TGM Associates Acquires A Multifamily Community in Stamford, CT

NEW YORK, Jan. 16, 2015 /PRNewswire/ -- TGM Associates announced today the acquisition of TGM Anchor Point, a waterfront community which contains two mid-rise apartment buildings, totaling 323 units situated on 15.2 acres in Stamford, Connecticut.  TGM Anchor Point offers its residents an extensive amenity package which includes, a two level athletic club, indoor basketball court, indoor racquetball court, cafe lounge, swimming pool, landscaped courtyards and multiple grilling areas.  Additionally, resident are provided with shuttle transportation from the property to the Stamford train station, which offers convenient access to Manhattan, and the Northeast corridor. TGM Anchor Point offers studio, one, two and three bedroom apartment homes with an average square footage of 998 feet.

Additionally, the property contains a 72 slip marina, which can accommodate boats up to 40 feet in length.  Slips are available for year-round and seasonal rental to the general public.

TGM Anchor Point represents one of the highest quality multifamily assets in Fairfield County.  Stamford is home to the U.S. headquarters for UBS and RBS, and over one dozen companies have recently announced or moved their world headquarters to Stamford including: Starwood Hotels & Resort, NBC Sports, Nestle Waters NA, Design Within Reach, Tronox Inc., Kayak, Charter Communications and Navigator's Group.  Attractions throughout Stamford include Chelsea Piers Sports and Entertainment complex, Stamford Town Center, an urban mall home to many trendy retailers such as Brooks Brothers, Apple, Barnes & Noble, H&M, J. Crew, Uniqlo, Forever 21, Zara, and many more.

All of these major centers of employment, shopping and entertainment are within a short distance from TGM Anchor Point.

"We are very excited to bring TGM Anchor Point into our multifamily portfolio. TGM Anchor Point will complement our other TGM Communities in Connecticut, offering even more Premium Apartment Living options in the 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 Anchor Point is managed by TGM Associates' management brand, TGM Communities.

With the addition of TGM Anchor Point, TGM now owns three properties in Connecticut.  In addition to TGM Anchor Point, TGM owns TGM Village at Stamford in Stamford, and TGM Waterford Commons in Manchester.

TGM plans to renovate the interiors of all of the apartment homes, as well as the resident amenities.

TGM Anchor Point, formerly known as Avalon on Stamford Harbor, was owned and managed by AvalonBay (NYSE:AVB).  TGM was represented on the buy side by Institutional Property Advisors (IPA), Steve Witten and Victor Nolletti.

For more information about TGM Anchor Point, please visit www.TGMAnchorPoint.com

About TGM Associates
Founded in 1991, TGM Associates is a SEC registered investment advisory firm with a single focus -- multifamily properties. TGM specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. TGM provides investment advisory services regarding the acquisition, management and sale of multifamily properties throughout the United States. An affiliate of TGM provides property management under the brand TGM Communities.  As of March 31, 2014, TGM has invested approximately $2.1 billion in 123 multifamily properties throughout 28 states.  TGM's current multifamily portfolio contains properties in 12 states. 

To learn more about TGM Associates please contact Michael Frazzetta, CFO
Phone: (212) 830-9336, E-mail: [email protected]

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SOURCE TGM Associates