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.
TMG PARTNERS AND BRIDGES CAPITAL ACQUIRE 149 NEW MONTGOMERY THROUGH DEED IN LIEU OF FORECLOSURE

TMG to Begin Renovations and Lease-Up to Office Property with Ground Floor Retail

SAN FRANCISCO (Sept. 3, 2025) – TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, in partnership with Bridges Capital LLC, has acquired 149 New Montgomery Street, a Class A, 80,000-square-foot office building in San Francisco’s South Financial District.

149 New Montgomery

                       149 New Montgomery, Courtesy of TMG Partners

“We believe this submarket will continue to be in high demand from tech, AI and professional services firms due to its exceptional location blocks from Market Street, Salesforce Transit Center and Yerba Buena/Moscone Center, with multiple transit nodes within a four-minute walk,” said TMG Partners President and Chief Investment Officer Ben Kochalski. “We are planning renovations to enhance the creative office elements of this brick and timber building while preserving its architectural charm.”

TMG acquired the mortgage loan from U.S. Bank as trustee last month and has now acquired the property through a deed in lieu of foreclosure.

The property is an 80,000-rentable-square-foot, six-story office building located in the New Montgomery corridor. Originally constructed in 1907 with floors five and six added in the 1930s, the building houses high-tech companies with retail shops at street level, including restaurant Café Madeleine.

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. One of the most active developers in the Bay Area Region, TMG has a portfolio of more than 30 million square feet across Oakland, San Francisco, San Jose, and other Bay Area cities that includes a variety of office, retail, residential, and industrial properties, ranging from office campus and multi-story properties in urban-infill locations to mixed-use and single-story suburban buildings. For detailed information, visit TMG Partners.

 

About Bridges Capital:
Bridges Capital LLC was founded in 2024 to invest in commercial real estate properties in the San Francisco Bay Area.  Bridges Capital's strategy is to partner with best-in-class local developers and management companies to execute value-added business plans for each property it acquires.  Bridges Capital has been an active acquirer of San Francisco office buildings over the past year, leading the purchases of four properties totaling over 325,000 square feet.

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