Miami-based Tzadik Management Group has refinanced the recent purchase of a 6-asset multi-family apartment portfolio across Central Florida. The $64.5 million funding for the 1,244-units, initially acquired in August of 2016, encompass properties in Orlando, Daytona Beach, South Daytona beach and New Smyrna Beach. The proceeds will allow for an equity return for all investors while additionally putting aside a large sum for capital expenditures back into the assets. “This refinance was a huge win for Tzadik and all of our partners. We are proud to be able to substantially reduce the cost of capital and look forward to executing our long-term vision for the portfolio,” said CEO and Founder, Adam Hendry.
