OPPORTUNITY
13-property portfolio spread over 6 separate counties in Florida were acquired in October of 2014, all requiring significant improvement. Assets were operated under non-ideal circumstances for over a year prior to acquisition.
EXECUTION
Tzadik quickly transitioned the properties to match company culture. Policies and procedures were implemented to help bring stability to the assets before more substantial changes took place. Enhanced unit turn procedures were employed to reduce turnover cost. Millions of dollars in property improvements were infused into the assets. Thorough staffing procedures were conducted to equip the properties with a staff that reflected company values and standards.
OUTCOME
• Seamless addition of 2,199 units to our existing
portfolio
• Appraised Value doubled in just 3 years
• Employee and Resident Satisfaction at all-time highs