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. This strategy resulted in a profit at sale that exceeded profoma calculations and a established a continued trend of distressed real-estate transformations. “Completing this sale is a true full circle moment for us” said Chief Acquisitions Officer, Alex Arguelles, “The speed in which we took this dilapidated shell and renovated it into a fully occupied Apartment complex is encouraging.”
Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.