Debt ManagementVariable-rate financing on fixed-rate assets represents only 2% of total debt, which is the result of swap agreements that essentially convert $417M of variable-rate debt to fixed rate.
Housing DemandDemand for affordable housing remains strong, and given its strong credit performance, GHI is well-positioned to take advantage of an attractive investment and lending environment.
Joint VenturesThe company recently entered into a new joint venture with BlackRock to provide construction financing on new LIHTC projects, and GHI closed the first two transactions in this JV in the fourth quarter.