NEW YORK, April 30, 2025 ~ TGM, a leading real estate investment firm, has announced the acquisition of TGM Ocotillo Bay in Chandler, Arizona. The lakefront community is located in the upscale residential enclave of Ocotillo Master Plan and offers outstanding recreational amenities. With a low-density site plan spread over 19 acres, the 296-unit garden style community features resort-inspired Spanish architecture.

This acquisition marks TGM's return to the Phoenix market, where they have previously invested in and disposed of approximately 2,300 units. TGM Ocotillo Bay will be managed by TGM Communities LLC, the company's property management arm.

The prime location of TGM Ocotillo Bay is within a mile of the Price Road Corridor, which is known as the largest high-tech employment hub in Arizona. It is also home to Intel's largest manufacturing facility in the world. According to TGM, Chandler has some of the strongest fundamentals among Phoenix submarkets due to its convenient access to live/work/play opportunities.

In addition to its desirable location, Chandler boasts other attractive features such as having the number one school district in Arizona and being ranked at number 37 on Fortune's "50 Best Places to Live for Families" list for 2024. It is also one of the most financially stable cities in the United States, receiving AAA ratings from all major bond rating agencies since 2023.

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Built in 1997 and partially renovated in 2015, TGM believes that TGM Ocotillo Bay has excellent design, layout and construction. The community offers one-, two-, and three-bedroom apartments that will undergo further renovations by TGM. These renovations will include new kitchen cabinets, countertops, appliances, flooring, lighting and hardware fixtures. Bathrooms will also be upgraded to match the finishes of the kitchen.

Residents at TGM Ocotillo Bay can enjoy various community amenities such as two swimming pools with sundecks and grills, a landscaped entertainment courtyard with bocce ball, an outdoor fireplace, lounge and grill area, a contemporary fitness center with a yoga/spinning room, and stunning lake views from many buildings and amenity areas. TGM also plans to revamp the current clubhouse with modern and state-of-the-art amenities.

TGM's Managing Principals Zach Goldman and John Gochberg expressed their excitement about the acquisition, stating that TGM Ocotillo Bay is an excellent community with exceptional potential due to its prime location and unique lakefront setting. They also mentioned their signature renovation strategy that aims to add value for both residents and investors.

The marketing of Ocotillo Bay was handled by CBRE's Asher Gunter, Matt Pesch, Sean Cunningham, and Austin Groen. With this latest acquisition, TGM continues to expand its portfolio of high-quality properties in desirable locations across the country.

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