SAN DIEGO, CA - Titan Development, Malick Infill Development and Thornburg Real Estate Ventures announced that they have formed a joint venture and broken ground on 4250 Oregon, a 53,805-square-foot, Class-A multifamily project in San Diego, California. The property is Titan's first investment in California.
This six-story, 94‐unit boutique residential community will be located at the southwest corner of El Cajon Boulevard and Oregon Street in North Park, one of San Diego's trendiest neighborhoods. The property is adjacent to the iconic North Park Water Tower and Community Park which has sporting facilities including tennis courts, soccer fields, a softball field, basketball courts, and picnic areas. The project is also within walking distance to vibrant restaurants, bars, breweries, farmers' markets, and coffee shops. The location has an enviable Walk Score of 94 and a Bike Score of 80; nearby dedicated bike lanes and the Bus Rapid Transit (BRT) lines connect residents to Downtown San Diego and San Diego State University, while San Diego International Airport is just an 11-minute drive from the site. The development will feature communal gathering spaces on the top floor, which offers sweeping views of the city and the Laguna Mountain range.
Ben Spencer, Partner and a Principal of Fund Management at Titan, said, "We are thrilled about our expansion to San Diego, a city that has long been an attractive and competitive real estate market particularly as work-from-home flexibility has risen nationally, and more and more people have chosen to relocate to this appealing city." Kurt Browning, Partner at Titan, added, "North Park is an excellent location for our first multifamily investment in California. We are excited to be partnering with the talented designers and developers at Malick in San Diego and with the innovative real estate investment team at Thornburg."
"North Park is where I live and work," said Andrew Malick, Founder and Principal of Malick Infill Development. "I am proud to be developing another project in my neighborhood and can't wait to open the doors and meet my new neighbors."
"Malick and Titan have proven track records of owning and developing successful real estate projects similar to 4250 Oregon," said David Bennett, Director of Real Estate at Thornburg. "Their partnership on this attractive and high-quality development in the competitive San Diego market allows us to continue adding to a diversified mix of real estate investment opportunities for our investors."