SOURCE: Tzadik Management

Tzadik Management

October 22, 2014 11:00 ET

Tzadik Management Closes on 2,199 Apartments, Largest of Its Type in State of Florida

Innovative Company Adds Substantial off Market Purchase to Real Estate Portfolio

MIAMI, FL--(Marketwired - Oct 22, 2014) -  Tzadik Management announced today the off market acquisition of 2,199 apartments across the state of Florida with a total purchase price of $81 million. This marks 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. The company successfully financed and purchased 13 multifamily communities in the major Florida markets of Tampa Bay, Orlando, Lakeland, Sarasota and Jacksonville.

"We look to purchase off market and special circumstance real estate," said Adam M. Hendry, President and Managing Member of Tzadik Management. "This acquisition completely encapsulates our investment philosophy and the future of our company."

Tzadik is a rapidly growing, full-scale, opportunistically driven real estate company based in Miami, Florida. Since its creation in 2007, Tzadik has grown to own and manage over $300 million in apartment complexes and luxury condo developments. Tzadik's business model is to be ahead of the curve while applying industry best practices. Tzadik views all members of the process a part of Tzadik's family, be it: vendors, employees, capital partners, investors, or residents. Through a superior process and innovation, Tzadik creates an environment for success, health and happiness for all members of the Tzadik family.

The deal was a combined effort by Tzadik team members including Adam M. Hendry, David Runyon, Matt McCallister and Alex Arguelles. The company's development team is renowned for identifying off-market properties in key areas around the U.S. In addition, Tzadik has also recently ventured into the development of upscale, luxury and contemporary residential projects. Tzadik now sits among the larger players in Florida with almost 3,500 apartments and over 100 employees. 

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