TGM Associates Acquires Resort-Style Naples FL Apartment Community

NEW YORK, March 24 /PRNewswire/ -- TGM Associates, a full-service, SEC-registered real estate investment advisory firm, announced today the acquisition of Bermuda Island, a 360-unit garden style apartment community in Naples, Florida, built in 1999.

Bermuda Island is a picturesque resort-style apartment community with tropical lakefront views located near the Gulf Coast beaches and a few minutes from the shopping, entertainment and arts district of downtown Naples, FL. Designed in Bermuda-style architecture, the property includes an array of remarkable amenities including a freeform swimming pool with a lakeside spa, 2,000-square foot fitness center, two lighted tennis courts, beach volleyball court, indoor racquet ball, business center, open air screened grill room and a scenic jogging path.

"We are very excited about this acquisition and our reentry into the Naples market. It's a wonderful community and we look forward to providing first-rate TGM customer service and living experience for our residents," said John Gochberg, Chief Operating Officer for TGM Associates.

Distinctive features in a Bermuda Island apartment home include unique floor plans, patio or balcony, built-in entertainment center and component shelving, wine rack, oversized closets, lakeside views and direct access garages in select units. The community welcomes pets and offers concierge services.

Bermuda Island was previously owned and managed by Tarragon Management, Inc. TGM Associates was previously in the Naples/Ft. Myers market from 1998 - 2006 when it owned and managed 1,400 units.

For more information about Bermuda Island and TGM Associates L.P., please contact Israel Carunungan, National Director of Marketing at 240-499-5598, email at [email protected] or visit www.TGMBermudaIsland.com.

About TGM Associates L.P.

Founded in 1991, TGM Associates L.P. is an investment advisory firm with a single focus -- multifamily properties. TGM specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. On behalf of its investor clients, TGM acquires, manages and sells apartment properties throughout the United States. Since 1991, TGM has invested approximately $1.7 billion in 115 multifamily residential properties throughout 28 states. TGM's current portfolio contains 48 properties in 23 states encompassing approximately 13,000 units.

SOURCE TGM Associates L.P.