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.
San Francisco Business Times
TMG Partners, Northwood to take over massive Transbay project
by J.K. Dineen

TMG Partners and Northwood Investors are set to take control of perhaps San Francisco's most valuable development site, an assembly of parcels at First and Mission streets set to be transformed into two soaring towers with 1.2 million square feet of office space and 605 condominiums.

 

The sale was tentatively agreed to today in United States bankruptcy court after a deal was hammered out between investor David Choo, the previous owner of the site, and MS Mission Holdings, which had bought the loan on the property and foreclosed on it after Choo had defaulted on a loan.

Under the agreement, TMG and Northwood Investors will pay $122 million for the property. Of that, $97 million will go to Morgan Stanley Real Estate and Lincoln Properties, the two entities that made up MS Mission Holdings. Choo will receive $20 million in cash at closing as well as $10 million in two $5 million installments later on.

MS agreed to sell the properties to FM Owner LLC, the TMG/Northwood partnership. In court documents, MS says they "wish to enter into a mutual release of all claims and causes of action." The "transaction is the product of months of negotiations between FM, MS, the debtors, Choo, and all other borrower parties," stated the agreement. "It achieves a complete resolution, including full payment of all claims against the debtors and their estates, and ends continuing litigation."

Under the Transbay Plan, a rezoning that was put in place to encourage density around the Transbay Terminal, the seven parcels at First and Mission were zoned for a 850-foot tower and a 605-foot tower. On May 22 attorneys for the project filed a revised preliminary project assessment that is consistent with the new zoning. The project would include a 59-story office tower with frontage on First Street and 56-story condo tower.

David Choo, who lost several businesses to bankruptcy during the recession, had originally hired Renzo Piano to design a series of slender skyscrapers the designer likened to bamboo shoots.

The deal is the latest coup for Michael Covarrubias, the president of TMG Partners. San Francisco's most prolific downtown dealmaker, Covarrubias is known for taking on the most thorny and arduous deals and somehow making them work. In past year Covarrubias has been on a roll. Last year he attracted Macys.com and Riverbed Technologies to an empty building at 680 Folsom St., eventually selling it to Boston Properties for $300 million in cash and stock. Along with DivcoWest TMG group bought 1275 Market St. for $44 million and turned around and sold it to Dolby for $109 million.