Real Estate Finance and Investment
Titan Looks For Value-Added, Core Acquisitions
January 13, 2006

By: Aaron Siegel

Titan Real Estate Investment Group wants to acquire value-added and core properties. With offices in both Los Angeles, California and Greenville, South Carolina the company invests in office, industrial, retail and multifamily properties, with a focus on primary and secondary markets, and is particularly bullish on secondary markets on the West Coast, said Kevin Kaseff, managing partner.

Last year, Titan bought about $250 million in properties and is looking for a slightly higher pace of investments in 2006. The company is looking for a “boring, predictable cash flow” in the short term or a higher yielding, longer-term play. It is looking for Class A or B properties that are at least 100,000 square feet or 100 units or larger on the multifamily side, buying properties of $10 million or more.

The company’s most recent acquisition was 4721 Calle Carga, a 50,454-square-foot, 4.28-acre industrial building in Camarillo, Calif. Titan acquired the property for $6 million from it sole tenant, Vitesse Semiconductor Corporation, in a sale-leaseback transaction that commits Vitesse to a 10-year lease. It plans to convert the building into a two-story office by expanding the existing mezzanine area, which will increase its size to approximately 64,000 square feet. The property will be ready for use in four months.

Titan has relationships with Urdang Capital Management, Prudential Real Estate and General Electric’s pension fund. On most deals, the company works with PNC and Wells Fargo.