Integra's highly-trained team takes pride in structuring thoughtful preservations.
Integra's real estate arm primarily acquires apartment communities with project-based Section 8 HAP contracts or other low income use restrictions where we feel we can have impact and create value. Our team has experience employing a variety of financing structures to optimize preservations, commonly including the use of low income housing tax credits. We voluntarily enter into affordable use restrictions and have never sold any of our properties.
We believe relationships matter. Many of our best opportunities have come from those with whom we've worked before, so we approach each transaction with a partnership mindset.
Some owners are intrigued by tax credits but wish to retain ownership. For these groups, we offer a joint venture program - we serve as the tax credit developer and bear all risk, the owner retains ongoing control and receives significant up front proceeds, and their property receives a major renovation.
In 2012, we launched our Nonprofit Support Arm (NSA) to help serve the specific needs of nonprofit affordable housing owners. Many nonprofits have highly-restricted assets, encumbered by any number of rent and income restrictions. Many of these assets are eligible for long term preservations through a variety of government subsidy programs designed for affordable housing. We help nonprofit owners navigate the affordable housing landscape to see the opportunities within the restrictions. NSA builds upon our experience, allowing us to effectively support these groups in their preservation goals.
With NSA, we are highly-specific in our focus: helping nonprofit owners of low income housing properties evaluate eligible low income housing preservation structures.