TGM MOURNS DEATH OF CO-FOUNDER AND MANAGING PRINCIPAL STEVEN C. MACY

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- It is with profound sadness that TGM mourns the death of its Co-founder and Managing Principal, Steven C. Macy (1949-2024). Steve, real estate executive, husband, brother, uncle, friend, mentor, proud parent and grandparent, and oracle of wisdom who told endless anecdotes, died in New York on December 2^nd. Steve was a dynamic leader with a breadth of interests and knowledge that matched his energy, enthusiasm, and drive. He was born and raised in Dayton, Ohio.

Steve co-founded TGM Associates L.P. ("TGM") with Thomas Gochberg in July 1991. TGM provides an integrated suite of asset and property management services to large, global institutions, including state pension funds, sovereign wealth funds, corporate pension plans, and high-net-worth individuals. Prior to co-founding TGM, Steve worked at Smith Barney Real Estate and its successor company, Security Capital, where he first met Thomas Gochberg. Steve also worked for Integrated Resources, where he headed Integrated's national portfolio of 32,000 apartments.

Steve was responsible for overseeing Smith Barney's nationwide property management operations and is recognized by some as one of the principal creators of the national property management business. Prior to his tenure at Smith Barney, real estate investment was predominantly a local and regional business, and Steve was responsible for creating an organization that was national in scope and capable of efficiently managing a portfolio stretching from coast to coast. He replicated this process twice more while at Integrated Resources and TGM.

Steve was profiled in Bloomberg Businessweek's Executive Profile Directory for multiple years. He was also awarded the Institute of Real Estate Management's Certified Property Manager designation and was instrumental in TGM's designation as an Accredited Management Organization by that same institution.

Steve's Real Estate affiliations included being a member of the Institute of Real Estate Management, the National Multi Housing Council (he served on the Board of Directors from 1990 to 1991), the National Apartment Association, and the Pension Real Estate Association.

Steve was a member and patron of numerous New York social and cultural institutions and was an active member of the New York City Catholic Diocese. He accompanied Cardinal Dolan and his predecessor, Cardinal Egan, as members of their entourage on several visits to the Vatican, where Steve met sitting Popes. Steve was also an active member of St. Ignatius Loyola's congregation on the Upper East Side of Manhattan. Steve also enjoyed traveling with his Jesuit friends, including attending several silent retreats and several trips to Israel.

Steve and his wife Emi had a plethora of shared interests that included volunteering, cooking, and good food (Steve was an excellent cook and enjoyed preparing meals for all), and was an adventurous traveler. Steve had an amazing rolodex of excellent restaurants from all the places he visited and usually a good story or two from the times he frequented them.

Steve dedicated significant time to mentoring young minds in search of wisdom. He once published his feelings on how to lead a "successful life" which reflected those tenets that resonated deeply with him and were evident to any person that he came in contact with. In short, Steve stated that if you wanted to change the world:

• Start by making your bed every morning. Doing simple things well and maintaining discipline to do these tasks every day builds one's character. Moreover, the completion of this simple task every morning will lead to the completion of many more tasks by the end of the day.
   
• Find a mentor to help you along your journey. No successful person ever got ahead and stayed there without the help of others.
   
• Your integrity is the most valuable tool in your personal arsenal. Be honest in your dealings with others. The finest compliment you can ever get is "his/her handshake is pretty damn good".
   
• Don't be afraid to take risks. Success rarely, if at all, comes to timid individuals that are afraid to take risks. Don't be foolish and caviler about it. Assess the playing field, measure the options and then move boldly and decisively in a well thought out way.
   
• Dress and comport yourself appropriately at all times. People will measure you by your appearance and manners; particularly in the way you treat others, just as much as by what you say. It's okay to be strong willed and assertive but don't be an asshole.
   
• Work hard at every job you hold. Get to work on time and don't hesitate to work extra time. Don't give 110% – give 200%.
   
• Set goals for yourself at the beginning of every year, personal as well as professional. Then monitor your progress on a regular basis. If you are consistently coming up short, then make changes in how you are doing things. Don't keep marching up the hill the same way if it isn't getting you to the summit.
   
• Be loyal and true to your family, friends, employer and business partners.
   
• Don't whine over spilled milk. Put your failures or negative experiences behind you promptly. Learn from the lesson and move on. Don't let it distract you from your overall goal because your ultimate goal is to win the war, not every individual battle.
   
• Don't be flighty and jump around all the time. Decide what you want to do with your life and then stay focused. Never stop learning about your chosen field of endeavor. Focus on making forward progress every day, even if it is only a small step forward.
   
• If you want to achieve financial independence, then keep an eye on your Balance Sheet. How much you make is far less important than how much you save and invest.
   
• Make it a steady habit to donate some of your time and treasure to people and causes that serve those in need. Whatever you give will come back to you a thousand-fold.
   
• Always remember that no matter how high your station in life becomes, stay humble and don't take yourself too seriously because that too will pay dividends that you can only begin to imagine at this stage of your life.
   
• Keep a copy of this list. I hope you will use it wisely. Don't just read it once and put it away. Review it again every year, perhaps when you sit down to develop your goals for the upcoming year. I think you will discover that it's an even more valuable tool in the years to come then it is today.
   
• Lastly, don't wax philosophical to others about how smart I am for developing this list and sharing it with you. Because the truth is I didn't invent any of these pearls of wisdom. All of them were created and shared with me by others that traveled the road long before me. I merely adopted them to help me follow my personal path over the last six decades.

Steve is survived by his wife Emi; children Christopher, Tiffany, Alexa, and Akane; grandchildren Todd Jr., Tess, Tanner and Tom; his sister Karen; and many cousins, nieces and nephews. He will be missed by all.

About TGM
Founded in 1991, TGM is an investment advisory firm 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 September 30, 2024, TGM has invested in 141 multifamily properties throughout 28 states.

To learn more about TGM please contact John Gochberg, Managing Principal, Chief Executive Officer, and President. Phone: (212) 830-9312, E-mail: [email protected]

SOURCE TGM