Summer Lake Villas Portfolio: In May, Tzadik Management sold a portion of their portfolio consisting of 3 properties spanning over Fort Lauderdale, West Palm Beach and New Port Richey. Chief Visionary Officer, David Runyon, believes these…
Tzadik Management has closed on the sale of the 7136 Building, one of the earliest properties ever owned by Tzadik. The 20-unit apartment complex located at 7136 NW 14th Place, sold yesterday ending Tzadik’s 6-year ownership of the property.
Tzadik Management has closed on yet another Miami Apartment sale. The 2-Story, 36 Unit Garden Style Building located at 820 NW 70th Street in Miami, FL sold yesterday for $1.35 Million, ending Tzadik’s 5-year ownership of the property. This sale is the latest in a series of sales completed by Tzadik in the Miami area in the past year.
In another step of analogous sales, Tzadik Management has sold two of their earlier assets, 1251 and 1281 NW 61st Street for $1.45M million in early September.
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.
By Bob Koslow and Clayton Park, bo********@*******nl.com, cl**********@*******nl.com
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.”
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 Here
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.”
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.”
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.
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