Adam Hendry, Tzadik Management founder and CEO, left, and Alexander Kaushansky, Arbor Realty Trust's vice president, origination

ATLANTA, GA—Miami-based Tzadik Management has acquired six multi-family apartment communities in Georgia in an off-market transaction. The acquisition totals 1,010 units across Houston, Dougherty and Clayton Counties.

Closing at just over $36 million, it is Tzadik's largest acquisition since the 2016 acquisition of 1,244 units across Orlando and Daytona Beach in Florida.

Tzadik Management now owns and manage 27 communities throughout the Southeastern United States.

“We are very excited to have been able to execute this acquisition. We have been looking to break back into the Georgia market for some time and we really felt this was the best opportunity to make it happen” says Adam Hendry, Tzadik's founder and CEO.

Alexander Kaushansky, Arbor Realty Trust's vice president, originations, helped arrange acquisition financing for the portfolio.

“It was a pleasure assisting on this sizeable reentry into the Georgia market,” Kaushansky says. “Tzadik has a strong vision for the future of these properties, and Arbor was able to support that vision with customized bridge financing combining excellent loan terms, speed and certainty of execution.”

The company expects its expansion moves to continue.

“We felt that this deal fit in line with our five-year strategy of acquiring assets in secondary and tertiary markets to get us to 100,000 units,” says Alex Arguelles, chief investment officer. Since its formation in 2007, Tzadik has managed more than $700 million in apartment complexes and over 11,000 units in over 20 states as well as the Caribbean.

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