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.
Mercury News
Emeryville's Public Market is bought by a real estate investment venture for about $54 million
by George Avalos, Oakland Tribune

The Public Market Emeryville, a prominent retail and office center in the East Bay, has been bought for about $54 million by a group of realty investors, an indication the Bay Area's retail sector is doing well.

The 270,000-square-foot complex, located on Shellmound Street near the Interstate 80 and Powell Street interchange in Emeryville, was bought by San Francisco-based City Center Realty Partners and New York City-based Angelo Gordon.

Over time, the new owners intend to add another 800,000 square feet that will include retail and offices. At present, Public Market Emeryville consists of stores, restaurants and offices.

Terms of the sale weren't officially disclosed. However, people with knowledge of the transaction and the market estimated that Public Market Emeryville was bought for a price somewhere in the range of $52 million to $60 million.

The purchase of the center came after an extensive renovation engineered by TMG Partners and Rockwood Capital, the group that sold the retail and office complex.

"Our renovation of the Public Market has created a strong platform for continued innovative development of the property with an infusion of new capital and enthusiasm for a dynamic Emeryville," said Michael Covarrubias, TMG's chief executive officer.

One of the biggest challenges the center faced was the abrupt exit of one of its prime retailer, Borders Books. The bookstore imploded during the recession and vacated numerous store sites, including Emeryville.

To fill the space, TMG found robust replacements in Urban Outfitters and Guitar Center.

"Emeryville is a thriving city," said Mark Stefan, an executive with City Center Realty Partners. "Public Market is a great place to expand a unique mixed use community into a model sustainable infill project."

The purchase points to a strong retail market in the Bay Area, which enjoys a stronger job market than the nation overall.

"There absolutely is confidence in core retail markets," said Solomon Ets-Hokin, a senior vice president with Colliers International, a commercial realty brokerage. "Prices are good and there is unprecedented demand for good retail property. And Emeryville is such a great retail node."

Brokers believe that plenty of cash is sitting on the sidelines, waiting to buy top-notch retail projects.

"Emeryville is clearly one of those markets that will have the growth potential that investors want, that will provide a respectable return in this economy," said John Sechser, a senior vice president and primary retail agent for the Walnut Creek office of Transwestern, a realty firm.

In the East Bay, investors have a tentative deal to buy the Safeway-anchored Pleasanton Gateway retail center in Pleasanton, near the Alameda County Fairgrounds on Bernal Road. And downtown Pleasant Hill is going up for sale, with buyers starting to line up to grab that choice property.

"Pension funds, private opportunity investors, real estate investment advisors, all want infill retail that's in a market protected from a lot of competition," said Kevin Van Voorhis, a Colliers senior vice president.