TGM acquired a 296-unit apartment complex in Chandler for $90.5 million. The property is now named TGM Ocotillo Bay.
Built in 1997, Ocotillo Bay features a low-density site plan at 15 units per acre and distinct Spanish architecture. The community’s amenities feature two expansive pool areas with cabanas and barbecues. Select units and one of the community’s two pool areas have direct lakefront views. An outdoor lounge area includes a bocce ball court, fireplace, barbecue, and covered seating areas. A resident clubhouse includes a business center and TV seating areas. The community has a contemporary fitness center with weight training and cardio equipment and a separate yoga/spin room.
CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a national fund manager.
TGM has made 142 property acquisitions throughout 28 states with aggregate purchase prices of approximately $3.8 billion.
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