Tzadik Management acquires JM Real Estate
Commercial property management, leasing and sales company JM Real Estate Inc. was recently acquired by Tzadik Management, a multifamily property management company based in Miami-Dade County.
The acquisition includes management contracts for 60 locations, totaling more than 2.5 million square feet of retail, office, medical and industrial properties.
“We are thrilled to join our principles with Tzadik Management, a larger management company, and continue to expand outside our local market,” said JM Real Estate Director of Brokerage Services Jewel McDonald in a press release. “This acquisition allows us to stay competitive with today’s technological advancements in commercial property management and brokerage activities.”
JM Real Estate was founded in 1997 and has an estimated value of more than $300 million. In addition to multi-tenant office and retail spaces, the company has also been involved in a number of development projects.
A few of the projects that Tzadik Management currently manages are Tzadik Bay in Daytona Beach, Florida, and City View Apartments in Omaha, Nebraska. Since opening up in 2007, the company has managed more than $1 billion in apartment buildings, over 15 million square feet of commercial real estate, and more than 19,000 units in over 20 states.
Overseeing the onboarding and transition for the acquisition is Christina Alletto, chief people officer with Tzadik Management and president of JM Real Estate, Inc.
“We look forward to this integration and building on an already stellar reputation,” said Alletto in a press release. “Through excellent management, a focus on company culture, and a tech-driven style of operating, we are pleased to bring a new level of automation and customer service to the JM team.”