Titan Development (“Titan”), one of the South West’s leading real estate development and private equity firms, today announced the closing of Titan Development Real Estate Fund III (“TDREF III” or “Fund III”) to $122 million in limited partner and general partner commitments.
With the close of TDREF III, Titan Development has raised a total of $329 million since the fund series was launched in 2017 and has developed projects with a combined cost of nearly $1 billion. Investors in TDREF III are primarily family offices and high net worth individuals, with over 80% of former Titan investors participating in TDREF III alongside new investors. The Discretionary Fund’s investment objective is focused on the construction of multi-family and industrial projects in growing secondary and tertiary markets which have experienced rapid growth in recent years. The Fund may also invest in opportunistic real estate sectors such as hospitality and self-storage in other markets.
“We are delighted that Fund III has secured the support of investors who share our vision of developing and delivering high quality solutions to businesses and tenants,” said Ben Spencer, fund manager and partner at Titan Development. “It is a great show of confidence that we have closed Fund III in about three months of fundraising. As interest in the South West region continues to grow, we look forward to deploying these investments to build projects that will bring value to our investors and meet the needs of the communities we serve.
“The speed at which we raised Fund III demonstrates that our investment thesis is very attractive to investors,” said Kevin Reid, Partner at Titan Development. “It also confirms that our strategy of identifying many projects in our pipeline before the start of fundraising, and developing a diverse portfolio of specific and bespoke industrial properties and Class A multi-family housing, has won the confidence of our investors, and we greatly appreciate their support.
Kurt Browning, Partner at Titan Development, said, “Fund III will provide many industrial and residential investment opportunities due to the continued trend of technology and manufacturing companies relocating to the Sunbelt and the growing demand for multi-family housing. The Fund will allow us to continue to build on our successes in the Texas, New Mexico, Florida and Arizona markets, as well as further expand into our new markets in Colorado and Southern California. .
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