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.