Terrix Financial Services

Terrix Financial Corporation has arranged a $2,266,100 loan to finance the acquisition of an apartment complex in Colorado Springs, Colorado, which was built in 1984. The loan was nonrecourse. The interest rate was fixed for 10 years and amortized over 30 years.

The property has three 3-story apartment buildings containing 72 units, including some affordable housing units. Among the unit finishes are private entries, fireplaces, air conditioning, deck/patio, extra storage, washer/dryer, and ceiling fans. Some units have vaulted ceilings.

The property has a total of 62,816 net rentable square feet and it operates under a Land Use Agreement. Some of the community amenities are an outdoor heated pool, playground area, barbecue and picnic area and basketball court. The borrowers were out of state investors and the lender was Fannie Mae.

Terrix Financial Corporation has arranged a $2,500,000 loan secured by a 41,905 square foot single tenant industrial building located on West Technology Drive in Irvine, California.

The loan was amortized over 15 years with a fixed rate of 5.90%. The loan allows a step-down prepayment starting at 7% and a reduction of one-half percent per year. The borrower is a Colorado limited liability company and the lender is represented by Terrix Financial.

Terrix Financial Corporation has arranged a $3,450,000 loan to refinance an apartment complex located at 3625 South Verbena Street in Denver, Colorado. The interest rate is 5.00% with a 10-year loan term, to be adjusted after 5 years, and a 30 year amortization period.

The apartment complex was constructed in 1976 and have 82,271 net rentable square feet on a 3.77 acre site. One of the six garden level apartment buildings has 2 stories and the remaining five buildings have 3 stories. There are 8 units on each floor, with a total of 136 units in the complex. The borrower is a Colorado limited liability company, and the lender is a correspondent life insurance company.

Terrix Financial Corporation has arranged a $1,200,000 loan to facilitate the refinance of a 15,000 square foot office building in Boulder, Colorado. The borrower is a well established Boulder real estate professional and the loan was used to pay off maturing debt on the property.

A 25 year amortized, five year rate of 6.20% was provided. The lender provided a 90 day interest rate lock for no additional cost, guaranteeing the rate in a volatile marketplace.

Terrix Financial Corporation has arranged a $7,000,000 loan to refinance an older industrial property in central Denver, Colorado. The interest rate is 6.08% with a 10-year loan term, and a 25 year amortization period. The loan had a stepdown prepayment penalty.

The three building industrial complex was built from 1945 through 1952, and rehabbed in 1989. New rollup overhead doors were recently installed on the front of the buildings. There is 369,158 net rentable square feet on 12.9 acres. The lender is a correspondent life insurance company represented by Terrix Financial.

Terrix Financial Corporation has arranged a loan of $1,150,000 secured by a 4-story apartment complex in Denver. The loan term is for 10 years with a fixed interest rate of 6.375% and a 25 year amortization period. The prepay is a stepdown arrangement.

The elevatored apartment building was built in 1958. All of the 37 units are studio apartments. It has 18,500 net rentable square feet and is 97% occupied. The borrower is a local real estate investor who has owned the property for about 10 years.

Terrix Financial Corporation has arranged a $1,550,000 loan to refinance a multi-tenant office property located in Littleton, Colorado. Built in 2000, there are two stories and an elevator on a 1.298 acre site. The office building is part of the South Park planned development project, which encompasses 4.98 acres, including residential and mixed-use development

Financing terms for the 16,350 square foot office included a 10 year loan term and a 25 year amortization. The interest rate of 7.00% is fixed for 5 years. The building was 22% vacant at the time of closing. The loan proceeds will be used to pay down an existing loan with $200,000 to be available within six months of closing, when the building is fully leased. The borrower is an out of town real estate investor and the lender is a local institution.

Terrix Financial Corporation has arranged a $1,155,000 loan to refinance an owner user office warehouse in Golden, Colorado. It was built in 1997 on 1.3 acres and contains 18,775 net rentable square feet. The building has dock high and grade level doors on the west side and a 21 foot clearance in the warehouse. There are skylights, and a deck on the second level office area.

The loan was amortized over 25 years with a rate of 6.85% fixed for 5 years. The loan proceeds were used to pay off an existing loan with cash out for business expansion. The lender was a local banking institution.

Terrix Financial Corporation has arranged a $5,440,000 loan secured by a 41,385 square foot apartment building in Los Angeles, California. The nonrecourse loan was amortized over 30 years with a rate of 5.75% for 10 years and had a 80% loan to value. The loan proceeds were used towards paying off the existing loan.

The three-story U-shaped apartment complex has 56 units and was built in 1985. Among the amenities are on-site laundry, gated parking, a courtyard and spa. Numerous renovations and repairs have been made to the units. The project was 93% occupied at the time of closing. The borrower, a California real estate investment fund, has had other apartments financed through Terrix Financial. The lender is a well established Fannie Mae and Freddie Mac provider, which won the deal in a very competitive bidding process.

Terrix Financial Corporation has arranged a $2,100,000 loan to refinance a 600-unit self-storage property in Denver, Colorado. The 160,000 square foot site is improved with over 20 buildings. There is a total of 73,400 rentable square feet which include a manager’s office, and 5,400 square feet of RV storage.

The self storage property was built in 1984 and has 482 outdoor units and 135 indoor units. An iron gate, fencing, electronic rolling gate and keypad entry make up the site security. The borrower is a Denver LLC and the lender is a regional banking institution. The self storage property was estimated to be 80% occupied at the time of closing.

Terrix Financial Corporation arranged a refinance loan of $5,000,000 for a medical office building located in Pueblo, Colorado. The rate of 6.25% is fixed for 10 years with a flexible prepayment, with a 25-year amortization.

The Medical Center is a satellite/outpatient office complementing the nearby hospital five miles south of the subject. The medical office contains 58,451 square feet on 5.7 acres of land and is fully leased to Centura Health Corporation. The borrower is a family trust and the lender is a local banking institution.

Terrix Financial Corporation has arranged refinancing in the amount of $7,900,000 for a nine-building apartment complex, located out of state. The 136-unit apartments were constructed in 1987.

The loan is non recourse and was funded through a DUS lender under a Fannie Mae program. Financing terms included a 10-year fixed rate term with an interest rate of 5.96% and a 30 year amortization period. The borrower is an out of state limited partnership.

Terrix Financial Corporation has arranged a $1,850,000 loan secured by a 14,873 square foot retail center in Parker, Colorado. The loan was amortized over 25 years with a rate of 7.05% fixed for 3 years.

The single story multi-tenant retail property was built in 1999 and is fully occupied with a mix of medical, retail, service, and office tenants. The borrower is a family owned limited liability company and the lender is a local banking institution. The loan proceeds were used to payoff a ballooning conduit loan.

Terrix Financial Corporation has arranged a $3,700,000 loan on a retail center located in Lone Tree, Colorado. The interest rate is 5.70% with a 14-year loan term, to be adjusted after 7 years, and a 25 year amortization period.

The one-story strip retail is fully occupied with 4 tenants. It was constructed in 2001 and has 13,825 net rentable square feet on a 1.26 acre-site. The borrower is a limited liability corporation, and the lender is a correspondent life insurance company.

Terrix Financial Corporation has arranged a $2,600,000 loan to refinance a multi building retail center located in Pueblo, Colorado. The loan was amortized over 25 years with a rate of 6.625% fixed for 10 years. The loan proceeds were used to pay off the existing loan.

The retail property was 96% occupied at the date of the closing, and contains 70,000 plus square feet on nine acres. The borrowers are experienced real estate investors.