The Real Deal Miami

Miami investor spends $81M on apartment portfolio

Tzadik Management acquires 2,199 units in five Florida markets
October 24, 2014 12:00PM

Tzadik founder Adam Hendry

Tzadik founder Adam Hendry

Miami-based Tzadik Management acquired 2,199 apartments across Florida for a combined purchase price of $81 million.

Tzadik obtained financing and bought 13 multi-family communities in Jacksonville, Lakeland, Orlando, Sarasota and Tampa, according to the firm’s written statement released on Friday. Since launching in 2007, the company has amassed an ownership and management portfolio of more than $300 million worth of apartment complexes and luxury condo developments.

The transaction was facilitated by Alex Arguelles, Adam Hendry, Matt McCallister and David Runyon of Tzadik. Pathman Lewis attorneys Louis Archambault, Salome Bascunan, Hal Lewis, Wayne Pathman and Richard Schermer assisted with the transaction.

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