$81 Million Portfolio Acquisition

Oct 28, 2014

The deal was a combined effort by Tzadik team members including Adam M. Hendry, David Runyon, Matt McCallister and Alex Arguelles.

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.

The company successfully financed and purchased 13 multifamily communities in the major Florida markets of Tampa Bay, Orlando, Lakeland, Sarasota and Jacksonville. The deal was a combined effort by Tzadik team members including Adam M. Hendry, David Runyon, Matt McCallister and Alex Arguelles. Hendry, President and Managing Member of Tzadik Management, said the purchased of these multifamily communities represents the company’s philosophy and future.

“We look to purchase off market and special circumstance real estate,” said Hendry. “This acquisition completely encapsulates our investment philosophy and the future of our company.”

Since its creation in 2007, Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As a rapidly growing, full-scale, opportunistically driven real estate company based in Miami, Florida, Tzadik tries to be ahead of the curve while applying industry best practices. Tzadik’s team is experienced in buying, owning and managing properties in not just class-a locations, but also difficult neighborhoods. The company also specialize in helping distressed owners and sellers reposition their properties to ensure that the asset does not deteriorate and that sales price is maximized.

The company views all members of the process a part of Tzadik’s family, be it: vendors, employees, capital partners, investors, or residents. The development team is renowned for creating upscale, luxury and contemporary residential projects. Tzadik now sits among the larger players in Florida with almost 3500 apartments and over 100 employees as the company tries to create an environment for success, health and happiness for all members of the Tzadik family through a superior process and innovation.