Tzadik Management Acquires Full-Service Brokerage, Expands on Growing Commercial Footprint
MIAMI, Feb. 03, 2020 (GLOBE NEWSWIRE) — Tzadik Management closed late Friday on the acquisition of a full-service commercial brokerage real estate firm; marking the first acquisition for the rapidly growing property management company in 2020. While Tzadik currently owns and manages commercial real estate nationwide, this deal marks the first time Tzadik has acquired a commercial brokerage real estate firm.
Tzadik’s purchase includes management contracts for 60 locations totaling over 2.5 million square feet of retail, office, medical and industrial type properties. “We could not be more excited to get started. This allows us to continue our company’s growth while expanding our footprint through the entire real estate market,” said CEO, Adam Marcus Hendry. “We firmly believe in exploring all options and this is one we have had our eye on for a while.”
David Runyon, Chief Visionary Officer of Tzadik Management, says, “This business acquisition is a big step forward in our goal to become a top 50 property management company. This year we will continue to strategically target property management partners whose core values align with our own, while also expanding our real estate investments in the Upper Midwest and other special circumstance acquisitions.”
Overseeing the on-boarding and transition is Tzadik Management’s Chief People Officer, Christine Alletto. “We can’t wait to integrate with the team and start building on an already stellar reputation,” said Alletto. “Our culture and proven processes will thrive in this industry.”
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 $1 billion in apartment complexes, over 15 million square feet of commercial real estate and over 19,000 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.