Tzadik completes another turnaround, sells two Miami Apartment Buildings.

Tzadik completes another turnaround, sells two Miami Apartment Buildings.

In another step of analogous sales, Tzadik Management has sold two of their earlier assets, 1251 and 1281 NW 61st Street for  $1.45M million in early September.
Falling in line with their niche market approach of distressed real estate acquisition and turn-around, these sales act as a thorough illustration of their business model. “Looking back on these acquisitions, I am proud of what we were able to accomplish on this sale given the many challenges the properties posed” said Managing Director, Adam Hendry, “Our goal was to make a difference for all parties involved and I believe we did that”.
The sale is one of many transactions completed by Tzadik this year. “Being able to sell these two properties at the right price allows us to reinvest and expand into other markets. It was really an overwhelming success” said Chief Visionary Officer, David Runyon. Tzadik recently acquired 6 new properties in both Orange and Volusia counties, bringing their total units to over 4,500.
Tzadik has been active in the real estate market since 2007.  Today, they own over 30 different multi-family apartment communities in 10 different cities. They have owned and managed over $450 million in apartment complexes and condo developments throughout the state of Florida. As one of the most rapidly growing Multi-Family management companies in the state, they look towards more strategic acquisitions and expanding their institutional third party management platform both statewide, as well as in the southeast United States.
Tzadik Management Expands Over Daytona While Adding 1,244 Units to its Rapidly Growing Portfolio

Tzadik Management Expands Over Daytona While Adding 1,244 Units to its Rapidly Growing Portfolio

MIAMI, FL- August 11th, 2016—Tzadik Management is proud to announce the acquisition of six multi-family apartment communities spanning over both Orange and Volusia counties and totaling 1,244 units.

Tzadik adds two of the communities to their existing group of Orlando area properties while the remaining properties expand Tzadik into the greater Daytona area. Tzadik Founder and CEO, Adam M Hendry, is excited about the cascading effects of this purchase, “This has been a tremendous team effort enabling us to Make a Difference in the lives of so many people associated with this acquisition.”
 

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Tzadik closes another Miami Beach Sale

Tzadik closes another Miami Beach Sale

Tzadik Management has closed on yet another Miami Beach sale. ‘Tzadik Boutique’, a 28-unit 2 story apartment complex in the heart of Miami Beach, sold yesterday ending Tzadik’s 5 year ownership of the property. The sale of this property marks the second Miami Beach sale in the past year.

This sale caps the latest distressed property flip orchestrated by Tzadik, further establishing the trend they have set in past years. “We were able to take advantage of this opportunity to revitalize what at the time was a distressed and run down property” said Chief Acquisitions Officer, Alex Arguelles. “Our ability to recognize the potential in this area and capitalize on it is a good sign moving forward.”

‘Tzadik Boutique’, upon listing, quickly became one of the most sought after Apartment Communities after Tzadik’s ownership thanks to their commitment to cleaning up the area. “We love what we have been able to do with this property in the time that we’ve been able to own it” said Chief Visionary Officer, David Runyon. 

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 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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