assigns, “Borrower”), the Lenders party thereto (“Lenders”), and BANKUNITED, N.A., a national banking association, as Administrative Agent (“Agent”), and acknowledged and agreed to by GREYSTONE HOUSING IMPACT INVESTORS LP, a Delaware limited partnership, and GREYSTONE SELECT INCORPORATED, a Delaware corporation, as guarantors (each, a “Guarantor”).
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BACKGROUND
A. Borrower, Agent and Lenders are parties to a certain Loan Agreement dated as of December 31, 2025 (as the same may be amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”), pursuant to which Borrower established certain financing arrangements with Lenders. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Loan Agreement.
B. Borrower has requested that Agent and Lenders amend certain of the terms and conditions of the Loan Documents and Agent and Lenders have so consented, in each case, subject to the terms and conditions hereof.
NOW, THEREFORE, with the foregoing Background hereinafter deemed incorporated by reference herein and made a part hereof, the parties hereto, intending to be legally bound, promise and agree as follows:
Debt Service: with respect to any particular period, Principal and interest payments which would have been payable during the applicable period for such period being tested if the Principal Amount was amortizing over a 30-year amortization period. For the avoidance of doubt, the foregoing interest payments shall be based on the average rate of the then-applicable swapped Interest Rate of the Initial Advance Amount and the then-applicable swapped Interest Rate of the Future Advance Amount.
Net Operating Income: shall mean rental collections received by Borrower less operating expenses incurred by Borrower, such expenses to include management fees and a replacement reserve equal to the Administrative Agent’s underwritten replacement reserve amount of $250/unit per year.
Post-Closing Pledgors: shall mean (i) Century Plaza Managing Member LLC, a Delaware limited liability company, and (ii) Momentum Windsor MM LLC, a South Carolina limited liability company.
(d) on the Maturity Date Borrower shall demonstrate (i) a minimum Debt Service Coverage Ratio of at least 1.2:1.00, and (ii) a Loan-To-Value Ratio (based on the “as is” value of the Property) of not more than 65%; provided that if either of the foregoing tests are not satisfied, Borrower may prepay a portion of the unpaid Principal required to satisfy such tests;
(a) Debt Service Coverage Ratio. As of February 15, 2027, Borrower shall demonstrate a minimum Debt Service Coverage Ratio for the trailing 3-month period of not less than 1.00:1.00 (the “Initial DSCR”). As of June 30, 2027, Borrower shall demonstrate a minimum Debt Service Coverage Ratio for the trailing three-month period of not less than 1.05:1.00 (the “Remainder DSCR”). If Borrower fails to meet the Initial DSCR or the Remainder DSCR, in each case as of the date tested, then Borrower shall, within thirty (30) days of receipt by Borrower of written notice by Administrative Agent of such failure, either (i) make a mandatory partial prepayment of the Loan, (ii) post cash with Administrative Agent (for the benefit of the Lenders) as additional collateral for the Loan in lieu of a partial repayment of the Loan, or (iii) post with Administrative Agent (for the benefit of the Lenders) a letter of credit from a
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bank acceptable to Administrative Agent as additional collateral for the Loan in lieu of a partial repayment of the Loan, in each case, in an amount sufficient to satisfy the applicable Debt Service Coverage Ratio test. If Borrower elects to satisfy the applicable Debt Service Coverage Ratio test pursuant to clauses (ii) or (iii) immediately above, such cash collateral or letter of credit will no longer be required to be maintained by Administrative Agent following satisfaction of the required Debt Service Coverage Ratio for three (3) consecutive months and all cash collateral in the applicable cash collateral account will be promptly disbursed to Borrower and any letter of credit will be promptly returned to Borrower. Notwithstanding the foregoing, for the avoidance of doubt, neither the cash collateral nor letter of credit shall be included in the calculation of Debt Service Coverage Ratio for the purpose of determining whether such cash collateral or letter of credit shall be released by Administrative Agent.
5.36.1 On or before March 31, 2026, Borrower shall perform or cause to be performed all acts reasonably necessary to remediate and remove the mold in units 1050-G, 1065-N and 1065-H of the Vietti Property, and shall deliver to Administrative Agent appropriate documentation evidencing such remediation and removal, in form and substance satisfactory to Administrative Agent in all respects.
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[SIGNATURE PAGES FOLLOW]
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Exhibit 10.1
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date set forth above.
BORROWER:
GHI SOUTH CAROLINA HOLDINGS LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, its sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA CENTURY PLAZA LLC, a Delaware limited liability company
By: GHI South Carolina Holdings LLC, a Delaware limited liability company, its authorized delegee
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, its sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA SONDRIO LLC, a Delaware limited liability company
By: GHI South Carolina Holdings LLC, a Delaware limited liability company, its authorized delegee
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, its sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
Signature Page to First Amendment to Loan Agreement - Borrowers
GHI SOUTH CAROLINA VIETTI LLC, a Delaware limited liability company
By: GHI South Carolina Holdings LLC, a Delaware limited liability company, its authorized delegee
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, its sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA WINDSOR LLC, a Delaware limited liability company
By: GHI South Carolina Holdings LLC, a Delaware limited liability company, its authorized delegee
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, its sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
Signature Page to First Amendment to Loan Agreement - Borrowers
Exhibit 10.1
Acknowledged and Agreed:
GREYSTONE HOUSING IMPACT INVESTORS, LP, a Delaware limited partnership
By: /s/ Jesse Coury
Name: Jesse Coury
Title: Chief Financial Officer
GREYSTONE SELECT INCORPORATED, a Delaware corporation
By: /s/ Jay Saffran
Name: Jay Saffran
Title: Vice President
Signature Page to First Amendment to Loan Agreement - Guarantors
Exhibit 10.1
ADMINISTRATIVE AGENT:
BANKUNITED, N.A., a national banking association
By: /s/ Adrienne M. Horkley
Name: Adrienne M. Horkley
Title: Vice President
Signature Page to First Amendment to Loan Agreement – Administrative Agent
LENDERS:
BANKUNITED, N.A., a national banking association
By :/s/ Adrienne M. Horkley
Name: Adrienne M. Horkley
Title: Vice President
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Signature Page to First Amendment to Loan Agreement – Lender
SERVISFIRST BANK
By: /s/ Harrison Morris
Name: Harrison Morris
Title: Regional President & CEO South Alabama
Signature Page to First Amendment to Loan Agreement
Schedule 6
Commitments and Proportionate Shares
LENDER |
PROPORTIONATE SHARE |
COMMITMENT |
BankUnited, N.A. |
50% |
$42,000,000.00 |
ServisFirst Bank |
50% |
$42,000,000.00 |
Totals |
100.000000000% |
$84,000,000.00 |
Effective Date: February 27, 2026
Exhibit 10.2
THIS NOTE (AS DEFINED BELOW) IS BEING SEVERED FROM that certain promissory note, dated as of DECEMBER 31, 2025, issued by borrower in favor of BANKUNITED, N.A. (“BANKUNITED”) in the amount of EIGHTY-FOUR million and no/100 dollars ($84,000,000.00) (the “original note”), AND PURSUANT TO THAT CERTAIN ASSIGNMENT AND ASSUMPTION FROM BANKUNITED TO SERVISFIRST BANK (“SERVISFIRST”), BANKUNITED IS ASSIGNING FORTY-TWO MILLION AND NO/100 DOLLARS ($42,000,000.00) OF THE ORIGINAL NOTE, TOGETHER WITH A CORRESPONDING INTEREST IN THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS RELATED THERETO FROM BANKUNITED TO SERVISFIRST. accordingly, the original note is not being satisfied BUT THE INDEBTEDNESS EVIDENCED BY THE ORIGINAL NOTE SHALL REMAIN IN FULL FORCE AND EFFECT, AND NOTHING CONTAINED HEREIN SHALL BE INTERPRETED OR CONSTRUED AS RESULTING IN A NOVATION OF SUCH INDEBTEDNESS. the INDEBTEDNESS EVIDENCED THEREBY IS BEING AMENDED, RESTATED AND REPLACED BY, AND SEVERED INTO TWO (2) NOTES: (1) THIS NOTE IN THE AMOUNT OF $42,000,000.00 IN FAVOR OF bankunited; AND (2) A NOTE IN THE AMOUNT OF $42,000,000.00 IN FAVOR OF SERVISFIRST. THE COLLATERAL GIVEN TO SECURE THE ORIGINAL NOTE SHALL CONTINUE TO SECURE THE INDEBTEDNESS EVIDENCED THEREBY AND AS SET FORTH HEREIN.
PROMISSORY NOTE
$42,000,000.00 |
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February 27, 2026 |
FOR VALUE RECEIVED, GHI SOUTH CAROLINA HOLDINGS LLC, a Delaware limited liability company, GHI SOUTH CAROLINA CENTURY PLAZA LLC, a Delaware limited liability company, GHI SOUTH CAROLINA SONDRIO LLC, a Delaware limited liability company, GHI SOUTH CAROLINA VIETTI LLC, a Delaware limited liability company and GHI SOUTH CAROLINA WINDSOR LLC, a Delaware limited liability company, each having an address at 14301 FNB Parkway, Suite 211, Omaha, Nebraska 68154, (individually and collectively, as the context shall require, together with their permitted successors and assigns, “Maker”), hereby jointly and severally promise to pay to BANKUNITED, N.A., a national banking association (together with its successors and assigns, “Payee”), at such place as the Administrative Agent referenced below may from time to time designate in writing, the principal sum of FORTY-TWO MILLION AND NO/100 DOLLARS ($42,000,000.00), in lawful money of the United States of America and in immediately available funds, on the dates and in the amounts provided for herein and in the Loan Agreement (as defined below), and to pay interest on the unpaid principal balance from time to time outstanding to be computed in the manner, at the times and, subject to Section 2.2 of the Loan Agreement, at the Interest Rate and on the dates provided therein.
This Promissory Note (this “Note”) is one of the Notes referred to in that certain Loan Agreement (as amended, modified, restated, consolidated, replaced or supplemented from time to time, the “Loan Agreement”), dated as of December 31, 2025,
among Maker, as borrower, the lenders party thereto (including Payee) (collectively, the “Lenders”), and BankUnited, N.A., as administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Administrative Agent”). This Note evidences indebtedness of Maker to Payee and is executed pursuant to the terms and conditions of the Loan Agreement. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Loan Agreement.
1. Payment Terms. Maker shall pay to Administrative Agent on behalf of Payee the monthly interest on the unpaid Principal and required principal payments in the manner and at the times specified in Article 2 of the Loan Agreement, which payments shall be applied in the order of priority set forth in said Article 2. Maker shall also pay to Administrative Agent on behalf of Payee interest at the Default Rate, Late Payment Charges, if any, and all other amounts due and payable as and when provided for in the Loan Documents. The balance of the Principal, together with all accrued and unpaid interest thereon, and all other amounts payable to Payee hereunder, under the Loan Agreement and under the other Loan Documents shall be due and payable on the Maturity Date, as the same may be extended pursuant to the Loan Agreement.
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IN WITNESS WHEREOF, Maker has duly executed this Note as of the day and year first written above.
MAKER:
GHI SOUTH CAROLINA HOLDINGS LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA CENTURY PLAZA LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA SONDRIO LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
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GHI SOUTH CAROLINA VIETTI LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA WINDSOR LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
Signature Page to Promissory Note
Exhibit 10.3
THIS NOTE (AS DEFINED BELOW) IS BEING SEVERED FROM that certain promissory note, dated as of DECEMBER 31, 2025, issued by borrower in favor of BANKUNITED, N.A. (“BANKUNITED”) in the amount of EIGHTY-FOUR million and no/100 dollars ($84,000,000.00) (the “original note”), AND PURSUANT TO THAT CERTAIN ASSIGNMENT AND ASSUMPTION FROM BANKUNITED TO SERVISFIRST BANK (“SERVISFIRST”), BANKUNITED IS ASSIGNING FORTY-TWO MILLION AND NO/100 DOLLARS ($42,000,000.00) OF THE ORIGINAL NOTE, TOGETHER WITH A CORRESPONDING INTEREST IN THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS RELATED THERETO FROM BANKUNITED TO SERVISFIRST. accordingly, the original note is not being satisfied BUT THE INDEBTEDNESS EVIDENCED BY THE ORIGINAL NOTE SHALL REMAIN IN FULL FORCE AND EFFECT, AND NOTHING CONTAINED HEREIN SHALL BE INTERPRETED OR CONSTRUED AS RESULTING IN A NOVATION OF SUCH INDEBTEDNESS. the INDEBTEDNESS EVIDENCED THEREBY IS BEING AMENDED, RESTATED AND REPLACED BY, AND SEVERED INTO, TWO (2) NOTES: (1) THIS NOTE IN THE AMOUNT OF $42,000,000.00 IN FAVOR OF SERVISFIRST; AND (2) A NOTE IN THE AMOUNT OF $42,000,000.00 IN FAVOR OF bankunited. THE COLLATERAL GIVEN TO SECURE THE ORIGINAL NOTE SHALL CONTINUE TO SECURE THE INDEBTEDNESS EVIDENCED THEREBY AND AS SET FORTH HEREIN.
PROMISSORY NOTE
$42,000,000.00 |
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February 27, 2026 |
FOR VALUE RECEIVED, GHI SOUTH CAROLINA HOLDINGS LLC, a Delaware limited liability company, GHI SOUTH CAROLINA CENTURY PLAZA LLC, a Delaware limited liability company, GHI SOUTH CAROLINA SONDRIO LLC, a Delaware limited liability company, GHI SOUTH CAROLINA VIETTI LLC, a Delaware limited liability company and GHI SOUTH CAROLINA WINDSOR LLC, a Delaware limited liability company, each having an address at 14301 FNB Parkway, Suite 211, Omaha, Nebraska 68154, (individually and collectively, as the context shall require, together with their permitted successors and assigns, “Maker”), hereby jointly and severally promise to pay to SERVISFIRST BANK (together with its successors and assigns, “Payee”), at such place as the Administrative Agent referenced below may from time to time designate in writing, the principal sum of FORTY-TWO MILLION AND NO/100 DOLLARS ($42,000,000.00), in lawful money of the United States of America and in immediately available funds, on the dates and in the amounts provided for herein and in the Loan Agreement (as defined below), and to pay interest on the unpaid principal balance from time to time outstanding to be computed in the manner, at the times and, subject to Section 2.2 of the Loan Agreement, at the Interest Rate and on the dates provided therein.
This Promissory Note (this “Note”) is one of the Notes referred to in that certain Loan Agreement (as amended, modified, restated, consolidated, replaced or supplemented from time to time, the “Loan Agreement”), dated as of December 31, 2025, among Maker, as borrower, the lenders party thereto (including Payee) (collectively, the
“Lenders”), and BankUnited, N.A., as administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Administrative Agent”). This Note evidences indebtedness of Maker to Payee and is executed pursuant to the terms and conditions of the Loan Agreement. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Loan Agreement.
1. Payment Terms. Maker shall pay to Administrative Agent on behalf of Payee the monthly interest on the unpaid Principal and required principal payments in the manner and at the times specified in Article 2 of the Loan Agreement, which payments shall be applied in the order of priority set forth in said Article 2. Maker shall also pay to Administrative Agent on behalf of Payee interest at the Default Rate, Late Payment Charges, if any, and all other amounts due and payable as and when provided for in the Loan Documents. The balance of the Principal, together with all accrued and unpaid interest thereon, and all other amounts payable to Payee hereunder, under the Loan Agreement and under the other Loan Documents shall be due and payable on the Maturity Date, as the same may be extended pursuant to the Loan Agreement.
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IN WITNESS WHEREOF, Maker has duly executed this Note as of the day and year first written above.
MAKER:
GHI SOUTH CAROLINA HOLDINGS LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA CENTURY PLAZA LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA SONDRIO LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
Signature Page to Promissory Note
GHI SOUTH CAROLINA VIETTI LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
GHI SOUTH CAROLINA WINDSOR LLC, a Delaware limited liability company
By GHI South Carolina Holdings LLC, a Delaware limited liability company
By: Greystone Housing Impact Investors LP, a Delaware limited partnership, sole member
By: /s/ Jesse Coury
Jesse Coury, Chief Financial Officer
Signature Page to Promissory Note