Turnberry Associates Chooses Textura-Construction Payment Management
CHICAGO: Leading real estate developer and property manager Turnberry Associates will henceforth be using Textura-Construction Payment Management in order to improvise on the project collaboration and to standardize payment management activities across its development portfolio. Leading provider of collaboration solutions for the construction industry announced this latest move in the construction sector.
Turnberry Associates based in Aventura, has developed to its credence more than $8 billion in commercial and residential property with a focus on high-end retail, hospitality, office and condominium projects. "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 added. 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.
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 remarked.
"Turnberry Associates' experience with CPM underscores the benefits Textura provides to owner or 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 or developers using Textura and look forward to being a lasting partner in their growth and success," Antis said.