TGM Returns to Phoenix Market with Exciting Acquisition Strategy
TGM Returns to the Phoenix Market with Strategic Acquisition
TGM has proudly announced its reacquisition of TGM Ocotillo Bay, a stunning lakeside community nestled within an upscale residential area. With 296 garden-style units featuring charming Spanish architecture, this community is set in an impressive low-density environment spanning approximately 19 acres. This marks TGM's significant reentry into the Phoenix market, where it previously acquired around 2,300 units, illustrating the company's commitment to revitalizing and expanding its portfolio.
Understanding TGM Ocotillo Bay's Locale
Strategically located near the Price Road Corridor, TGM Ocotillo Bay benefits from close proximity to Arizona's leading high-tech employment hub, hosting major companies such as Intel. This prime location enhances TGM's investment appeal, and with convenient access to vibrant live, work, and play environments, Chandler has emerged as one of the region's most desirable places to live. The local popularity is bolstered further by a top-ranked education system and a solid economic foundation, indicated by the city's recent AAA ratings from prominent bond agencies.
Plans for Renovation and Community Enhancements
The TGM Ocotillo Bay community was built in 1997 and previously renovated in 2015. TGM is now embarking on further renovations aimed at modernizing both the aesthetics and functionalities of the living spaces. Plans include upgrading kitchens with new cabinets and appliances, bathroom renovations, and enhancing community amenities. Residents will soon enjoy additions such as swimming pools with sunbathing decks, a newly designed clubhouse, and a state-of-the-art fitness center, all contributing to an enjoyable living experience.
Insights from TGM Leadership
TGM's Managing Principals, Zach Goldman and John Gochberg, expressed their enthusiasm for the acquisition, stating, "TGM Ocotillo Bay is an excellent community with exceptional bones and an irreplaceable lakefront location. The community presented the ideal opportunity to re-enter the Phoenix market." Their plan is to leverage their signature renovation approach to provide valuable enhancements for both residents and investors. As they move forward, TGM is excited to breathe new life into this property.
About TGM and Its Operations
Founded in 1991, TGM serves as a dynamic investment advisory firm providing an extensive range of asset and property management services. Through its robust structure, TGM manages acquisitions and property developments while offering quality leasing and maintenance services. With a portfolio comprising 142 multifamily properties across 28 states, TGM is dedicated to setting benchmarks in quality living and investment returns.
Frequently Asked Questions
What is TGM Ocotillo Bay?
TGM Ocotillo Bay is a multifamily apartment community located in Chandler, featuring 296 units designed for modern living.
Why did TGM choose to reenter the Phoenix market?
Chandler offers strong market fundamentals, access to employment hubs, and high-quality living opportunities, making it an ideal location for TGM's investment.
What renovations are planned for TGM Ocotillo Bay?
TGM plans to upgrade both interiors and community amenities, enhancing kitchens, bathrooms, and adding modern recreational facilities.
How does TGM summarize its business approach?
TGM focuses on providing integrated asset and property management solutions while actively improving communities within its portfolio.
How can I contact TGM for more information?
For inquiries, reach out to John Gochberg, Managing Principal and CEO, at the company's contact number, or via the company's email.
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