Eagle Properties Management Company sold its six-property multifamily portfolio totaling 1,244 units across Central Florida to Tzadik Management for $63 million, or about $51,000 per unit.
“The Eagle Apartments Portfolio offering was a rare opportunity to acquire a critical mass of units within some of the fastest-growing rental markets in Florida,” says Michael Donaldson, a vice president investments in Marcus & Millichap’s Tampa office.read more
By Bob Koslow and Clayton Park, email@example.com, firstname.lastname@example.org
DAYTONA BEACH — The former owners of Lohman Funeral Homes recently sold four apartment complexes in east Volusia County as part of a larger sale that included two apartment properties in Orlando.
The Lohman family have used some of the proceeds from the $63 million they received from the sale to Miami-based Tzadik Management to acquire another apartment complex in Daytona Beach.
“We didn’t intend to sell. They weren’t on the market,” said Lowell Lohman, who owned the complexes with his wife, Nancy, and son, Ty. “We got a nice offer and agreed to sell.”read more
Featured article with Nasdaq Global Newswire. The article speaks about Tzadik Management's major acquisition of six multi-family apartment communities spanning over both Orange and Volusia counties and totaling 1,244 units. Read Full Article Hereread more
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.”read more
Tzadik Management has closed on yet another Miami Beach sale. ‘Tzadik Boutique’, a 20-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.”read more
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. These operations resulted in a profit sale of over $300,000 and a continued trend of distressed real-estate transformations.read more
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.read more
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.read more
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.read more
This interview with Adam Hendry was recorded for an episode of Enterprise Radio in conjunction with eMiami (Greater Miami Entrepreneurs). The episode is titled: Miami's Tzadik Management, a rapidly growing, full-scale, opportunistically driven real estate company....read more