TurnCap targets inaugural debt fund of $50 million

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A new real estate investment company, launched in partnership with some executives from Cleveland-based mortgage banking outfit Bellwether Enterprise, looks to tap into what it feels is an underserved area of the investor market — one that may be poised for significant growth.

Beachwood-based TurnCap was formed last spring, but is now ready to go live. 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 new firm’s managing partner. They are currently working to build up an inaugural debt fund with a target size of approximately $50 million.

With some committed investors already on board and several potential deals already in the works, that’s expected to happen pretty quickly.

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