MIAMI, Aug. 16, 2016 (GLOBE NEWSWIRE) -- Tzadik Management is proud to announce the acquisition of six multi-family apartment communities spanning over both Orange and Volusia counties and totaling 1,244 units.
Tzadik adds two of the communities to their existing group of Orlando area properties while the remaining properties expand Tzadik into the greater Daytona area. Tzadik Founder and CEO, Adam M Hendry, is excited about the cascading effects of this purchase, “This has been a tremendous team effort enabling us to Make a Difference in the lives of so many people associated with this acquisition.”
Chief Acquisitions Officer, Alex Arguelles, commented, “We saw an opportunity to expand our growing footprint in Central Florida and worked together to execute our business strategy.”
This acquisition is the latest in a series of recent purchases made by Tzadik placing them in the top 15 multi-family investors in central Florida. However, this is the largest single purchase Tzadik has closed on since surprising the market with an $81 million acquisition back in October of 2014. “One of our Core Values is to Never Stop Growing, and it is a real pleasure to see where we started and where we are headed,” said Chief Visionary Officer, David Runyon.
Tzadik has been active in the real estate market since 2007. Today, they own over 30 different multi-family apartment communities in 10 different cities, totaling over 4,500 units. They have owned and managed over $450 million in apartment complexes and condo developments throughout the state of Florida. As one of the most rapidly growing Multi-Family management companies in the state, they look towards more strategic acquisitions and expanding their institutional third party management platform statewide.