TGM Associates announced today the acquisition of TGM Ibis Walk, a midrise apartment community with 401 units located in Saint Petersburg, FL.  

The property, completed in 2014, is comprised of nine four-story elevator serviced residential buildings, and a five story structured parking garage.  The property offers generously sized units with a mix of one, two, and three bedroom apartments, which include granite countertops, stainless steel appliances, breakfast bars, pantries, walk-in closets, and private balconies/patios.  Situated in a transit-oriented location with convenient access to I-275, Roosevelt Blvd. and Gandy Blvd., Ibis Walk offers a quick commute into downtown Saint Petersburg, Tampa, Westshore, and MacDill Air Force Base.

TGM Ibis Walk offers resort-style amenities including a heated swimming pool, whirlpool spa, clubhouse with resident lounge, Apple computer bar, athletic club with a Fitness On Demand studio, outdoor kitchen and entertainment area, central courtyards with grills and picnic areas, dog park, bicycle storage, electric car charging stations and a "park on your level" controlled access garage.

"We are pleased to expand our footprint in Saint Petersburg with this high-quality, fully-amenitized community in one of Tampa Bay's most desirable submarkets" said Zach Goldman, Managing Principal and Director of Operations for TGM Associates, a SEC-registered real estate investment advisory firm based in New York City. TGM Ibis Walk is managed by TGM Associates' management brand, TGM Communities.  Also owned and managed by TGM on the west coast ofFlorida is TGM Bay Isle (Saint Petersburg), TGM Bermuda Island (Naples), TGM Malibu Lakes (Naples), and TGM Palm Aire (Sarasota).  On the east coast of Florida, TGM owns and manages TGM Oceana (Boca Raton).  In late 2015, TGM sold TGM Vintage at Abacoa (Jupiter) and TGM Floresta (Jupiter).

TGM Ibis Walk, formerly known as Ibis Walk, was owned by Ibis Walk Residential, LLC and managed by Dallas, TX based Lincoln Property Company.  Brokering the transaction was Jamie May, Chairman & CEO and Eddie Yang, Principal & Executive Director at JBM Institutional Multifamily Advisors.

For more information about TGM Ibis Walk, please visit www.TGMIbisWalk.com

TGM Associates announced today the acquisition of TGM Bay Isle, a garden style apartment community with 582 units located in Saint Petersburg, FL.

The property, completed in two phases in 1998 and 2004, is comprised of twenty-two residential buildings built on a 50 acre site. The unit mix consists of one, two, and three bedroom apartment flats, as well as unusually spacious townhome units with direct access attached garages. Situated in a transit-oriented location with convenient access to I-275, Roosevelt Blvd. and Gandy Blvd, Bay Isle offers a quick commute into downtown Saint Petersburg, Tampa, Westshore, and MacDill Air Force Base.

TGM will be completing a value-add program to the interiors of the apartments and positioning the community to resort style, premium apartment living. The property has an outstanding amenity package with three swimming pools, a heated spa, two state of the art athletic clubs, two outdoor kitchens with gas grills and firepit, and a large dog park with agility course.  Residents also have access to tennis courts, a putting green and a renovated clubhouse with a kitchen and pool table.

"We are very excited to bring TGM Bay Isle into our multifamily portfolio.  The property's incredibly centralized location and best in-class amenities with access to the area's major employment centers makes TGM Bay Isle one of the most desirable residential locations in the Tampa Bay area," said Zach Goldman, Managing Principal and Director of Operations for TGM Associates, a SEC-registered real estate investment advisory firm based in New York City. TGM Bay Isle is managed by TGM Associates' management brand, TGM Communities.  TGM also owns and manages on the west coast of Florida; TGM Bermuda Island in Naples, TGM Malibu Lakes in Naples, and TGM Palm Aire in Sarasota, FL.  On the east coast of Florida, TGM owns and manages TGM Oceana in Boca Raton, FL.  In late 2015, TGM sold Vintage at Abacoa and Floresta both in Jupiter, FL.

TGM Bay Isle, formerly known as Bay Isle Key, was owned and managed by Chicago, IL based Heitman.  Brokering the transaction was John Selby, Senior Vice President and Sean Williams, Senior Vice President at CBRE.

For more information about TGM Bay Isle, please visit http://www.tgmassociates.com/properties/tgm-bay-isle/