TMGOC Ventures (TMGOC), a joint venture partnership between The Montford Group and Opterra Capital, a real estate and development private equity firm headquartered in Charleston, S.C. and Boca Raton, Fla., reached $1 billion under ownership and development.
Since its inception in 2019, TMGOC has grown rapidly, amassing $1 billion in existing and development pipeline investments. The impressive portfolio boasts strong partnerships with hotel brands including Ritz-Carlton, Thompson by Hyatt, Autograph Collection, Tapestry Collection by Hilton and Moxy by Marriott. TMGOC identifies high-potential lodging and multi-family projects ripe for either value-add opportunity or ground-up development in markets characterized by high barriers to entry and diverse demand drivers.
“Since our founding, we have been intentional and deliberate in choosing our partners and our projects with a focus on opportunities that deliver long-term value to our stakeholders,” Co-Founders and Managing Members Sunju Patel and Glenn Alba said in a statement. “This milestone is a testament to our shared vision and we’re eager to continue our expansion into new markets and opportunities.”
TMGOC is the brainchild of industry veterans and co-founders, Sunju Patel and Glenn Alba, who sought to create a firm that would best serve investors, capital markets and debt partners. The result is an agile, experienced firm with an entrepreneurial spirit guided by an institutional mindset.
Patel and Alba, with their combined nearly 50 years of industry experience, have delivered value to investors. Together, they’ve built a portfolio of 2,620 hotel keys in existing hotels and ground-up development pipeline across the country, along with opportunistic multi-family, office and retail investments.
Recent TMGOC developments include the recently opened Moxy Charleston Downtown—the first Moxy by Marriott in South Carolina—a 131-room boutique hotel featuring a rooftop with expansive views of the Peninsula and iconic Ravenel Bridge. Additional projects underway include a 208-key Moxy by Marriott under construction in the heart of Uptown Charlotte, N.C., a 162-key Tapestry Collection by Hilton and 233-unit multi-family mixed-use development in Macon, Ga., a 191-key Thompson by Hyatt in Charleston, S.C., a 150-key and 20 residences Autograph Collection in Charleston, S.C., and a 100-key and 20 residences Ritz Carlton in Savannah, Ga.