What Turnbridge Equities does

Turnbridge Equities is a privately-held, SEC-registered, vertically-integrated real estate investment and development firm founded in 2015 by Andrew Joblon. The firm operates through Turnbridge Real Estate Fund I LP and its SEC-registered investment advisor, Turnbridge RE Fund Management Company I LLC. With offices in New York, Bethesda, Newport Beach, and Austin, Turnbridge pursues value-add and opportunistic investment strategies across multiple asset classes including last-mile industrial, value-add multifamily, mixed-use placemaking, mission-critical office, distressed retail, and trophy residential development. The firm specializes in complex, off-market, and distressed transactions, including bankruptcy acquisitions, assemblage strategies, and rezoning, targeting high-barrier-to-entry markets with strong demographic tailwinds. Since inception, Turnbridge has deployed $4.6 billion in total capitalization across 67 investments in 58 properties totaling 21.1 million square feet, in markets including California, Florida, Maryland, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia.

The firm's revenue model combines asset management and fund management fees on assets under management, carried interest and performance fees upon successful asset disposition, and direct real estate investment returns through rental income, asset appreciation, and capital gains. Turnbridge operates a vertically-integrated platform with in-house capabilities spanning acquisitions, development, entitlements, construction, credit, capital markets, leasing, and operations. Notable portfolio assets include the Music Lane mixed-use development in Austin anchored by Soho House and Gensler; the Bronx Logistics Center (1.3 million SF multi-story industrial); the National Capital Business Park (442 acres in Prince George's County, MD); Highline Glenwood (a $200 million luxury residential tower in Raleigh); and SilverRock Resort (a 130-acre luxury resort acquired from bankruptcy). The firm has executed several high-profile exits, including the $95 million sale of Cary Towne Center to Epic Games and the institutional exit of the Northern Virginia Mission-Critical Cyber/Defense-Tech portfolio.

Turnbridge targets institutional investors and high-net-worth individuals through direct fundraising and joint venture partnerships with capital providers including QIA, PCCP, Manulife, JPMorgan, Dune Real Estate Partners, Abacus Capital, and BMC Investments. The firm leverages off-market sourcing capabilities, broker relationships, and deep local market expertise to identify and execute complex transactions across the capital stack. Its competitive positioning is anchored by SEC registration, a proven track record of institutional exits, vertically-integrated execution capabilities, and an experienced leadership team drawn from firms including Fisher Brothers, MRP Realty, Plaza Construction, and Deutsche Bank.

Name

Turnbridge Equities

Legal name

Turnbridge Real Estate Fund I LP

Website

https://turnbridgeeq.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Turnbridge Equities is a privately-held, SEC-registered real estate investment and development firm founded in 2015 that pursues value-add and opportunistic strategies across industrial, multifamily, mixed-use, and office asset classes in high-barrier-to-entry US markets, with $4.6 billion deployed across 67 investments.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment & Development

NAICS

Other Activities Related to Real Estate (531390), Portfolio Management and Investment Advice (52394), Other Financial Vehicles (52599), Lessors of Other Real Estate Property (53119)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282), Real Estate (6500)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

akta.pro secondary industries

Real Estate Transaction Advisory & Due Diligence (FSAEAJAJ), CRE Bridge & Transitional Lending (FSALADAC)

Keywords

• Real estate investment
• Commercial real estate development
• Private equity real estate
• Value-add real estate
• Institutional real estate funds

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Asset Management & Fund Management Fees: As an SEC-registered investment advisor, Turnbridge generates management fees on assets under management across its private equity real estate funds, as well as carried interest and performance fees upon successful asset disposition.
2. Real Estate Investment Returns: Turnbridge invests equity capital across the capital stack in real estate assets, generating returns through rental income, asset appreciation, and capital gains upon disposition of properties.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Turnbridge Equities is a privately-held, SEC-registered, vertically-integrated real estate investment and development firm that sources, acquires, develops, and operates commercial real estate across industrial/logistics, multifamily, mixed-use, office, and distressed asset classes. The firm manages private equity real estate funds and invests equity capital across the capital stack, generating returns through asset appreciation, rental income, carried interest, and management fees on assets under management.

Product overview

Turnbridge Equities is a privately-held, SEC-registered real estate investment and development firm with $4.6 billion in total capitalization and 21.1 million SF in portfolio since inception. The firm operates a vertically-integrated platform spanning acquisitions, development, entitlements, construction, credit, capital markets, leasing, and operations across multiple investment strategies including Covered Land, Distressed Debt, Distressed Retail, Industrial Outdoor Storage, Land Assemblage, Last Mile Industrial, Mission-Critical Office, Mixed-Use, Multi-Tenant Industrial, Placemaking, Preferred Equity, Single Family Build to Rent, Trophy Residential Development, Value-Add Industrial, Value-Add Multifamily, and Value-Add Office. The portfolio includes diverse asset classes across high-growth markets in California, Florida, Maryland, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia.

Differentiator

Problem solved

Functional benefit

Products and services

• Music Lane Two-acre mixed-use development on South Congress Avenue in Austin, TX featuring three Lake Flato-designed buildings with 163,000 SF of office, retail, and hospitality uses. Anchor tenants include Soho House, Gensler, Deloitte, and Lululemon.
• Bronx Logistics Center 1.3 million SF multi-story Class A industrial complex in the South Bronx featuring direct rail access, truck/van loading, and 2,000 vehicle parking spaces for last-mile e-commerce delivery.
• Cary Towne Center Former 980,000 SF regional mall on 87 acres in Cary, NC that Turnbridge rezoned for up to 4.5 million SF of mixed-use development. Sold to Epic Games for corporate headquarters campus.
• SilverRock Resort 130-acre partially-built luxury golf resort and residences in La Quinta, CA (Coachella Valley) acquired through bankruptcy for $65 million, with plans for luxury hotel, condominiums, and estates.
• The Creamery 82,000 SF historic retail/commercial property in Raleigh, NC rezoned for up to 40 stories of mixed-use development including the Highline Glenwood tower.
• Four Seasons Private Residences Lake Austin 200-unit ultra-luxury condominium development on 145 acres at Lake Austin near Downtown Austin, featuring full spa, lake clubhouse, and private marina with 3,000+ feet of waterfront.
• Mailman Road (Build-to-Rent Community) 302-unit single-family build-to-rent community on 74 acres in Knightdale, NC with two-to-five bedroom units averaging 1,650 SF, featuring backyards, garages, and resort-style amenities.
• National Capital Business Park 442-acre industrial land development in Prince George's County, MD developed with co-developer Manekin. Phase I consists of 1.3 million SF across five buildings; Phase II adds 1.5 million SF including cold storage.
• Hampton Logistics Center Two-building 506,559 SF Class A industrial development in Hampton, VA on 31.95 acres, featuring 36-foot clear heights and LEED Gold certification, located 12 minutes from Port of Virginia.
• Sterling Town Center 339-unit garden-style apartment community on 28 acres in Northeast Raleigh, NC acquired in partnership with BMC Investments and Abacus Capital, executing a capital improvement program.
• Highline Glenwood 37-story luxury residential tower in Downtown Raleigh, NC comprising 306 units with extensive amenities and ground-floor retail/commercial space, redeveloping the historic Pine State Creamery site.
• 617 Colorado Street Micro Hotel 344-key micro hotel development in the Austin CBD, developed through a strategic partnership with a global hospitality operator and investor.
• Industrial Outdoor Storage Portfolio Portfolio of six industrial outdoor storage properties totaling 620,000 SF in California (Rancho Way, 189th Street) and New York (Brooklyn locations) targeting fleet and trailer parking for urban logistics.
• Turnbridge Real Estate Private Equity Funds SEC-registered private equity real estate fund vehicles that invest across multiple strategies (covered land, distressed debt, distressed retail, industrial outdoor storage, land assemblage, last-mile industrial, mission-critical office, mixed-use, multi-tenant industrial, placemaking, preferred equity, single family build to rent, trophy residential, value-add industrial, value-add multifamily, value-add office), generating asset management fees and carried interest returns.

Quantifiable outcome

• $4.6 billion in total capitalization across 67 investments in 58 properties since inception in 2015.
• +4 more outcomes

Named customers20 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered major and core.

• BMC InvestmentsmajorStrategic or Co-development Partner · 1 August 2025Turnbridge, in partnership with BMC Investments and Abacus Capital, acquired Sterling Town Center, a 339-unit garden-style apartment community in Northeast Raleigh, NC in August 2025. The partnership is executing on a capital improvement program.
• ManekincoreStrategic or Co-development Partner · 1 December 2020Turnbridge acquired the 442-acre National Capital Business Park in Prince George's County, MD with co-developer Manekin in December 2020. Manekin is a regional industrial developer in the DC metro area. The partnership recapitalized Phase I with PCCP and QIA in May 2023.
• Dune Real Estate PartnerscoreStrategic or Co-development PartnerTurnbridge partnered with Dune Real Estate Partners on the Bronx Logistics Center, a 1.3 million SF multi-story industrial development in the South Bronx. Dune served as a joint venture partner alongside Turnbridge for this flagship urban last-mile project.
• ARCO Design-BuildmajorImplementation/ SI/ Consulting PartnerARCO Design-Build is the general contractor and design-build partner for Turnbridge's 303 Louisiana Avenue project, a 192,000 SF last-mile industrial development in Brooklyn. ARCO is a national design-build construction firm.
• Lake Flato ArchitectsmajorImplementation/ SI/ Consulting PartnerTurnbridge's Music Lane development in Austin, TX features three Lake Flato-designed buildings. Lake Flato is a renowned Texas-based architecture firm recognized for sustainable, contextually-inspired design.
• Global Luxury Hotel Flag (unnamed)coreStrategic or Co-development PartnerTurnbridge negotiated a management agreement with a global luxury hotel flag for SilverRock Resort and branded residences as part of the acquisition from bankruptcy. The specific brand name is not publicly disclosed.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Lone Star Funds: Global opportunistic real estate PE manager specializing in distressed and special-situations real estate acquisitions, similar to Turnbridge's bankruptcy and non-performing loan sourcing model. Operates at significantly larger scale but in the same strategy lane.
• MRP Realty: Mid-Atlantic-focused real estate investment and development firm operating across multifamily, mixed-use, office, and industrial. Comparable in size and DC-area footprint; multiple Turnbridge senior leaders (Ryan Nelson, Jason Davis, Tim Heise) previously worked at MRP, indicating direct strategic overlap.
• Dune Real Estate Partners: NYC-based value-add and opportunistic real estate PE firm focused on industrial, multifamily, and mixed-use assets in supply-constrained markets. Direct co-investment partner with Turnbridge on the Bronx Logistics Center, indicating highly overlapping strategy, scale, and underwriting approach.
• Stream Realty Partners: National commercial real estate services and investment firm with deep Texas and Sunbelt industrial / multifamily exposure. Caitlyn Ryan (Turnbridge SVP of Texas Development) previously served as SVP of Investments at Stream, evidencing close strategic alignment.
• Ackerman & Co: Vertically-integrated commercial real estate investment and development firm operating across industrial, office, and retail in the Southeast and Mid-Atlantic. Closely comparable in size, vertical integration, and value-add strategy, particularly Turnbridge's Sunbelt industrial focus.
• PCCP, LLC: Institutional real estate credit and equity investment manager providing capital across the capital stack. Co-invested alongside QIA on National Capital Business Park with Turnbridge, demonstrating directly comparable deal flow and underwriting standards in commercial real estate.
• Bridge33 Capital: Mid-market value-add real estate PE firm focused on industrial and office repositioning in primary U.S. markets. Jack Hechinger (Turnbridge VP of West Coast Investments) joined from Bridge33, and the firm's industrial value-add thesis closely mirrors Turnbridge's.
• Sherwood Equities: NYC-based real estate investment and development firm focused on value-add and mixed-use development. Ryan Nelson (Turnbridge Managing Principal) was previously SVP at Sherwood, indicating close strategic alignment in NYC mixed-use value-add strategy.

Broad incumbents

• LeFrak Organization: Large, vertically-integrated, family-owned real estate investment and development firm with broad multifamily, office, and mixed-use exposure in NYC and select coastal markets. Dan Triana (Turnbridge Director of Development) joined from LeFrak, evidencing comparable vertical integration and execution model.
• Cerberus Capital Management (Real Estate): Large alternative investment manager with a significant real estate franchise focused on distressed and opportunistic real estate globally. Operates at much larger AUM but overlaps with Turnbridge's special-situations and bankruptcy sourcing approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/turnbridge-equities

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Turnbridge Equities