SAN FRANCISCO (October 30, 2017) – TMG Partners, one of the Bay Area’s largest mixed-use property developers, announced today the hiring of industry veteran Peter Weltchek as Managing Director of Capital Markets. He will join Matt Field, CIO, David Cropper, Development Director, and Lynn Tolin, COO on the Executive Management team.
“We look forward to working with Peter as we continue to grow our regional portfolio,” said Michael Covarrubias, TMG’s chairman and CEO. “With a long career in raising and managing equity and debt for other real estate organizations, Peter will be an asset to the Executive Management team, supporting growth opportunities for TMG and our partners.”
Prior to joining TMG, Weltchek served as managing director for Merlone Geier Partners, since 2008. He was previously the senior vice president of capital markets for Marcus & Millichap, and principal at Banc of America Securities (now Bank of America Merrill Lynch). Weltchek received a B.A. in Economics from Colby College and an MBA from the Wharton School at the University of Pennsylvania.
TMG’s most recent high-profile developments include the residential redevelopment of California Pacific Medical Center’s Presidio Heights campus, as well as a joint-venture with Valley Oak Partners, LLC for close to one million square feet of commercial office space near the Diridon Station in Downtown San Jose. The cities of San Francisco and San Jose are reviewing each of those respective plans.
In Downtown Oakland, they are currently renovating and leasing space at 1330 Broadway, their first Oakland redevelopment where they recently signed long-term lease agreements with Oracle and Arup. In 2016, they acquired 2201 Broadway, an eight-story 198,000-square-foot office building in Uptown Oakland.
About TMG Partners
TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 25 million square feet of property throughout the San Francisco Bay Area, including Emeryville, Marin City, Novato, Palo Alto, San Bruno, San Jose and San Francisco. One of the most active developers in this area, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visitwww.TMGPartners.com.