3,100 Quaternary Units Recapped by Tzadik in Groundbreaking Two-State Portfolio, Invests in Booming Sioux Falls Market

3,100 Quaternary Units Recapped by Tzadik in Groundbreaking Two-State Portfolio, Invests in Booming Sioux Falls Market

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Tzadik Management closed on their latest attainment of 721 apartments in Sioux Falls, South Dakota in unique fashion on Monday. While simultaneously re-capitalizing on most of their Florida portfolio that was initially acquired back in 2014, Tzadik Management obtained the capital needed to close on multiple new apartment communities. This is yet another acquisition this year for Tzadik, who have closed on deals in Texas and Georgia in 2018.

This latest transaction is in line with the company’s recent investment strategy, targeting secondary, tertiary and quaternary markets to help facilitate their rapid portfolio growth despite inflated and distorted real estate markets. “We feel strongly that this latest addition allows us to both diversify our portfolio and increase our financial levers ahead of our industry competitors,” said Chief Financial Officer, Austin Griffin.

As one of the most fundamentally sound markets in the United States, Sioux Falls was very intriguing, providing some of the lowest unemployment rates in the US and a tremendous lack of rental supply despite the surging population growth. “Sioux Falls exhibits a multitude of demographic factors that should survive this ‘Melt Up’ and the forthcoming Big Short 2.0,” said Chief Executive Officer, Adam Hendry. These economic factors were the deciding influence for Hendry, who spearheaded the deal alongside Senior Vice President of Business Development, Michael Davalos. Davalos, who has been with Tzadik for the last several years, has helped entrench the company in several new emerging markets across the United States.

Tzadik structured what could be considered deal of the year, where $20M in preferred equity was raised via a family office with only a current pay, no accrual or profit share, thus reinvesting it in Sioux Falls, capitalizing on a healthy cash flow arbitrage by a loan from an institutional family office.

Tzadik is a growing, innovative, and driven real estate and property management company based in Miami, Florida. Since its formation in 2007, Tzadik has managed over $800 million in apartment complexes and over 15,000 units in over 20 states as well as the Caribbean. Through excellent management, a focus on company culture, and a tech driven style of operating, Tzadik management has established a reputation for building lasting relationships.

3,100 Quaternary Units Recapped by Tzadik in Groundbreaking Two-State Portfolio, Invests in Booming Sioux Falls Market

3,100 Quaternary Units Recapped by Tzadik in Groundbreaking Two-State Portfolio, Invests in Booming Sioux Falls Market

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MIAMI, Oct. 15, 2018 (GLOBE NEWSWIRE) — Tzadik Management closed on their latest attainment of 721 apartments in Sioux Falls, South Dakota in unique fashion on Monday. While simultaneously re-capitalizing on most of their Florida portfolio that was initially acquired back in 2014, Tzadik Management obtained the capital needed to close on multiple new apartment communities. This is yet another acquisition this year for Tzadik, who have closed on deals in Texas and Georgia in 2018.

This latest transaction is in line with the company’s recent investment strategy, targeting secondary, tertiary and quaternary markets to help facilitate their rapid portfolio growth despite inflated and distorted real estate markets. “We feel strongly that this latest addition allows us to both diversify our portfolio and increase our financial levers ahead of our industry competitors,” said Chief Financial Officer, Austin Griffin.

As one of the most fundamentally sound markets in the United States, Sioux Falls was very intriguing, providing some of the lowest unemployment rates in the US and a tremendous lack of rental supply despite the surging population growth. “Sioux Falls exhibits a multitude of demographic factors that should survive this ‘Melt Up’ and the forthcoming Big Short 2.0,” said Chief Executive Officer, Adam Hendry. These economic factors were the deciding influence for Hendry, who spearheaded the deal alongside Senior Vice President of Business Development, Michael Davalos. Davalos, who has been with Tzadik for the last several years, has helped entrench the company in several new emerging markets across the United States.

Tzadik structured what could be considered deal of the year, where $20M in preferred equity was raised via a family office with only a current pay, no accrual or profit share, thus reinvesting it in Sioux Falls, capitalizing on a healthy cash flow arbitrage by a loan from an institutional family office.

Tzadik is a growing, innovative, and driven real estate and property management company based in Miami, Florida. Since its formation in 2007, Tzadik has managed over $800 million in apartment complexes and over 15,000 units in over 20 states as well as the Caribbean. Through excellent management, a focus on company culture, and a tech driven style of operating, Tzadik management has established a reputation for building lasting relationships.

Over 1,000 Off-Market Units Bought by Tzadik Management

Over 1,000 Off-Market Units Bought by Tzadik Management

ATLANTA, April 12, 2018 (GLOBE NEWSWIRE) — Tzadik Management announced Monday the acquisition of six off market, direct to seller, multi-family apartment communities in the state of Georgia. This acquisition totals 1,010 units that span between Houston, Dougherty and Clayton Counties. This marks yet another group of properties Tzadik has acquired outside the state of the Florida.

A groundbreaking acquisition for Tzadik Management, they now own and manage 27 communities throughout the Southeastern United States. “We are very excited to have been able to execute this acquisition. We have been looking to break back into the Georgia market for some time and we really felt this was the best opportunity to make it happen” said Founder and CEO, Adam Hendry.

Alexander Kaushansky, Vice President, Originations at Arbor Realty Trust, Inc., helped arrange acquisition financing for the portfolio. “It was a pleasure assisting on this sizeable reentry into the Georgia market,” Kaushansky said. “Tzadik has a strong vision for the future of these properties, and Arbor was able to support that vision with customized bridge financing combining excellent loan terms, speed and certainty of execution.”

Closing at just over $36 million, this deal is their largest acquisition since 2016 when they acquired 1,244 units across Orlando and Daytona Beach. This expansion is a trend the company is looking to continue. “We felt that this deal fit in line with our 5 year strategy of acquiring assets in secondary and tertiary markets to get us to 100,000 units” said Chief Investment Officer, Alex Arguelles. Tzadik has become one of the fastest growing Management companies in the Southeast over the past several years.

Tzadik is a fast growing, innovative, and driven real estate and property management company based in Miami, Florida. Since its formation in 2007, Tzadik has managed over $700 million in apartment complexes and over 11,000 units in over 20 states as well as the Caribbean. Through excellent management, a focus on company culture, and a tech driven style of operating, Tzadik management has established a reputation for building lasting relationships.

 

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https://www.cnbc.com/2018/04/12/globe-newswire-over-1000-off-market-units-bought-by-tzadik-management.html

DLP Capital Partners Completes One of Our Largest Equity Deals to Date

DLP Capital Partners Completes One of Our Largest Equity Deals to Date

DLP recently partnered with Tzadik Management on a Senior Equity Partnership that represents one of our largest equity deals to date, at over $36 million. Recently closed in early April, it is an acquisition of 6 apartment communities totaling 1,010 units located in College Park, Warner Robins, and Albany, Georgia. DLP provided 80% of the overall equity to make this purchase.

Tzadik Management, an asset management and real estate developer, is based out of southern Florida. Larry Hickernell, Investor Success Manager at DLP Capital Partners, commented, “We have a good synergy with Tzadik. We analyze and perform due diligence on acquisitions very similarly as well as a mutual interest in the same types of properties and overall strategy of investing in value-added B & C class communities in secondary and tertiary markets.”

Hickernell continued, “Investing in this acquisition as the Senior Preferred Equity partner gives us the opportunity to increase consistency in our returns to investors and decrease risk. This strategy is a big part of DLP’s direction forward and the focus of DLP’s newest fund, the DLP Preferred Returns Equity Fund that will be offered late April to mid-May.”

 

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DLP Capital Partners Completes One of Our Largest Equity Deals to Date

Over 1,000 Off-Market Units Bought by Tzadik Management

Over 1,000 Off-Market Units Bought by Tzadik Management

ATLANTA, April 12, 2018 (GLOBE NEWSWIRE) — Tzadik Management announced Monday the acquisition of six off market, direct to seller, multi-family apartment communities in the state of Georgia. This acquisition totals 1,010 units that span between Houston, Dougherty and Clayton Counties. This marks yet another group of properties Tzadik has acquired outside the state of the Florida.

A groundbreaking acquisition for Tzadik Management, they now own and manage 27 communities throughout the Southeastern United States. “We are very excited to have been able to execute this acquisition. We have been looking to break back into the Georgia market for some time and we really felt this was the best opportunity to make it happen” said Founder and CEO, Adam Hendry.

Alexander Kaushansky, Vice President, Originations at Arbor Realty Trust, Inc., helped arrange acquisition financing for the portfolio. “It was a pleasure assisting on this sizeable reentry into the Georgia market,” Kaushansky said. “Tzadik has a strong vision for the future of these properties, and Arbor was able to support that vision with customized bridge financing combining excellent loan terms, speed and certainty of execution.”

Read More Here:

https://finance.yahoo.com/news/over-1-000-off-market-122102384.html

Tzadik Management Completes Sale of $15.8M Portfolio

Tzadik Management Completes Sale of $15.8M Portfolio

Tzadik Management announced Monday the sale of their last property in Miami Dade County. This marks the final sale of their inaugural portfolio, that began with acquisitions in 2010.

‘Opa-Locka Holdings’ was a 9-property portfolio spanning across the Liberty City and Opa-Locka area. The assets were acquired individually in various distressed states starting in 2010, introducing Tzadik into the Multi-Family industry. On Thursday August 24th, “7001 Building” located in Liberty City, was sold. This completed the sale of the entire portfolio, selling for over $15.8 million.

Many of these assets were acquired as vacant shells that required extensive exterior and interior rehabilitation to be suitable for occupancy. These properties were renovated and stabilized prior to sale. “These assets were an array of short sales, foreclosures and other distressed real-estate opportunities. We are extremely happy we were able to complete our turnaround strategies and create value for our investors” said Chief Investment Officer, Alex Arguelles.

Throughout their 7-year ownership of the properties, Tzadik helped turnaround both the assets and the neighboring areas, “We made a difference in the community and we are happy to see our vision executed” said Chief Executive Officer, Adam Hendry.

Tzadik is a fast growing, innovative, and driven real estate and property management company based in Miami, Florida. Since its formation in 2007, Tzadik has managed over $700 million in apartment complexes and over 10,000 units throughout the entire state of Florida. Through excellent management, a focus on company culture, and a tech driven style of operating, Tzadik management has established a reputation for building lasting relationships. Continue to be on the lookout for similar dealings in the near future.