Latest news with #TurtleCreek
Business Wire
07-08-2025
- Business
- Business Wire
CORRECTING and REPLACING University Place Asset Management and Axonic Capital Provide $97.5M Senior Construction Financing to Developers of Rosewood Residences in Dallas
DALLAS--(BUSINESS WIRE)--Please replace the release dated August 6, 2025 with the following corrected version due to multiple revisions. The updated release reads: UNIVERSITY PLACE ASSET MANAGEMENT AND AXONIC CAPITAL PROVIDE $97.5M SENIOR CONSTRUCTION FINANCING TO DEVELOPERS OF ROSEWOOD RESIDENCES IN DALLAS Rosewood Residences Turtle Creek will be a 17-story, 33-unit luxury condominium project in historic Dallas neighborhood University Place Asset Management ('UPLAM') and Axonic Capital LLC ('Axonic') today announced the closing of a $97.5 million senior construction loan to developer One Turtle Creek LP for Rosewood Residences Turtle Creek, a new luxury residential project in Dallas's historic Turtle Creek neighborhood. UPLAM and Axonic worked as co-lenders on the transaction, which will refinance the existing construction loan, replenish interest reserves and provide the capital required to complete the development of the condominiums. Other terms of the transaction were not disclosed. 'The building just recently topped out and sales are already exceptionally strong,' says Ameesh Agarwal, Co-Founder & Chief Investment Officer for UPLAM. 'We believe this is among the most luxurious residential projects in Dallas, which makes it an excellent investment in a thriving market.' The 17-story development will feature 33 ultra-luxury condominiums ranging from 2,000 to 6,380 square feet, offering unparalleled views of the Dallas skyline and the scenic Turtle Creek neighborhood. In addition to a rooftop oasis and infinity pool, the project also offers a host of hospitality-focused amenities, including a private garden, private dining room, secure dog park and pet spa. 'Rosewood Residences Turtle Creek represents the premier turn-key luxury residences for high-end buyers in Dallas and aligns with the demographic trends we are observing in the market. We believe Rosewood is the perfect brand to appeal to not just local buyers, but also other domestic and international luxury homebuyers,' said Eric Sitman, Managing Director and Portfolio Manager at Axonic. 'Axonic worked quickly and nimbly with the developer to provide this timely financing despite the challenging circumstances with the prior lender, ensuring that this in-demand development remains on track to be completed efficiently.' Completion of Rosewood Residences Turtle Creek is anticipated in summer 2026. For more information, please visit: About University Place Asset Management Founded by property owners, developers, and investors Mark Moskowitz and Ameesh Agarwal, University Place Asset Management ('UPLAM') is a forward-thinking global investment firm focused on alternative investments in real estate, credit and private equity. Its emphasis is on opportunistic, value-oriented, asset classes. For more information about UPLAM, please visit About Axonic Capital Founded in 2010, Axonic Capital is an alternative investment manager with expertise in commercial and residential real estate debt and equity, structured credit, and systematic fixed income. Axonic Capital manages over $6 billion in assets across a range of investment products, including private limited partnerships, separate accounts, and publicly listed mutual and interval fund structures. For more information, please visit
CBS News
07-08-2025
- CBS News
Two men shot overnight in North Braddock
Two men were shot overnight in North Braddock. Allegheny County Police say 911 dispatchers were notified of a shooting along Seddon Avenue just before 12:30 a.m. on Thursday. Evidence markers were scatted around the street with crime tape blocking off the area. A short time later, police say that Turtle Creek officers received a call of two people who were shot inside a car that was parked near Penn Plaza. The car that was parked in the area appeared to have a window that was shot out and numerous bullet holes. Police say two men who were shot in the back showed up at a nearby hospital. Police didn't provide any details on their conditions. Allegheny County Police Homicide Unit detectives are leading the investigation into the shooting. Investigators say that it appears the people were shot at the scene along Seddon Avenue and then drove to Turtle Creek, where they were taken to the hospital by a family member or drove themselves to the hospital. Anyone with information about the shooting is asked to call the County Police Tip Line at 1-833-ALL-TIPS. Callers can remain anonymous.
CBS News
13-06-2025
- Climate
- CBS News
Repairs underway on Westmoreland Heritage Trail after flooding
A portion of the Westmoreland Heritage Trail was severely damaged due to flooding last week. Now this week, work is underway to repair this community favorite, especially parts of the trail that run along Turtle Creek. For Bryan Dawson, the trail is a weekly escape, but he says he was a little worried when his favorite walking path was flooded last week. "We've seen it before," said Dawson. "If you go about a mile, you can see how the force of nature strips the gravel right off. You can see the foliage beat down, and you can imagine you don't want to be down here when the weather is bad." But on Friday, Dawson and others were back on the trail as trucks carrying debris from the recent flooding could be seen coming and going. The cleanup and project to fix the damage on the trail began on Thursday morning in the stretch of trail that runs between Trafford and Export. Stan Rudge, the president of the Westmoreland Heritage Trail, spoke with KDKA by phone about the damage. "That section of trail is only about 9.5 to 10 miles long, and we have at least one mile of it where the surface preparation has been deteriorated, seriously, down to the (surface) below the fine limestone," said Rudge. Rudge went on to say that he is grateful for both the volunteer crews that have come out to work and the paid crews from local municipalities. He says his organization has allocated some $20,000 for repairs and cleanup, and now they are raising funds again to help keep the trail viable. "The whole trail is going to need resurfaced. So, there is going to be some large expenses done on that. We are getting the trail back to being usable, but to be the trail that it was is going to take a large funding amount," Rudge said. Anyone who would like to join or donate to the Westmoreland Heritage Trail Association can find more information online.
Yahoo
01-06-2025
- General
- Yahoo
Large firefighter presence responds to house fire in Turtle Creek
Crews responded to a house fire in Turtle Creek. Allegheny County dispatchers say the fire started in the 300 block of Stewart Street at 9:55 p.m. on Saturday. Firefighters called for more units just six minutes later with a second alarm. No injuries have been reported at this time. This is a developing story. Check back for updates as more information becomes available. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
Yahoo
28-03-2025
- Business
- Yahoo
Turtle Creek Asset Management UCITS fund surpasses US$100m in AUM
LONDON, March 28, 2025 (GLOBE NEWSWIRE) -- Turtle Creek Asset Management Inc. ('Turtle Creek'), a Canadian independent investment management firm with a 26-year history, is pleased to announce that assets for its UCITS fund, Turtle Creek North American Equity Fund, an Irish ICAV fund, surpassed US$100m in January 2025. The fund also has a new administrator, US Bank Global Fund Services (Ireland) and from March 10th there has been daily dealing. Turtle Creek's North American mid-cap value strategy has a track record of over 25 years, and is both rigorous and repeatable. The UCITS fund portfolio targets to own shares in 30 companies between US$2 billion - US$20 billion at the time of purchase, and is constructed from the 100+ companies that the firm actively follows. It is managed according to the same cash flow based value investing strategy and continuous optimization process that has been successful for over 25 years. Andrew Brenton, Turtle Creek's CEO, said: 'This is a very significant landmark in AUM to have reached for the UCITS fund, and is indicative of the importance to Turtle Creek of it. North American mid-caps represent excellent opportunities for European investors seeking quality companies that are underappreciated by the market and offer diversification beyond a highly concentrated U.S. large-cap market. The current environment means the portfolio is trading at a favorable discount to its intrinsic value, offering an attractive entry point.' Michael Bowen, Senior Vice President, Global Head of Relationship Management, said: 'We think long-term value investing in North American equities with a well-considered, consistent and nuanced investment approach represents a primary portfolio building block. Given the current volatility and uncertainty in markets we believe allocators understand the importance of a very active approach to stock selection and portfolio optimization, and also appreciate why our mid-cap focus is particularly attractive in these circumstances.' Turtle Creek was established in 1998 by Andrew Brenton, Jeffrey Cole and Jeffrey Hebel who have worked together continuously for over 30 years. Prior to Turtle Creek, they founded and ran the private equity investment subsidiary of The Bank of Nova Scotia. While successful at generating strong returns for the bank, they pivoted to public equity investing on account of routinely observing better run, profitable companies trading at irrational prices, and concluded that improved risk-adjusted-returns could be achieved. Today, Turtle Creek manages mid-cap public equity portfolios totalling more than US$4 billion. There is a 12 person investment team based in Toronto. Turtle Creek's strategy has an open-ended, publicly available track record via a Canadian vehicle. The UCITS is very similar in overall exposure to the existing strategy. The UCITS Fund has been available for qualified investors in the UK, Switzerland, Luxembourg, Spain, the Netherlands, Germany, Austria and Poland, and Turtle Creek is actively considering registration in other jurisdictions. About Turtle Creek Asset Management Inc. Turtle Creek Asset Management Inc. was founded in 1998 by Andrew Brenton, Jeffrey Cole and Jeffrey Hebel. Based in Toronto, Turtle Creek is comprised of twelve investment team members and sixteen additional employees, offering a different kind of value investing focused on long-term capital growth for a clientele of high-net-worth families, institutions and wealth advisors. For further information, please visit: Contacts: CDRChristen Thomson, Senior Counsel in to access your portfolio
