Titan Development, a Southwest real estate development and private equity real estate firm, has closed its third fund at $122 million. Titan Development Real Estate Fund III’s limited partners include primarily family offices and high-net-worth individuals. The fund targets multifamily and industrial projects in secondary and tertiary markets across the Sunbelt.
Albuquerque, NM, May 12, 2022 – Titan Development (“Titan”), a leading Southwest real estate development and private equity real estate firm, announced today the close of Titan Development Real Estate Fund III (“TDREF III” or “Fund III”) at $122 million in limited partner and general partner commitments.
With the closing of TDREF III, Titan Development has raised a total of $329 million since the inception of the Fund series in 2017, and developed projects with a combined cost approaching $1 billion. Investors in TDREF III are primarily family offices and high-net-worth individuals, with more than 80% of Titan’s past investors participating in TDREF III alongside new investors. The discretionary Fund’s investment objective is focused on building multifamily and industrial projects in growing secondary and tertiary markets which have seen rapid growth in recent years. The Fund can also invest in opportunistic real estate sectors such as hospitality and self-storage in other markets.
“We are delighted that Fund III has won the support of investors who share our vision of developing and delivering high-quality solutions for businesses and renters,” said Ben Spencer, Fund Manager and Partner at Titan Development. “It’s a great show of confidence that we closed Fund III in about three months of fundraising. As interest in the Southwest region continues to grow, we look forward to deploying those investments to build projects that will deliver value for 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 highly attractive to investors,” said Kevin Reid, Partner at Titan Development. “It also confirms that our strategy of identifying many projects from our pipeline before the start of fundraising, and developing a diversified portfolio of spec and build-to-suit industrial properties and Class A multifamily housing, has won our investors’ confidence, and we greatly appreciate their support.”
Kurt Browning, Partner at Titan Development, said, “Fund III will have many industrial and residential opportunities for investment due to the continuing trend of technology and manufacturing companies relocating to the Sunbelt and the rising demand for multifamily housing. The Fund will allow us to continue building on our successes in the Texas, New Mexico, Florida and Arizona markets as well as further expand into our newer markets in Colorado and southern California.”
About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm, having developed real estate approaching more than $3 billion in project cost since the firm was formed in 1999. Titan has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX, and Albuquerque, NM.
Titan Development’s first private equity fund, Titan Development Real Estate Fund I (TDREF I), raised $112 million and invested in a variety of real estate asset classes. Titan Development Real Estate Fund II (TDREF II) raised $95 million and commenced in November of 2020. TDREF II focuses on industrial and multifamily development in secondary and tertiary markets. TDREF II has identified all Fund projects and is investing equity into 13 projects in TX, NM, CO, and CA. To learn more, please visit www.titan-development.com.