SIOUX FALLS, SD – Tzadik closed on a refinance of 2 portfolios in Sioux Falls, SD. The two portfolios combine for over 1100 units across 22 communities.
The first portfolio was bought by Tzadik Management in October of 2018 with a bridge loan. Over $5M in capital improvements were conducted during that period and another $4M set to be completed in the next year. The second portfolio was bought in March of 2019, the latest acquisition in Sioux Falls to date for the company. Both portfolios were successfully repositioned and Tzadik was able to obtain permanent financing with a creative capital stack, capitalizing on the low interest environment.
The timing of this refinance shows the strength of the two acquisitions, further justifying the companies highly publicized push to the Upper Midwest. Diversifying away from primary markets and positioning our self in the Upper Midwest has paid dividends. We are pleased with the results so far and will continue to aggressively position ourselves throughout the Dakotas said Chief Executive Officer, Adam Marcus Hendry.
The closing comes even in the midst of the COVID-19 Pandemic, where many companies have been dealing with substantial loss of revenue and significant drops in occupancy.
As an essential business, we maintained 97% physical attendance across all offices, including corporate. This separated us from our competition and has helped raise our portfolio valuations said Hendry. Our commitment to our residents and our Core Values can t be overstated . Tzadik Management s protocol surrounding the pandemic resulted in many communities outperforming their competition.
In 2018 we made a recession playbook which involved markets which had previously not been affected by economic downturns. We are now seeing this thesis tested and it s evident in our collections and in this latest refinance that the risk paid off in the Upper Midwest Said Executive Vice President Michael Davalos.
Tzadik is a growing, innovative, and driven real estate and property management company based in Miami, Florida. Since its formation in 2007, Tzadik has managed over $1 billion in apartment complexes, over 19,000 units in over 20 states and over 15M sqft in commercial real estate. Through brilliant management, a focus on company culture, tech driven style of operating and a commitment to maintaining strong physical attendance, Tzadik management has established a reputation for Building Lasting Relationships.

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BOSTON, MA – West Shore, a fully integrated, multifamily real estate investment firm, has bought two Class A multifamily communities in the Carolinas. With the addition of Plantation at Pleasant Ridge in Greensboro, North Carolina, and Town Center at Lake Carolina in Columbia, South Carolina, West Shore now owns and manages seven properties across the Carolinas.
In the past 12 months, West Shore has bought four properties in North and South Carolina. The company’s expanding national portfolio now includes 26 residential properties with 8,111 apartment units and well over $1 billion in assets under management.
“These properties are in proximity to several other properties that West Shore owns in the Carolinas, situating us well for future expansion in the market,” said Steven P. Rosenthal, Chairman of West Shore. “We are very optimistic about the prospect of continued growth in the Carolinas and our portfolio is well positioned to benefit from that growth.”
Plantation at Pleasant Ridge, located at 1198 Pleasant Ridge Road in Greensboro, North Carolina, offers 288 apartment homes ranging in size from one to three bedrooms. The community has four unique floor plans complete with modern kitchens and high-end finishes such as granite countertops, stainless steel appliances, spacious oversized closets, and private balconies. Extensive community amenities include a zero-entry swimming pool, outdoor cabanas, a fire pit, a state-of-the-art 24-hour fitness center, and a clubhouse containing a billiards room and game room. Pleasant Ridge is conveniently located minutes from Piedmont Triad International Airport, Highway 68 and I-40, and near downtown Greensboro.
Town Center at Lake Carolina, located at 20 Helton Drive in Columbia, South Carolina, is comprised of 260 one to three-bedroom luxury apartment homes. The property features generous clubhouse space, a resort-style pool, a fitness center with yoga studio, a playground, parks and green space, and miles of walking trails. The apartment units are designed with exclusive interior features including open floor plans, high ceilings, and chef-inspired kitchens. The property is located near Lake Carolina with simple access to I-77 and I-20, and a small drive from the University of South Carolina, BlueCross Blue Shield of South Carolina, Fort Jackson, and Prisma Health.
“The Plantation at Pleasant Ridge and Town Center at Lake Carolina are both terrific properties and very valuable additions to West Shore’s portfolio,” said West Shore President Lee Rosenthal. “We look forward to much continued growth in this region for West Shore.”
In addition to The Plantation at Pleasant Ridge and Town Center at Lake Carolina, West Shore’s other multifamily properties in the Carolinas include: Ansley Falls and Aurea Station in Charlotte, NC, Arcadia’s Edge in Columbia, SC, Reserve at Mill Landing in Lexington, SC, and Riverwalk Apartments in Rock Hill, SC.

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MIAMI, FL – CIM Group announced that it has topped out construction of the two eight-tale towers set above the ground floor retail and three levels of office space which comprise CIM s significant mixed-use development at 2201 N Miami Avenue in the Wynwood Arts District of Miami. The development, which is a major contributor to the evolving Wynwood district, includes approximately 60,000 square feet of office space, 27,000 square feet of street-level retail and studio space, 257 apartments and approximately 480 parking stalls. The 1.78-acre site spans a full city block bounded by NE 22nd and NE 23rdStreets, with approximately 250 linear feet of frontage on N. Miami Avenue to the west and fronts the Brightline Rail to the east.
Three office floors are located above the street-level retail and studio space and extend across the full block making expansive office space that allows for flexible configurations and the ability to divide the approximately 20,000-square-foot floor plates into office suites. The newly-constructed raw space provides the user the ability to design interiors to meet individual needs as well as a fresh approach to delineated employee spaces and distancing that reflect the demands of our new environment. Abundant floor-to-ceiling windows infuse the space with natural light, while 12-foot high ceilings add to the spaciousness.
Set above the retail and office base are two eight-tale towers, at the northern and the southern ends of the block, providing contemporary apartments in a variety of sizes and floor plans, from studios to three-bedroom units.
The development has a central position in Wynwood, a distinctive area in the urban core of Miami, nationally recognized as a center for arts, innovation and culture, as well as one of the major settings for Art Basel, and one of the world s largest street art installations. The ground floor retail space will accommodate a variety of shops, cafes and restaurants, galleries or other businesses that desire a prominent location in Wynwood.
The Wynwood Arts District has been transitioning from an industrial zone to a flourishing center for art, fashion and creative enterprises, with rehabilitated factories and warehouses repurposed for galleries, studios, bars, workshops, and offices — an evolving neighborhood, which includes more residential offerings.
CIM has been involved in the greater Miami region for more than 10 years and brings its proven real estate development and operational expertise to this significant mixed-use project in Wynwood. CIM is co-developing the property with One Real Estate Investment. Among CIM s other projects in the area is Caoba, a 444- unit, 43-tale apartment tower, which welcomed residents in January, and is a part of the master plotted 27-acre mixed use Miami Worldcenter project in which CIM is also an owner and co-developer.
The project is anticipated to be complete in mid-2021. CIM bought the fully-entitled site in October 2018.

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