XML 78 R44.htm IDEA: XBRL DOCUMENT
v3.22.4

Property Loans, Net (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Property Loans Net Of Loan Loss Allowance [Abstract] |
Summary of Partnership's Property Loans, Net of Loan Loss Allowances | The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of December 31, 2022 and 2021:
|  | December 31, 2022 |  |  |  |  |  |
|  | Outstanding Balance |  |  | Loan Loss Allowance |  |  | Property Loan Principal, net of allowance |  |  | Maturity Date |  | Interest Rate |
Senior Construction Financing (1) |  |  |  |  |  |  |  |  |  |  |  |
Centennial Crossings |  | $ | 24,250,000 |  |  | $ | - |  |  | $ | 24,250,000 |  |  | 9/1/2023 |  | LIBOR + 2.50% |
Hilltop at Signal Hills |  |  | 19,718,334 |  |  |  | - |  |  |  | 19,718,334 |  |  | 8/1/2023 |  | SOFR + 3.07% |
Legacy Commons at Signal Hills |  |  | 29,666,905 |  |  |  | - |  |  |  | 29,666,905 |  |  | 2/1/2024 |  | SOFR + 3.07% |
Magnolia Heights |  |  | 6,188,601 |  |  |  | - |  |  |  | 6,188,601 |  |  | 7/1/2024 |  | SOFR + 3.85% |
Oasis at Twin Lakes |  |  | 24,018,657 |  |  |  | - |  |  |  | 24,018,657 |  |  | 8/1/2023 |  | LIBOR + 2.50% |
Osprey Village |  |  | 1,000,000 |  |  |  | - |  |  |  | 1,000,000 |  |  | 8/1/2024 |  | SOFR + 3.07% |
Scharbauer Flats Apartments |  |  | 24,160,000 |  |  |  | - |  |  |  | 24,160,000 |  |  | 7/1/2023 |  | LIBOR + 2.85% |
Willow Place Apartments |  |  | 1,000,000 |  |  |  | - |  |  |  | 1,000,000 |  |  | 10/1/2024 |  | SOFR + 3.30% |
Subtotal |  |  | 130,002,497 |  |  |  | - |  |  |  | 130,002,497 |  |  |  |  |  |
Mezzanine Financing |  |  |  |  |  |  |  |  |  |  |  |  |  |
SoLa Impact Opportunity Zone Fund |  | $ | 39,000,000 |  |  | $ | - |  |  | $ | 39,000,000 |  |  | 12/30/2024 |  | 7.875% |
Subtotal |  |  | 39,000,000 |  |  |  | - |  |  |  | 39,000,000 |  |  |  |  |  |
Other |  |  |  |  |  |  |  |  |  |  |  |
The 50/50 MF Property |  | $ | 4,803,620 |  |  | $ | - |  |  | $ | 4,803,620 |  |  | 3/11/2048 |  | 9.00% |
Avistar (February 2013 portfolio) |  |  | 201,972 |  |  |  | - |  |  |  | 201,972 |  |  | 6/26/2024 |  | 12.00% |
Avistar (June 2013 portfolio) |  |  | 251,622 |  |  |  | - |  |  |  | 251,622 |  |  | 6/26/2024 |  | 12.00% |
Greens Property |  |  | 850,000 |  |  |  | - |  |  |  | 850,000 |  |  | 9/1/2046 |  | 10.00% |
Live 929 Apartments |  |  | 495,000 |  |  |  | (495,000 | ) |  |  | - |  |  | 7/31/2049 |  | 8.00% |
Subtotal |  |  | 6,602,214 |  |  |  | (495,000 | ) |  |  | 6,107,214 |  |  |  |  |  |
Total |  | $ | 175,604,711 |  |  | $ | (495,000 | ) |  | $ | 175,109,711 |  |  |  |  |  |
(1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0% to 0.50%.
|  | December 31, 2021 |  |  |  |  |  |
|  | Outstanding Balance |  |  | Loan Loss Allowance |  |  | Property Loan Principal, net of allowance |  |  | Maturity Date |  | Interest Rate |
Senior Construction Financing (1) |  |  |  |  |  |  |  |  |  |  |  |
Centennial Crossings |  | $ | 11,354,386 |  |  | $ | - |  |  | $ | 11,354,386 |  |  | 9/1/2023 |  | LIBOR + 2.50% |
Hilltop at Signal Hills |  |  | 1,000,000 |  |  |  | - |  |  |  | 1,000,000 |  |  | 8/1/2023 |  | SOFR + 3.07% |
Legacy Commons at Signal Hills |  |  | 2,604,230 |  |  |  | - |  |  |  | 2,604,230 |  |  | 2/1/2024 |  | SOFR + 3.07% |
Oasis at Twin Lakes |  |  | 20,607,362 |  |  |  | - |  |  |  | 20,607,362 |  |  | 8/1/2023 |  | LIBOR + 2.50% |
Osprey Village |  |  | 1,000,000 |  |  |  | - |  |  |  | 1,000,000 |  |  | 8/1/2024 |  | SOFR + 3.07% |
Scharbauer Flats Apartments |  |  | 9,708,598 |  |  |  | - |  |  |  | 9,708,598 |  |  | 1/1/2023 |  | LIBOR + 2.85% |
Willow Place Apartments |  |  | 1,000,000 |  |  |  | - |  |  |  | 1,000,000 |  |  | 10/1/2024 |  | SOFR + 3.30% |
Subtotal |  |  | 47,274,576 |  |  |  | - |  |  |  | 47,274,576 |  |  |  |  |  |
Senior Acquisition Financing |  |  |  |  |  |  |  |  |  |  |  |
Magnolia Crossing |  | $ | 13,424,579 |  |  | $ | - |  |  | $ | 13,424,579 |  |  | 12/1/2022 |  | SOFR + 6.50% | (2)
Subtotal |  |  | 13,424,579 |  |  |  | - |  |  |  | 13,424,579 |  |  |  |  |  |
Other |  |  |  |  |  |  |  |  |  |  |  |
Avistar (February 2013 portfolio) |  | $ | 201,972 |  |  | $ | - |  |  | $ | 201,972 |  |  | 6/26/2024 |  | 12.00% |
Avistar (June 2013 portfolio) |  |  | 251,622 |  |  |  | - |  |  |  | 251,622 |  |  | 6/26/2024 |  | 12.00% |
Cross Creek |  |  | 11,101,887 |  |  |  | (7,393,814 | ) |  |  | 3,708,073 |  |  | 12/1/2025 |  | 6.15% |
Greens Property |  |  | 850,000 |  |  |  | - |  |  |  | 850,000 |  |  | 9/1/2046 |  | 10.00% |
Live 929 Apartments |  |  | 1,355,534 |  |  |  | (1,355,534 | ) |  |  | - |  |  | 7/31/2049 |  | 8.00% |
Ohio Properties |  |  | 2,390,446 |  |  |  | - |  |  |  | 2,390,446 |  |  | 12/1/2026 - 6/1/2050 |  | 10.00% |
Subtotal |  |  | 16,151,461 |  |  |  | (8,749,348 | ) |  |  | 7,402,113 |  |  |  |  |  |
Total |  | $ | 76,850,616 |  |  | $ | (8,749,348 | ) |  | $ | 68,101,268 |  |  |  |  |  |
(1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0% to 0.50%. (2) The index is subject to a floor of 0.25%.
Summary of Changes in Partnership's Allowance for Credit Losses | The following table summarizes the changes in the Partnership’s loan loss allowance for the years ended December 31, 2022 and 2021:
|  |  | For the Years Ended December 31, |
|  |  | 2022 |  |  | 2021 |
Balance, beginning of period |  |  | $ | 8,749,348 |  |  | $ | 8,305,046 |
Provision for loan loss |  |  |  | - |  |  | $ | 444,302 |
Write-off (1) |  |  |  | (7,393,815 | ) |  |  |
Other reductions (2) |  |  |  | (860,533 | ) |  |  | - |
Balance, end of period |  |  | $ | 495,000 |  |  | $ | 8,749,348 |
(1) The loan loss allowance write-off for the year ended December 31, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022. (2) The reduction in the loan loss allowance for the year ended December 31, 2022 is due to a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

X
- Definition Allowance for credit loss on financing receivables. + References No definition available. + Details
Name: | ghi_AllowanceForCreditLossOnFinancingReceivablesTableTextBlock
Namespace Prefix: | ghi_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Property loans, net of loan loss allowance. + References No definition available. + Details
Name: | ghi_PropertyLoansNetOfLoanLossAllowanceAbstract
Namespace Prefix: | ghi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration