Greystone Housing Impact Investors LP 2025年度报告

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromtoCommission File Number: 001-41564 GREYSTONE HOUSING IMPACT INVESTORS LP (Exact name of registrant as specified in its charter) Delaware47-0810385(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)14301 FNB Parkway, Suite 211, Omaha, Nebraska68154(Address of principal executive offices)(Zip Code)(402) 952-1235(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.YES☐NO☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.YES☐NO☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days.YES☒NO☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of the chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).YES☒NO☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or emerging growth company.See definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☒Smaller reporting company☐Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by checkmark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) bythe registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YES☐NO☒ The aggregate market value of the registrant’s BUCs held by non-affiliates based on the final sales price of the BUCs on the lastbusiness day of the registrant’s most recently completed second fiscal quarter was $266,953,368. DOCUMENTS INCORPORATED BY REFERENCE None INDEX PART I Item 1BusinessItem 1ARisk FactorsItem 1BUnresolved Staff CommentsItem 1CCybersecurityItem 2PropertiesItem 3Legal ProceedingsItem 4Mine Safety Disclosures PART II Item 5Market for Registrant’s Common Equity, Related Security Holder Matters and Issuer Purchases of EquitySecurities45Item 6[Reserved]Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations47Item 7AQuantitative and Qualitative Disclosures About Market Risk83Item 8Financial Statements and Supplementary Data87Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure161Item 9AControls and Procedures161Item 9BOther Information162Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections162 Item 10Directors, Executive Officers and Corporate Governance163Item 11Executive Compensation166Item 12Security Ownership of Certain Beneficial Owners and Management and Related Security Holder Matters170Item 13Certain Relationships and Related Transactions, and Director Independence171Item 14Principal Accountant Fees and Services172 PART IV Defined Terms The following acronyms and defined terms are used in various sections of this Report, including the Notes to ConsolidatedFinancial Statements in Item 8 and Management’s Discussion and Analysis of Financial Condition and Results of Operations inItem 7. All references to “we,” “us,” “our”