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.
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.
Tzadik Management has acquired another Tampa area Multi-Family community. Timberfalls Apartments, located at 2600 E. 113th Ave, is a 2-story, 184 unit apartment complex consisting of both 1 and 2 bedroom units.
This acquisition marks now the 5th property Tzadik has purchased in the Tampa area, all within the same 5-mile radius.
Tzadik Management has closed on the sale of the ‘NOBE House’ property, located at 8505 Harding Ave in North Miami Beach. The property was initially purchased by Tzadik in 2014 and just sold for over $5M.
The 24-unit project was sold to the Aventura-based Stark Development LLC.
Tzadik Management has expanded their Tampa area Multi-Family community with the purchase of the 453-unit community formally known as University Oakwoods, located at 1250 E. 113th Ave in Tampa, FL.
This is now the 4th property owned and operated by Tzadik in the North Tampa area. Tzadik has changed the Complex name to ‘Tzadik Oaks’ and plans to do large scale renovations to rejuvenate the property.
Tzadik Management, a premiere development group in Miami, announced the acquisition of 2,199 apartments across the state of Florida, the largest acquisition of its type on a per unit basis in the state of Florida and among the top for the United States in 2014.
Article featured in Miami Agent Magazine that speaks about Tzadik Management’s successful finance and purchase 13 multifamily communities in the major Florida markets of Tampa Bay, Orlando, Lakeland, Sarasota and Jacksonville. Read full article Here.