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.