TMG Partners has closed a $220 million separate account to invest in the Bay Area. An unnamed single institutional investor funded the account. It is TMG's third venture with the investor.

The capital investment will support the acquisition of $625 million of office, R&D, life science, residential and mixed-use product in the Bay Area, which Matt Field, TMG's President, calls "one the country's most competitive real estate investment markets." Field adds that the capital will allow the investor to respond to opportunities quickly and to deliver high-quality assets to the market.

In a previous special account, TMG invested in an office building at 300 Lakeside in Downtown Oakland, which was pre-leased to PG&E to use as its new headquarters; in an adjacent site for 1.3 million square feet of development; and an office property in Santa Clara. The first special account included the acquisition of three Oakland properties and one San Jose property, which TMG leased to Google, Oracle, Arup, Clovis Oncology, and Santa Clara County before selling the properties.