ABOUT TERREX & TERRACORP

Our Mission: To create, operate and preserve the highest quality affordable housing communities through effective planning, financing, construction and management practices.

WHAT DO WE DO?
Terrex specializes in assisting owners of aging affordable housing with recapitalizing  and renovating their properties. Our sister company, TerraCorp, provides property management, tenant relocation and subsidy expertise to complement Terrex's finance and construction management services. 
 
WHY DO WE DO WHAT WE DO?
Availability of quality affordable housing is an issue which touches everyone. We see housing as a pathway to improving lives by providing a safe, comfortable environment to call home. Our properties enhance the lives of the residents who live in them, and their surrounding communities.


WHAT IS RECAPITALIZATION?
Though recapitalization typically involves new financing, it is not just a loan refinance. As an alternative to selling, recapitalization can raise significant additional capital through low income housing and energy tax credits, municipal bonds, grants, subsidies and other sources.
 
WHAT DOES IT COST?
Property renovations and improvements can be accomplished without out-of-pocket costs or giving up ownership control. Terrex can provide the necessary capital and expertise to perform due diligence, secure funding and manage construction to bring new life to old projects. Excess funds can be used for owner's other objectives such as paying staff, operations overhead and new project development.
 
 
 
WHY RECAPITALIZE & RENOVATE?
As properties age and the cost to maintain them increases, owners face many decisions on how to retain ownership while extending the lives of their communities.
 
Recapitalization proceeds can be reinvested into renovations and improvements, extending the life of your property for decades to come. By revitalizing your property, you can increase the quality of life for residents, reduce maintenance expenses, and preserve critically-needed affordable housing for the long-term.

WHO DO WE WORK WITH?
Terrex and TerraCorp assist non-profit and for-profit affordable housing sponsors in preserving existing multifamily properties and in creating new communities.
 
WHAT ARE THE CAPITAL SOURCES?
Terrex can fund all pre-recapitalization costs and navigate the way to obtaining a variety of financing, including:
 
  • Construction Financing
  • Low Income Housing Tax Credits (LIHTC)
  • Energy Tax Credits
  • Historic Rehab Credits
  • Tax Exempt Bonds
  • HOME Funds
  • FHLB Affordable Housing Program Loans
  • HUD, FNMA, FMAC, CalHFA and other Agency Loans
  • Conventional Bank Financing
  • Private Sources and Trust Funds