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JV Allows Expansion During Future Cycles

SAN FRANCISCO—The TMG venture, with an exclusive $150 million separate account, seeks $470 million of new value-add and opportunistic developments.

By Lisa Brown | Updated on October 09, 2015

SAN FRANCISCO—TMG Partners’ exclusive $150 million separate account allows the firm to invest in value-add commercial real estate developments in the Bay Area. The venture will ideally acquire approximately $470 million in real estate properties. Product types will include office, R&D, residential and mixed use. TMG will have complete discretion over acquisitions, management and dispositions in the venture.

Michael Covarrubias, chairman and CEO of TMG Partners, tells GlobeSt.com: “This is a great opportunity for us at TMG to deploy capital in off-market transactions that we can source, having developed relationships throughout the Bay Area for our 32 years.”

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