Tzadik Management Acquires Full-Service Brokerage, Expands on Growing Commercial Footprint

Tzadik Management Acquires Full-Service Brokerage, Expands on Growing Commercial Footprint

BUSINESS
INSIDER
Press Release

Tzadik Management Acquires Full-Service Brokerage, Expands on Growing Commercial Footprint

MIAMI, Feb. 03, 2020 (GLOBE NEWSWIRE) — Tzadik Management closed late Friday on the acquisition of a full-service commercial brokerage real estate firm; marking the first acquisition for the rapidly growing property management company in 2020. While Tzadik currently owns and manages commercial real estate nationwide, this deal marks the first time Tzadik has acquired a commercial brokerage real estate firm.

Tzadik’s purchase includes management contracts for 60 locations totaling over 2.5 million square feet of retail, office, medical and industrial type properties. “We could not be more excited to get started. This allows us to continue our company’s growth while expanding our footprint through the entire real estate market,” said CEO, Adam Marcus Hendry. “We firmly believe in exploring all options and this is one we have had our eye on for a while.”

David Runyon, Chief Visionary Officer of Tzadik Management, says, “This business acquisition is a big step forward in our goal to become a top 50 property management company. This year we will continue to strategically target property management partners whose core values align with our own, while also expanding our real estate investments in the Upper Midwest and other special circumstance acquisitions.”

Overseeing the on-boarding and transition is Tzadik Management’s Chief People Officer, Christine Alletto. “We can’t wait to integrate with the team and start building on an already stellar reputation,” said Alletto. “Our culture and proven processes will thrive in this industry.”

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 $1 billion in apartment complexes, over 15 million square feet of commercial real estate and over 19,000 units in over 20 states. 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.

 

Tzadik Management closes out 2019 with $12.6M purchase in Rapid City

Tzadik Management closes out 2019 with $12.6M purchase in Rapid City

GLOBE NEWSWIRE
Press Release

Tzadik Management closes out 2019 with $12.6M purchase in Rapid City

RAPID CITY, S.D., Dec. 30, 2019 (GLOBE NEWSWIRE) — Tzadik Management broke ground in Rapid City, SD last week with the 12.6M purchase of 2 new apartment communities totaling 261 units. This acquisition is the latest in a line of recent upper Midwest acquisitions for Tzadik in 2019. “We have been strategically looking for the right deal to break into Rapid City for just over a year now. This market has historically been resilient to economic downturns during past recessions. We see in Rapid City a robust, diverse, and growing population which is highly educated and creating jobs that are in demand for this region,” said Michael Davalos, Executive Vice president at Tzadik in charge of acquisitions and capital raising. “This deal is the culmination of the local relationships we built over the last year. This is helping us to find the best deals possible for our investors to have a safe haven to invest in,” Davalos said. 

Tzadik plans to put over $1M in capital improvement into the communities over the next year to go along with bringing in a local staff the help with the transition. “We have built some very strong connections in this market over the past year and are very excited to bring Tzadik’s unique redefining culture to Rapid City,” said Regional Vice President, Tessa Frank.  

This marks the second upper Midwest acquisition for Tzadik in December to go along with a massive 1,275-unit acquisition in Houston in mid-November. Moving forward into 2020, Tzadik plans to not only continue their growth in the Midwest but also venture back into other avenues such as commercial realestate. “We are very eager to explore different openings moving forward, the first of which being us redefining our growth and how we look at opportunities,” said Chief Executive Officer, Adam Marcus Hendry.

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 19,000 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.

If you think you have a deal for us or are interested in investing, please contact Michael Davalos.

Tzadik Management’s Adam Marcus Hendry enters Houston Market with 1,275 Unit Acquisition

Tzadik Management’s Adam Marcus Hendry enters Houston Market with 1,275 Unit Acquisition

YAHOO FINANCE
Press Release

Fresh off the heels of their latest purchase in Sioux FallsTzadik Management closed Friday, November 15th on the acquisition of a 5-community portfolio, totaling 1,275 units, in Houston, Texas.

 

           Fresh off the heels of their latest purchase in Sioux Falls, Tzadik Management closed Friday, November 15th on the acquisition of a 5-community portfolio, totaling 1,275 units, in Houston, Texas. This purchase was sourced in house by Michael Davalos who is leading acquisitions for Tzadik. “This deal is the culmination of over two years of relationship building in the Texas market” Houston is a highly competitive market with nearly every institution seeking value add deals said Davalos. 

 

This deal was unique for us, in that we were fortunate to capitalize on relationships to put a deal together with three great partners, all pitching in strategically to achieve our goals. The other partners, Elevate investments, Crown Capital Ventures, and Circle Capital Partners all played a strategic role in helping to close.

 

            Tzadik Management’s Regional Vice President, Debbie Wheatley, who has thrived in the Houston Market for years is excited to get started. “More than anything I am just excited to bring the unique culture and engagement I have seen in my time with Tzadik” said Wheatley. “We have been given a chance to make a difference in our community and Redefine how these communities operate moving forward”

            The 5-community portfolio is listed below:

 

  • Crossings at Jackson Square – 8030 Airport, Houston, TX 77071
  • Crossings at Bradford Place – 8300 W Airport, Houston, TX 77071
  • Shadowtree – 9475 W Sam Houston Parkway, Houston, TX 77099
  • Cresent City – 8501 Broadway, Houston, TX 77061
  • Casa Royal – 9445 Concourse, Houston, TX 77036

 

            While Tzadik Management’s recent investment strategy has brought them mostly toward the upper Midwest, Chief Executive Officer Adam Marcus Hendry believes Houston shares a lot of similar attributes that made the Midwest so appealing. “This deal helps us continue to establish our footprint in middle America, where we believe the steady population growth combined with their energy and oil supply should help mitigate the upcoming stagflation” said Adam Marcus Hendry.

            With property values continuing to climb at a rapid pace, Tzadik Management has begun looking into acquiring management companies to continue their growth. “Buying wholesale brings a lot of positives to the table. We believe we can close at close to 20 or 30 percent below market while also jumping the Death Valley curve” said Adam Marcus Hendry. Tzadik Management is also looking into commercial real estate acquisition, with many due diligence projects currently underway.

Tzadik Management 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 $1 billion in apartment complexes and over 19,000 units in over 20 states. 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.

If you think you have a deal for us or are interested in investing, please contact Michael Davalos  

Tzadik sells 196 unit community for $15,750,000 in Atlanta at a record breaking price per door

Tzadik sells 196 unit community for $15,750,000 in Atlanta at a record breaking price per door

YAHOO FINANCE
Press Release

Tzadik Management closed late Wednesday afternoon on the sale of a 196-unit community located near Atlanta, GA. The sale, totaling well over $15.5M, was the third community Tzadik has sold in the past two months.

ATLANTA, Oct. 18, 2019 (GLOBE NEWSWIRE) — Tzadik Management closed late Wednesday afternoon on the sale of a 196-unit community located near Atlanta, GA. The sale, totaling well over $15.5M, was the third community Tzadik has sold in the past two months. Closing on two Albany area communities in Q3, Tzadik still has decided to strategically keep a Georgia footprint via locations in Warner Robins, GA. 

This sale ranks amongst the highest in price per door for workforce housing in the Atlanta area, with their price of $80,357 per door more than doubling their purchase price at under $40,000 just a year and a half ago. “This is a true testament to the amazing work of our construction and asset management teams,” said Chief Executive Officer, Adam Marcus Hendry. “We were pleasantly surprised with how quickly we were able to reposition the community given the various market factors we had to deal with.”

This is the first of many moves the company plans to make in Q4. In addition to adding several communities in Houston, Omaha, Sioux Falls and Rapid City, Tzadik is set to break into the North Dakota market with properties set to close in both Dickinson and Fargo. The company is also planning to break back into the commercial real-estate market, eyeing up to 60 properties in the Central Florida region via buying a company.

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 $1 billion in apartment complexes and commercial real estate, totaling over 19,000 units in more than 20 states. 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.

Tzadik Breaks Ground in Omaha, Eyes Additional Midwest Markets

Tzadik Breaks Ground in Omaha, Eyes Additional Midwest Markets

Market Watch
Press Release

Tzadik closed on their first community in Nebraska late last week, acquiring City View Apartments, a 221-unit building located in downtown Omaha.

OMAHA, Neb., Sep 04, 2019 (GLOBE NEWSWIRE via COMTEX) — OMAHA, Neb., Sept. 04, 2019 (GLOBE NEWSWIRE) — Tzadik closed on their first community in Nebraska late last week, acquiring City View Apartments, a 221-unit building located in downtown Omaha. This is the latest acquisition in line with Tzadik’s recent investment strategy, further adding to their rapidly growing Midwest portfolio. A “Melt-Up” projection aligned with lowering interest rates helped spark the company’s interest in the market in 2017. 

Fresh off several acquisitions in Sioux Falls, Tzadik has been quick to scope out additional investment opportunities. “We have had Omaha in our sights for several months now. We are excited about the opportunity City View provides and plan to provide the best management possible,” says Regional Vice President, Tessa Frank. 

In addition to Omaha, Tzadik has plans to enter several new markets in the coming months. “Right now, we are really just going where the opportunities take us. Like we projected, interest rates have dropped substantially and will continue to do so, and have we positioned ourselves to take full advantage,” said Chief Executive Officer, Adam Hendry. “We hope to close in several Midwest markets such as Rapid City and Fargo and are exploring additional special circumstance opportunities as far south as Houston at the moment.” 

As they head into the latter stages of their twelfth year, Tzadik has established themselves as major players in the multi-family industry thanks to special situational acquisitions, including non-performing loans in alternative asset classes like agriculture and farming. With acquisitions taking place across the country, Tzadik’s knack for timely and cost-effective acquisitions and sales have helped rapidly expand their portfolio.

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 communities and over 20,000 units in over 20 states. 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.

“Melt Up” 1970’s “Stagflation” Projection still the forecast by Tzadik, continues Midwest push

“Melt Up” 1970’s “Stagflation” Projection still the forecast by Tzadik, continues Midwest push

Star Tribune
Press Release

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.