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Welcome to Thornburg

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For Institutional / Wholesale / Professional Clients

The content on this website is intended for institutional and professional investors in the United States only and is not suitable for individual investors or non-U.S. entities. Institutional and professional investors include pension funds, investment companies registered under the Investment Company Act of 1940, financial intermediaries, consultants, endowments and foundations, and investment advisors registered under the Investment Advisors Act of 1940.


Please read the information below. By accessing this web site of Thornburg Investment Management, Inc. ("Thornburg" or "we"), you acknowledge that you understand and accept the following terms and conditions of use.


Products or services mentioned on this site are subject to legal and regulatory requirements in applicable jurisdictions and may not be licensed or available in all jurisdictions and there may be restrictions or limitations to whom this information may be made available. Unless otherwise indicated, no regulator or government authority has reviewed the information or the merits of the products and services referenced herein. Past performance is not a reliable indicator of future performance. Investments carry risks, including possible loss of principal.

Reference to a fund or security anywhere on this website is not a recommendation to buy, sell or hold that or any other security. The information is not a complete analysis of every material fact concerning any market, industry, or investment, nor is it intended to predict the performance of any investment or market.

All opinions and estimates included on this website constitute judgements of Thornburg as at the date of this website and are subject to change without notice.

All information and contents of this website are furnished "as is." Data has been obtained from sources considered reliable, but Thornburg makes no representation as to the completeness or accuracy of such information and has no obligation to provide updates or changes. Thornburg disclaims, to the fullest extent of the law, any implied or express warranty of any kind, including without limitation the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

If you live in a state that does not allow disclaimers of implied warranties, our disclaimer may not apply to you.

Although Thornburg intends the information contained in this website to be accurate and reliable, errors sometimes occur. Thornburg does not warrant that the information to be free of errors, that the functions contained in the site will be uninterrupted, that defects will be corrected or that the site and servers are free from viruses or other harmful components. You agree that you are responsible for the means you use to access this website and understand that your hardware, software, the Internet, your Internet service provider, and other third parties involved in connecting you to our website may not perform as intended or desired. We also disclaim responsibility for damages third parties may cause to you through the use of this website, whether intentional or unintentional. For example, you understand that hackers could breach our security procedures, and that we will not be responsible for any related damages.

Thornburg Investment Management, Inc. is regulated by the U.S. Securities and Exchange under U.S. laws which may differ materially from laws in other jurisdictions.

Online Privacy and Cookie Policy

Please review our Online Privacy and Cookie Policy, which is hereby incorporated by reference as part of these terms and conditions.

Third Party Content

Certain website's content has been obtained from sources that Thornburg believes to be reliable as of the date presented but Thornburg cannot guarantee the accuracy, timeliness, completeness, or suitability for use of such content. The content does not take into account individual investor's circumstances, objectives or needs. The content is not intended as an offer or solicitation with respect to the purchase or sale of any security or other financial instrument or any investment management services, nor does it constitute investment advice and should not be used as the basis for any investment decision.


No determination has been made regarding the suitability of any securities, financial instruments or strategies for any investor. The website's content is provided on the basis and subject to the explanations, caveats and warnings set out in this notice and elsewhere herein. The website's content does not purport to provide any legal, tax or accounting advice. Any discussion of risk management is intended to describe Thornburg's efforts to monitor and manage risk but does not imply low risk.

Limited License and Restrictions on Use

Except as otherwise stated in these terms of use or as expressly authorized by Thornburg in writing, you may not:

  • Modify, copy, distribute, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell, or exploit any reports, data, information, content, software, RSS and podcast feeds, products, services, or other materials (collectively, "Materials") on, generated by or obtained from this website, whether through links or otherwise;
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  • Probe, scan, or test the vulnerability of any Materials, services, systems, networks, servers, or accounts related to this website or attempt to gain unauthorized access to Materials, services, systems, networks, servers, or accounts connected or associated with this website through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device of any Materials, services, systems, networks, servers, or accounts related to this website; or
  • Modify, copy, obscure, remove or display the Thornburg name, logo, trademarks, notices or images without Thornburg's express written permission. To obtain such permission, you may e-mail us at info@thornburg.com.

Severability, Governing Law

Failure by Thornburg to enforce any provision(s) of these terms and conditions shall not be construed as a waiver of any provision or right. This website is controlled and operated by Thornburg from its offices in Santa Fe, New Mexico. The laws of the State of New Mexico govern these terms and conditions. If you take legal action relating to these terms and conditions, you agree to file such action only in state or federal court in New Mexico and you consent and submit to the personal jurisdiction of those courts for the purposes of litigating any such action.


You acknowledge and agree that Thornburg may restrict, suspend or terminate these terms and conditions or your access to, and use, of the all or any part this website, including any links to third-party sites, at any time, with or without cause, including but not limited to any breach of these terms and conditions, in Thornburg's absolute discretion and without prior notice or liability.

Give Us a Call

Fund Operations

Press Release, On Strategy

Thornburg Real Estate Ventures Breaks Ground on Multifamily Development in San Diego

14 Mar 2022
4 min read

4250 Oregon is a class-A multifamily development in San Diego’s trendy North Park neighborhood.

Albuquerque, NM, March 14, 2022 – Titan Development (“Titan”), Malick Infill Development (“Malick”) and Thornburg Real Estate Ventures (“Thornburg”) announced today 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.”

Titan, Malick, and Thornburg will work closely together to bring the project to fruition, with construction expected to be completed by June 2023.

The 4250 Oregon project is funded in part by Titan Development Real Estate Fund II, which closed in February 2020, as well as Thornburg Real Estate Ventures, a real estate group and wholly-owned subsidiary of Thornburg Investment Management. Titan’s Fund II targets investments in multifamily and industrial projects.

About Titan Development

​Titan Development is a leading Southwest full-service development and real estate investment firm. Titan has developed 13 million square feet of real estate totaling more than $2.5 billion in project cost since the firm was formed in 1999. Titan Development 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, has committed 80% of the total fund equity to eleven projects and has identified the remaining projects which will commence construction in early 2022. To learn more, please visit www.titan-development.com.

About Malick Infill Development

Malick Infill Development is an urban infill development firm based in San Diego, California, focused on placemaking, transit-oriented development, and enhancing walkability. Their most recent 127 unit mixed-use project, Parco in National City, was fully leased in only 9 weeks. For more information, please visit www.malickinfill.com.

About Thornburg Real Estate Ventures

Thornburg Real Estate Ventures helps clients satisfy their diversification and target return needs by providing access to quality real estate investment opportunities. Thornburg Real Estate Ventures is the dedicated real estate group and a wholly-owned subsidiary of Thornburg Investment Management, a global investment firm delivering on strategy for institutions, financial professionals, and investors worldwide. Founded in 1982, Thornburg Investment Management oversees $49 billion in client assets ($47 billion AUM and $1.9 billion AUA as of December 31, 2021). Thornburg’s U.S. headquarters is in Santa Fe, New Mexico with offices in London, Hong Kong and Shanghai. For more information, visit qa.thornburg.com.

Media Contact, Titan:
Lisa Baker, Lambert & Co.

Media Contact, Thornburg:
Michael Corrao, Director of Global Communications

Media Contact, Malick Infill Development:
Linda Skemp

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