DLP recently partnered with Tzadik Management on a Senior Equity Partnership that represents one of our largest equity deals to date, at over $36 million. Recently closed in early April, it is an acquisition of 6 apartment communities totaling 1,010 units located in College Park, Warner Robins, and Albany, Georgia. DLP provided 80% of the overall equity to make this purchase.
Tzadik Management, an asset management and real estate developer, is based out of southern Florida. Larry Hickernell, Investor Success Manager at DLP Capital Partners, commented, “We have a good synergy with Tzadik. We analyze and perform due diligence on acquisitions very similarly as well as a mutual interest in the same types of properties and overall strategy of investing in value-added B & C class communities in secondary and tertiary markets.”
Hickernell continued, “Investing in this acquisition as the Senior Preferred Equity partner gives us the opportunity to increase consistency in our returns to investors and decrease risk. This strategy is a big part of DLP’s direction forward and the focus of DLP’s newest fund, the DLP Preferred Returns Equity Fund that will be offered late April to mid-May.”
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