LOCATION: Cleveland, OH
TurnCap is a private commercial real estate investment platform providing direct lending in the form of bridge loans for multifamily and commercial projects. Its management features five internal partners including Bellwether president Ned Huffman and Kohrman Jackson & Krantz managing partner Jon Pinney, TurnCap’s co-founders, and Bellwether principal Jim Doyle, the firm’s managing partner.
TurnCap’s bridge to perm loan program is designed to add value to Borrower’s transactions by privately funding loans in situations where conventional and institutional lenders are unable to quote. The firm partners with highly qualified sponsors, workout groups and special servicers, closing most transactions in 60 days or less.
Additionally, TurnCap’s strategic partnership network provides best-in-class underwriting, legal, servicing and property management resources to help borrowers and partners close faster. It was this same strategic network that was the backbone of Kaulig Capital’s relationships with the TurnCap management team and facilitated Kaulig Capital participating in the fund as a General Partner.
The inaugural debt fund was targeted at just over $50 million and is nearly fully deployed.