CHICAGO (March 30, 2016) Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that leading real estate developer and property manager Turnberry Associates is using Textura-Construction Payment Management™ to enhance project collaboration and to standardize payment management activities across its development portfolio.
Aventura, Fla.-based Turnberry Associates has developed more than $8 billion in commercial and residential property across a growing geographic footprint, with a focus on high-end retail, hospitality, office and condominium projects. The company is currently using CPM to improve the efficiency and transparency of payment management processes across multiple large-scale projects, including a $4 billion, 183-acre master planned community that recently broke ground in North Miami.
“As the scope and complexity of our developments continued to increase, we saw a need to standardize our business processes, both to improve efficiency and to mitigate risk arising from payment activities,” said Lenny O’Neill, Senior Vice President of Construction for Turnberry Associates. “Textura’s CPM solution has enabled us to achieve all of those objectives by facilitating centralized, standardized and collaborative interactions between our general contractors and subcontractors, as well as increasing our visibility and control across all payment process steps,” O’Neill said.
A web-based Software-as-a-Service (SaaS), Textura-CPM integrates key construction payment management processes - including billing, lien waiver collection, progress claims, statutory declarations, sub-tier waivers, compliance management and payments - into a seamless, online workflow that enables collaboration across project participants.
“With CPM, we can be confident that payment applications are being completed efficiently and correctly, that compliance materials on projects stay up to date, and that lien waivers are handled properly,” O’Neill said.
“Turnberry Associates’ experience with CPM underscores the benefits Textura provides to owner/developers by standardizing, optimizing and de-risking payment and compliance management activities,” said Mike Antis, Executive Vice President of Client Services for Textura. “We’re thrilled that they have joined the ranks of owner/developers using Textura and look forward to being a lasting partner in their growth and success,” Antis said.
About Turnberry Associates
Turnberry Associates is one of America's premier real estate development and property management companies. Founded more than 50 years ago, the company’s diverse projects have revolutionized the living, working, leisure and shopping habits of millions of people across the country. Turnberry Associates has to its credit the development of more than $8 billion in commercial and residential property, including more than 3,000 hotel and resort rooms, 20 million square feet of retail space, in excess of 7,000 apartments and condominium units and 1.5 million square feet of class “A” office space. Today Turnberry Associates’ family leadership is moving the company into the future. www.turnberry.com
Textura is a leading provider of collaboration and productivity tools for the construction industry. Our solutions serve all construction industry professionals across the project lifecycle – from takeoff, estimating, design, pre-qualification and bid management to submittals, field management, performance management, LEED management and payment. With award-winning technology, world-class customer support and consistent growth, Textura is leading the construction industry’s technology transformation. www.texturacorp.com
Emily Ries, CPM Marketing
Annie Leschin, StreetSmart IR
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