TGM continues buying frenzy

TGM Associates' acquisition of the Tuscany Apartments in Sarasota marks the second time in as many years that the 386-unit community has traded hands, property records show.

TGM, a New York investment firm that has been on a buying tear around the Gulf Coast in the past year, bought the 6001 Medici Court complex for
$70.55 million on Nov. 8.

It plans a “very large” capital campaign aimed at modernizing units and amenities alike, says John Gochberg, the company's co-founder and its CEO. The community also will be rebranded as TGM University Park.