It’s the way we think 
that sets us apart.

TMG Partners has been in the business of developing award-winning, financially-successful, community-based real estate for 40 years. As much as we have accomplished over the last four decades, we believe it is the way we THINK about our region, the risks we manage, the critical timing of our projects and the value we create that sets us apart.
Localism

Real Estate is
a local business.

No, really.

The San Francisco Bay Area is an extremely diverse real estate marketplace with countless micro-business climates teeming with possibility. But you have to be here—and know here—to make the most of the opportunities all around us. Having been exclusively committed to the Bay Area for four decades, we have developed a keen local intuition which gives us a unique advantage in recognizing both the opportunities and risks in this complex market.
Regionalism

We Think 
Mega

If we try to solve our land use problems by focusing
only on the nine Bay Area counties, we will fail.

Michael CovarrubiasChairman & Co-CEO

As the Bay Area’s economy has grown over the last four decades, so too has its challenges—particularly related to transportation, housing, affordability and climate change. To plan for growth of 4 million more people in the next third of a century, TMG is thinking bigger, beyond our nine Bay Area counties, and working on longer term strategies to create greater connectivity across our entire megaregion.
Timing

It’s got to work at low tide as well as high tide.

Some of our best deals are the ones we didn’t do.

Matt FieldCo-CEO

Almost anyone can make money in a positive economic climate. But it takes discipline, depth of market knowledge and experience in all major product types to know when to buy and when to sell. The most profitable deals can be the ones you decide just don’t make sense or are outbid by an “out of town” competitor. Because we are active in our markets on a daily basis, TMG Partners has managed a portfolio through 40 years of market cycles that works in all phases and has withstood the sands of time.
Vision

huh?

Once it’s obvious, it’s too late.

Cathy GreenwoldSenior Advisor

If you wait for the statistical proof to confirm real estate opportunities, you’re looking backwards. TMG Partners has cultivated an approach to studying the business landscape that reveals market opportunities before they become obvious. Our contrarian investment strategy balances optimism and caution with the intent of turning forward-looking investments into no-brainers.
Returns

Redefining IRR

Our measure for success goes beyond profit.

Lynn TolinChief Operating Officer &
Executive Vice President

Most investment professionals have a clear understanding of IRR: Internal Rate of Return, a purely financial measurement of performance. At TMG we use a different definition. For us, IRR means balancing Integrity, Relationships and Results. We measure every aspect of our business through this lens to ensure our partners, communities, tenants and buyers are treated with the highest degree of respect and responsibility while we consistently deliver superior financial performance.
Think
Localism
Regionalism
Timing
Vision
Returns
Close

Close

 

News & Awards.

TMG Partners has won awards for many projects
including honors for “Best Mixed Use,”
“Best Office,” and “Best Historic Rehabilitation”.
In the News. Press Releases. Awards.
(Google Maps) 3001 Tasman Drive in Santa Clara, an office building totaling 57,900 square feet.

Hundreds could work in new offices

East Bay Times
Tech firm moves HQ to Santa Clara campus where Silicon Valley Bank operated
by George Avalos

SANTA CLARA — A tech company that aims to use artificial intelligence for products such as smart cameras has leased a building in a Santa Clara office campus where a failed bank once had its headquarters.

Ambarella has leased 57,900 square feet at 3001 Tasman Dr. in Santa Clara, according to a regulatory filing. The company is currently located at 3101 Jay St., where it occupies 61,700 square feet, an annual report the company filed with the SEC shows.

The leasing transaction enables Ambarella to shift its headquarters location within Santa Clara.

The new Ambarella headquarters will be in The Quad at Tasman, which totals 410,000 square feet. For years, Silicon Valley Bank was headquartered in the office complex until it notably failed in 2023.

Commercial property brokers from real estate firms Newmark and Cushman & Wakefield arranged the lease. The brokers were Phil Mahoney and Ben Stern of Newmark and Erik Hallgrimson and Brandon Bain of Cushman & Wakefield.

The rental agreement is expected to total eight years and eight months and is due to begin sometime around September. Ambarella also has an option to extend the initial lease by five years.

Unspecified improvements to the new offices must be completed first, SEC documents show.

Ambarella may be able to employ up to 290 workers at the new site, based on typical employee ratios for office buildings.

In 2020, TMG Partners paid $152 million for the complex.

In September 2024, South Bay Development Co. paid $51 million for The Quad at Tasman, which is a short distance from Levi’s Stadium, documents filed on Sept. 18 with the Santa Clara County Recorder’s Office show.

Ambarella is a semiconductor company whose devices can be used in an array of applications.

Over the 12 months ending in July 2024, Ambarella lost $157.5 million on revenue of $252.5 million, according to Yahoo Finance. For the one-year period that ended in January 2024, Ambarella lost $169.4 million on revenue of $226.5 million.

Originally Published: January 16, 2025 at 12:20 PM PST