75 Canal Street Mezzanine Loan

In May 2020, Turnbridge acquired a discounted mezzanine loan secured by an infill development site in the Mott Haven section of the Bronx, entitled for up to approximately 170,000 square feet of mixed-use. The investment was structured to preserve Turnbridge’s ability to take control of the property in a default scenario. After exercising its contractual extension option, the borrower ultimately repaid the loan in full at maturity.