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CBRE negotiated the sale of Ocotillo Bay, a 296-unit multifamily community in Chandler, Ariz. CBRE's Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a national fund manager. New York-based TGM acquired Ocotillo Bay for $90.5 million. The transaction represents TGM’s re-entry into the Phoenix market. Phoenix is a market in which TGM has invested in the past, acquiring and disposing approximately 2,300 units. The property has been renamed TGM Ocotillo Bay and is managed by TGM Communities LLC.