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 METREON

TMG to Begin Renovations to Renowned Retail, Entertainment, 

Dining and Event Property 

SAN FRANCISCO (Feb. 9, 2026) – TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, in an equity partnership with Bridges Capital LLC, has acquired Metreon, a 320,000-square-foot shopping and entertainment destination at 135 4th Street at Mission in Downtown San Francisco in a deed in lieu transaction from Acore Capital, the lender on the acquisition. The City of San Francisco will continue to retain ownership of the ground lease. 

     Metreon Courtesy of Metreon

                        Metreon Courtesy of Metreon

“Since it first opened in 1999, Metreon has been a mecca for entertainment, shopping, and dining for families, local office workers, and visitors to San Francisco,” said TMG Partners President and Chief Investment Officer Ben Kochalski. “TMG Partners will now continue the tradition as we improve the experiential opportunities across the theaters, dining options, retail, common areas, and most notably the top-floor event space.”

Located in the heart of Downtown San Francisco in the thriving Yerba Buena Neighborhood, Metreon is a four-story, vertical shopping and entertainment center with a 16-screen AMC Theatres on the third level, featuring the tallest IMAX screen in North America. Visitors who shop at the City Target on the second level can also enjoy dining both inside and out at over a dozen restaurants and eateries, with cuisines from Japan, Italy, Korea, Vietnam, Mexico, America, and more. TMG will be adding to the mix as they lease-up the ground floor retail. 

The City View event space on the fourth level will also be reimagined and renamed by TMG Partners working with Skylight, a placemaking and venue development group that creates iconic cultural centers. 

“This investment in the Metreon is a powerful vote of confidence in our downtown recovery,” said Mayor Daniel Lurie. “The Metreon remains a key anchor downtown, drawing residents and visitors to the heart of our city, and TMG Partners’ investment will help build on our city's momentum. We’re grateful for their partnership as we work to accelerate San Francisco’s comeback.”

“Bridges Capital is pleased to partner with TMG in the acquisition of Metreon, an important cornerstone of the Yerba Buena neighborhood,” said Brandon Boze, founder and managing partner, Bridges Capital. “We look forward to continue enhancing the experiences offered in this dynamic neighborhood to visitors and locals alike.” 

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 six properties totaling over 700,000 square feet.

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