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 39 years. As much as we have accomplished over the last three 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 over three 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 & CEO

As the Bay Area’s economy has grown over the last three 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 FieldChief Investment Officer

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 39 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

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
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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.
A view of Lake Merritt with two buildings in the foreground.
San Francisco Business Times
TMG Partners acquires future Oakland PG&E headquarters
by Laura Waxmann

San Francisco developer TMG Partners announced Friday that it has closed on the building that will become PG&E's new Oakland headquarters at 300 Lakeside Drive.

The price was not disclosed. The sellers, Swig Co. and Rockpoint Group, will become investors in the new TMG ownership entity, the company said in a statement. Swig acquired the property in 2005 and formed a joint venture with Rockpoint to recapitalize it in 2015.

Swig and Rockpoint Group put the building on the market late last year, and TMG acknowledged it had the building under contract in June when PG&E announced it planned to vacate its San Francisco headquarters of more than a century to relocate to Oakland by 2023.

The utility company will lease 600,000 square feet of vacant space at 300 Lakeside — which, at 975,000 square feet, is Oakland's largest office project — and eventually occupy the entire building as existing leases expire. The current tenants are BART and the University of California Office of the President, which plan to relocate to other buildings in Oakland.

PG&E's long-term lease at 300 Lakeside also includes an option to buy the building from TMG in 2023 for $892 million. The company has hired CBRE to market its San Francisco headquarters, 77 Beale St. and 245 Market St., for sale.

Oakland Mayor Libby Schaaf said in a statement on Friday said that the acquisition is "good news for the vitality downtown Oakland" as the city begins its recovery from the economic downturn induced by the Covid-19 pandemic.

"We welcome PG&E and their employees to our community and look forward to sharing our Oakland values with our new neighbors," Schaaf said in a statement. "We also look forward to working with TMG Partners as they realize the long-term potential of the property as this significant transaction illustrates Oakland's continued central role in the broader Bay Area economy."

TMG Partners President Matt Fields said 300 Lakeside provides opportunity for PG&E to optimize its footprint and reduce real estate costs.

"This was a very complicated transaction executed in a time of unprecedented economic disruption involving a headquarters lease and purchase option, a complex joint venture with the seller, a significant scope of building renovation and a large-scale financing," Fields said.

Developed in 1960 as the headquarters for Kaiser Industries, 300 Lakeside will be subject to renovations by TMG, including a seismic upgrade, facade cleaning and significant upgrades to its mechanical plant and fire and life safety systems, TMG said in its statement. Gensler has been hired as the architect for the project, MKA as the structural engineer and Plant Construction as the general contractor.

The property comes with a 1,330-stall parking garage with a rooftop garden and a two-story building with some 130,000 square feet of retail and office space that were not part of the deal with PG&E. TMG said it will retain ownership of the garage and office building at 344 Thomas L. Berkeley Way, which together are entitled for a 1.4 million-square-foot office or residential development. The firm said that it will finalize its development plans for the buildings after it completes the buildout of 300 Lakeside and then market the properties for lease.