Tzadik Management Announces Sale of of River Gardens Apartments

Tzadik Management Announces Sale of of River Gardens Apartments

Tzadik Management has closed on the sale of the River Gardens Apartment Complex, located at 2300 NW 6th Street in Fort Lauderdale, FL. The 12-unit Apartment Complex was acquired by a local buyer after after Tzadik owned the complex for nearly 18 months.

Several renovations took place during the tenure of Tzadik’s ownership, as well as a thorough stabilization process. This strategy resulted in a profit at sale that exceeded profoma calculations and a established a continued trend of distressed real-estate transformations. “Completing this sale is a true full circle moment for us” said Chief Acquisitions Officer, Alex Arguelles, “The speed in which we took this dilapidated shell and renovated it into a fully occupied Apartment complex is encouraging.”

Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.

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Tzadik Management adds to Tampa Portfolio

Tzadik Management adds to Tampa Portfolio

Tzadik Management has acquired another Tampa area Multi-Family community. Timberfalls Apartments, located at 2600 E. 113th Ave, is a 2-story, 184 unit apartment complex consisting of both 1 and 2 bedroom units.

This acquisition marks now the 5th property Tzadik has purchased in the Tampa area, all within the same 5-mile radius. This comes just a few months after Tzadik acquired University Oakwoods, less than a mile from Timberfalls. Tzadik plans to make several renovations to the complex over the coming months.

“We have had our eye on this property for awhile” said Chief Executive Officer, Adam Hendry. “Being able to own and operate such a large amount of properties in this area really helps spread our name and message. Our goal is to be a top industry name in that area and I believe we are right on track.”

Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.

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‘NOBE House’ Project sells for over $5M

‘NOBE House’ Project sells for over $5M

Tzadik Management has closed on the sale of the ‘NOBE House’ property, located at 8505 Harding Ave in North Miami Beach. The property was initially purchased by Tzadik in 2014 and just sold for over $5M.

The 24-unit project was sold to the Aventura-based Stark Development LLC. Fortune International Realty agent Michael Davalos acted as the representative for seller, who after working with the city of Miami Beach, has decided to turn the Condo Project into a Hotel.

Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.

 

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Tzadik Management Acquires Newest Tampa Property

Tzadik Management Acquires Newest Tampa Property

Tzadik Management has expanded their Tampa area Multi-Family community with the purchase of the 453-unit community formally known as University Oakwoods, located at 1250 E. 113th Ave in Tampa, FL.

This is now the 4th property owned and operated by Tzadik in the North Tampa area. Tzadik has changed the Complex name to ‘Tzadik Oaks’ and plans to do large scale renovations to rejuvenate the property.

“We see so much potential in this property and we can’t wait to get started” said Chief Acquisitions Officer, Alex Arguelles. “I believe our past acquisitions have really prepared us to tackle such a large project in Tzadik Oaks, I can’t wait to see the finished product.”

Tzadik plans to conduct renovations to all Loft and Studio Units within the community, while also adding several upgraded amenities to the complex, such as a Pool and Spa area and brand new Fitness Center.

Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.

Tzadik Management Closes $81 Million Acquisition

Tzadik Management Closes $81 Million Acquisition

Tzadik Management, a premiere development group in Miami, announced the acquisition of 2,199 apartments across the state of Florida, the largest acquisition of its type on a per unit basis in the state of Florida and among the top for the United States in 2014.

The company successfully financed and purchased 13 multifamily communities in the major Florida markets of Tampa Bay, Orlando, Lakeland, Sarasota and Jacksonville. The deal was a combined effort by Tzadik team members including Adam M. Hendry, David Runyon, Matt McCallister and Alex Arguelles. Hendry, President and Managing Member of Tzadik Management, said the purchased of these multifamily communities represents the company’s philosophy and future.

“We look to purchase off market and special circumstance real estate,” said Hendry. “This acquisition completely encapsulates our investment philosophy and the future of our company.”

Since its creation in 2007, Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As a rapidly growing, full-scale, opportunistically driven real estate company based in Miami, Florida, Tzadik tries to be ahead of the curve while applying industry best practices. Tzadik’s team is experienced in buying, owning and managing properties in not just class-a locations, but also difficult neighborhoods. The company also specialize in helping distressed owners and sellers reposition their properties to ensure that the asset does not deteriorate and that sales price is maximized.

The company views all members of the process a part of Tzadik’s family, be it: vendors, employees, capital partners, investors, or residents. The development team is renowned for creating upscale, luxury and contemporary residential projects. Tzadik now sits among the larger players in Florida with almost 3500 apartments and over 100 employees as the company tries to create an environment for success, health and happiness for all members of the Tzadik family through a superior process and innovation.

For more information, visit tz-m.com.