Tzadik Management’s Adam Marcus Hendry enters Houston Market with 1,275 Unit Acquisition

YAHOO FINANCE
Press Release

Fresh off the heels of their latest purchase in Sioux FallsTzadik Management closed Friday, November 15th on the acquisition of a 5-community portfolio, totaling 1,275 units, in Houston, Texas.

Fresh off the heels of their latest purchase in Sioux FallsTzadik Management closed Friday, November 15th on the acquisition of a 5-community portfolio, totaling 1,275 units, in Houston, Texas.

Tzadik Management’s Regional Vice President, Debbie Wheatley, who has thrived in the Houston Market for years is excited to get started. “More than anything I am just excited to bring the unique culture and engagement I have seen in my time with Tzadik,” said Wheatley. “We have been given a chance to make a difference in our community and Redefine how these communities operate moving forward”.

The 5-community portfolio is listed below:

  • Crossings at Jackson Square – 8030 Airport, Houston, TX 77071

  • Crossings at Bradford Place – 8300 W Airport, Houston, TX 77071

  • Shadowtree – 9475 W Sam Houston Parkway, Houston, TX 77099

  • Cresent City – 8501 Broadway, Houston, TX 77061

  • Casa Royal – 9445 Concourse, Houston, TX 77036

While Tzadik Management’s recent investment strategy has brought them mostly toward the upper Midwest, Chief Executive Officer Adam Marcus Hendry believes Houston shares a lot of similar attributes that made the Midwest so appealing. “This deal helps us continue to establish our footprint in middle America, where we believe the steady population growth combined with their energy and oil supply should help mitigate the upcoming stagflation,” said Adam Marcus Hendry.

With property values continuing to climb at a rapid pace, Tzadik Management has begun looking into acquiring management companies to continue their growth. “Buying wholesale brings a lot of positives to the table. We believe we can close at close to 20 or 30 percent below market while also jumping the Death Valley curve” said Adam Marcus Hendry. Tzadik Management is also looking into commercial real estate acquisition, with many due diligence projects currently underway.

Tzadik Management 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 $1 billion in apartment complexes and over 19,000 units in over 20 states. 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.

Tzadik sells 196 unit community for $15,750,000 in Atlanta at a record breaking price per door

Tzadik sells 196 unit community for $15,750,000 in Atlanta at a record breaking price per door

YAHOO FINANCE
Press Release

Tzadik Management closed late Wednesday afternoon on the sale of a 196-unit community located near Atlanta, GA. The sale, totaling well over $15.5M, was the third community Tzadik has sold in the past two months.

ATLANTA, Oct. 18, 2019 (GLOBE NEWSWIRE) — Tzadik Management closed late Wednesday afternoon on the sale of a 196-unit community located near Atlanta, GA. The sale, totaling well over $15.5M, was the third community Tzadik has sold in the past two months. Closing on two Albany area communities in Q3, Tzadik still has decided to strategically keep a Georgia footprint via locations in Warner Robins, GA. 

This sale ranks amongst the highest in price per door for workforce housing in the Atlanta area, with their price of $80,357 per door more than doubling their purchase price at under $40,000 just a year and a half ago. “This is a true testament to the amazing work of our construction and asset management teams,” said Chief Executive Officer, Adam Marcus Hendry. “We were pleasantly surprised with how quickly we were able to reposition the community given the various market factors we had to deal with.”

This is the first of many moves the company plans to make in Q4. In addition to adding several communities in Houston, Omaha, Sioux Falls and Rapid City, Tzadik is set to break into the North Dakota market with properties set to close in both Dickinson and Fargo. The company is also planning to break back into the commercial real-estate market, eyeing up to 60 properties in the Central Florida region via buying a company.

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 $1 billion in apartment complexes and commercial real estate, totaling over 19,000 units in more than 20 states. 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.

Tzadik Breaks Ground in Omaha, Eyes Additional Midwest Markets

Tzadik Breaks Ground in Omaha, Eyes Additional Midwest Markets

Market Watch
Press Release

Tzadik closed on their first community in Nebraska late last week, acquiring City View Apartments, a 221-unit building located in downtown Omaha.

OMAHA, Neb., Sep 04, 2019 (GLOBE NEWSWIRE via COMTEX) — OMAHA, Neb., Sept. 04, 2019 (GLOBE NEWSWIRE) — Tzadik closed on their first community in Nebraska late last week, acquiring City View Apartments, a 221-unit building located in downtown Omaha. This is the latest acquisition in line with Tzadik’s recent investment strategy, further adding to their rapidly growing Midwest portfolio. A “Melt-Up” projection aligned with lowering interest rates helped spark the company’s interest in the market in 2017. 

Fresh off several acquisitions in Sioux Falls, Tzadik has been quick to scope out additional investment opportunities. “We have had Omaha in our sights for several months now. We are excited about the opportunity City View provides and plan to provide the best management possible,” says Regional Vice President, Tessa Frank. 

In addition to Omaha, Tzadik has plans to enter several new markets in the coming months. “Right now, we are really just going where the opportunities take us. Like we projected, interest rates have dropped substantially and will continue to do so, and have we positioned ourselves to take full advantage,” said Chief Executive Officer, Adam Hendry. “We hope to close in several Midwest markets such as Rapid City and Fargo and are exploring additional special circumstance opportunities as far south as Houston at the moment.” 

As they head into the latter stages of their twelfth year, Tzadik has established themselves as major players in the multi-family industry thanks to special situational acquisitions, including non-performing loans in alternative asset classes like agriculture and farming. With acquisitions taking place across the country, Tzadik’s knack for timely and cost-effective acquisitions and sales have helped rapidly expand their portfolio.

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 communities and over 20,000 units in over 20 states. 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.

“Melt Up” 1970’s “Stagflation” Projection still the forecast by Tzadik, continues Midwest push

“Melt Up” 1970’s “Stagflation” Projection still the forecast by Tzadik, continues Midwest push

Star Tribune
Press Release

A few weeks after closing on their third acquisition in South Dakota in under a year, Tzadik Management is gearing up for another large push throughout the entire Upper Midwest region

SIOUX FALLS, S.D., July 29, 2019 (GLOBE NEWSWIRE) — A few weeks after closing on their third acquisition in South Dakota in under a year, Tzadik Management is gearing up for another large push throughout the entire Upper Midwest region. In addition to a new large acquisition in South Dakota, Tzadik plans on expanding into North Dakota, Nebraska and other potential states in the coming months.  

As what they believe to be the soundest market regions in the United States, the upper Midwest provides a very intriguing opportunity with some of the lowest unemployment rates in the US and an overall lack of rental supply despite the booming population growth. “The stability of the Midwest combined with our company culture, performance management and overall experience are all positive indicators toward us ensuring our strategy gets executed,” said Executive Vice President, Michael Davalos. 

Tzadik has even dipped into the commercial real estate market, purchasing a large office space in downtown Sioux Falls and plans to continue to explore similar opportunities moving forward. “Commercial isn’t something new to us necessarily, it has just been hard to make sense of it recently based on existing cash flow. We realized to make a permanent stake in the market, we needed both an office and strategic investment that has met and exceeded our criteria,” said Chief Executive Officer, Adam Hendry. 

Tzadik’s initial plunge into the Midwest has been driven by a “Melt-Up” and potential Stagflation 1970’s projection from the company’s executive team. “If the federal reserve is truly determined to drop rates before any sustained market pull back, then we have to be prepared for a Melt-Up, not a Melt-Down,” continued Hendry. “Everyone thinks they are preparing for another 2008, but most likely we think the upcoming crash with be much different.” 

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.

 

Tzadik adds 3 additional communities in Sioux Falls, completes 12.8M acquisition

Tzadik adds 3 additional communities in Sioux Falls, completes 12.8M acquisition

SIOUX FALLS, S.D., July 03, 2019 (GLOBE NEWSWIRE) — Tzadik Management closed on an additional 3 communities in Sioux Falls Monday, expanding on their growing presence in the market. The 12.8M purchase is the third acquisition that has Tzadik has made in Sioux Falls since October of 2018, bringing them to 25 total communities and over 1,350 apartment homes. 

This comes on the heels of the ribbon cutting of their new leasing office located near downtown Sioux Falls. Tzadik Management recently joined the cities Chamber of Commerce, aiming to further involve themselves in the city’s development. The new offices location also allows for the team to maintain more immediate access to their communities.

The newest communities added to the portfolio are:

  • Turning Leaf – 1311 N. Cleveland Ave, Sioux Falls, SD 57103
  • Brookshire – 609 N. Cleveland Ave, Sioux Falls, SD 57103
  • Woodstone – 3113 W. 12th St, Sioux Falls, SD 57104

Tzadik has begun to more aggressively tap into the Sioux Falls talent market, highlighted by the addition of Regional Vice President, Tessa Frank. “Having worked in Sioux Falls for several years, I am delighted to see Tzadik continue to be apart of the cities growth. I’m excited about the team we are building and look forward to helping make a difference in our community” said Frank. Gearing their recruiting efforts toward local talent, combined with unparalleled company culture and industry leading benefits packages, Tzadik has seen immediate returns from their latest team additions. “Having a team that has been in Sioux Falls for many years has really been a bonus for us and we are eager to see where it takes us” added Frank.

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. 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.

Tzadik acquires 4 additional communities in Sioux Falls

Tzadik acquires 4 additional communities in Sioux Falls

Press Release

Tzadik adds 4 communities to their Sioux Falls Portfolio

Tzadik Management acquired 4 new communities in Sioux Falls last week bringing their community count to 22. The 4 communities, totaling over 430 apartments, bring Tzadik’s total apartment count to well over 1,000 in Sioux Falls alone.

With communities located all around Sioux Falls, the team is well equipped to onboard the newest additions. Similar to their existing product, Tzadik plans to put in millions in capital improvements in an effort to help invigorate the communities. “We saw an opportunity to add to what we are building here” said Chief Executive Officer, Adam Hendry. “These communities fell right in line with our strategy and we are excited to have the opportunity to grow”.

The 4 new additions are located at:

 

  • Mallard Cove – 2000 W. 6th St, Sioux Falls, SD 57104
  • Parkside – 4304 E. 18th St, Sioux Falls, SD 57103
  • Cleveland Heights – 2708 E. 8th St, Sioux Falls, SD 57103
  • Willowwood – 1600 S. Rock Creek Dr, Sioux Falls, SD 57103

 

Tzadik plans to continue to monitor opportunities not just in Sioux Falls, but throughout the entire Midwest region. “We like a lot from what we have seen so far in our due diligence and I would expect to see many more acquisitions like this in the near future” claimed Hendry.

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. 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.