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 Real Deal
PG&E drops nearly $1B to buy its Oakland HQ
by TRD Staff

Pacific Gas & Electric has completed a nearly billion-dollar buyout of its headquarters in downtown Oakland. 

The utility giant laid out $985.5 million for a 28-story office tower and adjacent mixed-use building at 300 Lakeside Drive, The Mercury News reported. That includes $906 million for a parcel containing the tower and $79.5 million for the adjacent parcel with the office and retail building. 

PG&E has been working to streamline its Bay Area holdings in recent years. 

The corporation signed a 35-year deal with TMG Partners in 2020 to lease the 300 Lakeside tower with the option of buying it in the future. TMG bought the building in 2020 for $450 million before working out the agreement with PG&E. PG&E first announced its intent to purchase the property in 2023. 

In 2021, PG&E sold its former 1.5-million-square-foot headquarters complex at 245 Market Street and 77 Beale Street in San Francisco for $800 million. It moved into the Lakeside Drive tower the following year. 

PG&E CEO Patricia Poppe doubled down on the site, calling the Oakland headquarters “a critical hub for our operational and innovation progress” in a statement.  

In addition to the 29-story tower, 300 Lakeside comes complete with a roughly 130,000-square-foot office and retail building as well as a parking garage with a rooftop garden. 

The goal with the acquisition is to secure a more efficient operation in one place, with PG&E estimating it would save $400 million in the reshuffling. The Lakeside building is the home office for about 7,000 of PG&E’s 26,000 workers. By moving its Bay Area operations into one building, PG&E has slashed its Bay Area office space in half since 2020, the Mercury News reported. 

The company has vowed to pass the savings along to customers over a five-year period, which would help tamp down any increases in monthly bills in that timeframe. 

“We love being a part of the community in Oakland and look forward to our future in this vibrant city,” Poppe said. — Chris Malone Méndez