NEW YORK, Aug. 13, 2015 /PRNewswire/ -- TGM Associates L.P. announced today the sale of TGM Beechstone to Forest Properties based in Cambridge, MA. The broker on the transaction was Richard Robinson, an Executive Director at IPA. TGM Beechstone is located in Portsmouth, NH and has 428 apartments situated on a 73.5 acre site. The community was built in three phases: Phase 1: Colonial Pines (90-units), Phase 2: Stonecroft (84-units) and Phase 3: Beechstone (254-units). TGM purchased Beechstone in 2007 and implemented a value add program in 2008. Terms of the transaction were not disclosed.
About TGM Associates
Founded in 1991, TGM Associates is a SEC registered investment advisory firm with a single focus -- multifamily properties. TGM, a vertically and horizontally integrated operating company, specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. TGM provides investment advisory services regarding the acquisition, management and sale of multifamily properties throughout the United States. An affiliate of TGM provides property management under the brand TGM Communities. As of March 31, 2015, TGM has invested approximately $2.3 billion in 125 multifamily properties throughout 28 states. TGM's current multifamily portfolio contains properties in 10 states.
To learn more about TGM Associates please contact John Gochberg, COO
Phone: (212) 830-9312, E-mail: jgochberg@TGMAssociates.com
SOURCE TGM Associates L.P.