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.
The Registry
TMG To Build 660 San Francisco Apartments
by Jon Peterson

The red-hot San Francisco apartment market, driven by robust job creation and still expensive for-sale housing, is drawing more projects to break ground.

San Francisco developer TMG Partners plans to begin construction later this year and early next on two complexes totaling 380 units. One is in the city's Mission District. The other is South of Market. A third, 280-unit development at 5th and Folsom streets, also in SoMa, is in early planning.

The projects are being financed in part with equity from the California Public Employees' Retirement System.

"The Mission is attractive for young employees who are working for technology companies that are expanding," said Cathy Greenwold, a TMG executive vice president. "We are definitely going to take them into consideration for the amenities that we will be designing for the project. These kind of renters like urban design that is close to entertainment and restaurants."

Greenwold expects to start development of 200 apartments at 1880 Mission St. in the third quarter and anticipates an 18- to 20-month construction time frame. The developer is in the process of obtaining construction financing. An existing building on the site will be demolished.

At the same time, the company expects to begin development on 180 apartments at 265 5th St. by the end of 2011 or early 2012. It expects a similar construction time period as the Mission project. The site houses the former Bill Graham Presents headquarters building today. CalPERS and TMG paid $10 million to acquire the property shortly after their relationship formed in September 2006.

CalPERS has committed $100 million to AGI-TMG Housing Partners Fund I, which is a partnership with TMG and San Francisco's AGI Capital. The investment strategy centers on housing projects in the greater San Francisco Bay Area. TMG survived a culling of investment managers by CalPERS after the devastating real estate bust of 2008 and 2009.

TMG is counting on the limited construction of new apartments in the areas of the city where it plans to build, Greenwold said.

The San Francisco metro area, which includes San Mateo and Marin counties, is expected to see a full percentage point drop in its apartment vacancy rate in 2011 to 3.4 percent, according to projections from Marcus & Millichap Real Estate Investment Services. That is 100 basis points below the long-term average. Jeffrey Mishkin, a first vice president and manager for the company of its San Francisco office, said, "There is definitely growing demand in the marketplace for apartment units."

Effective rents, what landlords charge after concessions, will rise 5.2 percent to $1,801 a month, the company predicts. That is on top of growth in effective rents of 2.5 percent last year. Class A properties saw the greatest decline in vacancy, 1.8 percent, to 4.6 percent.

The company expects the San Francisco metro area to add 20,400 jobs this year. That's on top of 6,100 additions to the job force in 2010.