Titan Development, a real estate private equity firm, has closed Titan Development Real Estate Fund III at $122 million.

The Fund aims to build multifamily and industrial projects in growing secondary and tertiary markets. The Fund can also invest in opportunistic real estate sectors such as hospitality and self-storage in other markets.

“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.”