SAN FRANCISCO—TMG Partners' exclusive $150million separate account allows the firm to invest in value-addcommercial real estate developments in the Bay Area. Theventure will ideally acquire approximately $470 million in realestate properties. Product types will include office, R&D,residential and mixed use. TMG will have complete discretion overacquisitions, management and dispositions in the venture.
Michael Covarrubias, chairman and CEO of TMGPartners, tells GlobeSt.com: "This is a great opportunity for us atTMG to deploy capital in off-market transactions that we cansource, having developed relationships throughout the Bay Area forour 32 years."
In this joint venture, TMG is more seamlessly able to acceleratefocus on the residential and commercial components of its 30-yearhistory, and with one primary partner. NewYork-based Park Madison Partners sourcedthe capital from a single international institutionalinvestor. TMG will also continue to grow relationships withexisting and new partners as larger deals warrant co-investmentrelationships.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
