NEW YORK, Oct. 20, 2021 /PRNewswire/ -- TGM Associates L.P., a National Leader in acquiring and managing multifamily properties on behalf of institutional clients, is celebrating its 30-year anniversary. In 1991 co-founders Thomas Gochberg and Steven Macy set out with a vision to build a unique investment firm specializing in the full lifecycle of institutional multifamily investing. Over the course of the last 30 years, this vision has become a reality. TGM has grown from a small owner of apartments in a handful of cities to a nationwide owner and manager of high-quality institutional multifamily assets. TGM forges long-term investor relationships through an unparalleled level of focus, depth of expertise and commitment to operational innovation.
TGM's co-founder and Managing Principal Steve Macy remarked: "When we started in 1991 the country was mired in a major national recession. The banks and savings and loans were collapsing and being taken over by the feds. The mortgage market for investment property was shut down and, after years of over-supply caused by steady new construction, multifamily properties could be acquired out of foreclosure for 50 cents on the dollar. We thought that these conditions offered a superb opportunity to buy assets cheap and ride the market recovery as the recession ended and the supply/demand pendulum swung back to equilibrium. So we called a number of friends, associates and former clients and we were able to raise enough money to buy 23 apartment projects across the Sunbelt."
Current CEO and Managing Principal John Gochberg added: "This is an incredible milestone for any company. TGM has achieved this success through the hard work, passion and dedication of our team members; the development, adherence and continued improvements on our investment procedures and attention to detail; and our culture of client service that exists throughout the entire organization. Keeping these core traits at the forefront of our efforts enables us to challenge convention, pursue intelligent risks and generate innovative solutions that push TGM to be a leader in the market."
TGM has grown steadily from its formative years and the future indeed looks bright.
Planning for the future
From the outset, TGM was founded upon the belief that our single most indomitable strength resides in operating as a consistent, cohesive team. Our shared conviction for operating with integrity, accountability and transparency remains at our core and dictates the firm's approach. Commencing in 2005 the co-founders initiated plans for the firm's future growth and management. Michael Frazzetta and Zachary Goldman, who held senior positions in TGM, became managing principals, joining John Gochberg to form the core of the next generation of TGM leadership. Also, the firm extended the TGM brand with the formation of TGM Communities LLC in recognition of its national property operations company. In consequence TGM is well poised to continue growing and provide the extraordinary level of service and performance that our clients have become accustomed to over the last 30 years.
Founded in 1991, the TGM Group ("TGM") was organized to provide an integrated suite of asset and property management services to its investors through a series of fully integrated operating companies. Through its vertically and horizontally integrated operating companies, TGM specializes in acquisitions, property management, leasing, construction, property maintenance and asset management services. An affiliate of TGM provides property management services under the brand TGM Communities. As of October 20, 2021, TGM has invested in 139 multifamily properties throughout 28 states.
To learn more about TGM please contact John Gochberg, Managing Principal and Chief Executive Officer. Phone: (212) 830-9312, Email: [email protected]