MIAMI, July 31, 2017 (GLOBE NEWSWIRE) -- Tzadik Management finished out a busy second quarter by closing on two separate re-finances totaling over $122 million. The recapitalization will lower the cost of capital and allow Tzadik to complete improvements across the majority of their portfolio. The re-finances were orchestrated with the idea of capital improvements in mind, the first of which, totaling just over $14 million, will go toward one of their Tampa Assets, Tzadik Oaks. The second re-finance totaled $108 million and spreads across 14 properties in 6 different counties.
Moving forward, Tzadik Management has their sights on becoming the premiere third-party management provider in the southeastern United States and will soon be in entrenched in the fee-based management market. Tzadik has created several processes and procedures that have helped elevate them to the top of their practice, and are now looking help other owners maximize the potential of their assets, via operations.
Having spent the last decade focused on asset acquisition and value-added transactions, Tzadik is now actively pursuing additional third-party contracts. Tzadik has previously been both state and federal court receivers, along with doing the property management in both office, industrial, retail and multi-family assets for both large and small publicly traded institutions as well as various private equity accounts and hedge funds.
Tzadik is a fast growing, innovative, and driven real estate company based in Miami, Florida. Since its formation in 2007, Tzadik has managed over $700 million in apartment complexes and over 10,000 units throughout the entire state of Florida. Through excellent management, a focus on company culture, and a tech-driven style of operating, Tzadik management has established a reputation for building lasting relationships. Continue to be on the lookout for similar dealings in the near future.