#USA #Chandler #TGM #Ocotillo Bay

TGM Returns to the Phoenix Market with TGM Ocotillo Bay

TGM, a well-established investment advisory firm, has made a significant move by acquiring TGM Ocotillo Bay, a lakefront multi-family apartment community located in the upscale Ocotillo Master Plan in Chandler, Arizona. This community, which offers a serene lakefront setting, has a total of 296 units designed in a charming Spanish architectural style, situated over a sprawling 19-acre low-density landscape. This marks TGM's reentry into the Phoenix market, where they have a rich history of previous investments totaling approximately 2,300 units.

TGM Ocotillo Bay is strategically located less than a mile from the Price Road Corridor, known as the largest high-tech employment hub in Arizona, housing the world’s largest Intel manufacturing facility. Such proximity enhances the desirability of the property, given its potential tenant pool of employees from prominent local tech companies. Chandler not only boasts an exceptional job market but is also recognized for its excellent living standards, as evidenced by its number one ranking in Arizona's school districts and being ranked 37th on Fortune's list of the “50 Best Places to Live for Families” in 2024. Its favorable economic stability is further underscored by AAA ratings from major bond rating agencies.

Originally completed in 1997 and partially renovated in 2015, the apartments feature one, two, and three-bedroom layouts, maintained with a quality that meets modern living standards. TGM plans to implement a renovation strategy to enhance these units further. Updates will include new kitchen cabinetry and countertops, upgraded appliances, improved flooring, and contemporary lighting fixtures. Bathrooms will also undergo renovations to align with the kitchen updates, ensuring a cohesive design throughout.

The community offers an array of amenities designed for a luxurious lifestyle. Residents can enjoy two swimming pools with sundecks, a landscaped courtyard equipped for entertainment, a contemporary fitness center, and breathtaking lake views from numerous locations within the property. With plans to upgrade the current clubhouse to include state-of-the-art amenities, TGM is positioned to elevate the living experience at Ocotillo Bay to new heights.

Zach Goldman and John Gochberg, TGM's Managing Principals, expressed enthusiasm about the acquisition, stating, "We believe TGM Ocotillo Bay is an excellent community with exceptional bones and an irreplaceable lakefront location. The community presented the ideal opportunity to re-enter the Phoenix market." They highlighted the firm’s commitment to adding value for residents and investors through their signature renovation strategy.

In summary, TGM's acquisition of TGM Ocotillo Bay not only signifies the company’s confidence in the thriving Phoenix real estate market but also showcases its commitment to enhancing community living through comprehensive renovations and superior management services. As the Phoenix area continues to grow, TGM is poised to play a pivotal role in shaping the multifamily housing landscape, catering to the needs of modern residents looking for quality living environments in desirable locations.

About TGM

Founded in 1991, TGM operates as an investment advisory firm providing asset and property management services through fully integrated companies. The firm specializes in acquisitions, leasing, and comprehensive management of properties across the U.S. Currently, TGM manages 142 multifamily properties across 28 states, showcasing its expansive reach and commitment to quality housing solutions.

For more information about TGM and its initiatives, please reach out to John Gochberg, Managing Principal and Chief Executive Officer.