SIOUX FALLS, S.D. (KELO) – Some changes could soon be coming to the number of buildings owned by Tzadik Management in Sioux Falls. Outside of three Tzadik apartment buildings, you will now find ‘for sale’ signs put up by 605 Real Estate, which we hope to learn more about later this week.
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In the meantime, we’re taking a look back at Tzadik Management’s time in Sioux Falls.
The Florida-based property management company first came to Sioux Falls in 2018 after buying 18 apartment complexes. Four years later in 2022, KELOLAND Investigates reported on complaints that were coming from residents living in Tzadik buildings. We saw bug infestations, security issues, mold concerns and more.
Tzadik now owns over a thousand apartment units in Sioux Falls and Mayor Paul TenHaken has voiced his frustrations with the company.
“My office specifically is kind of fed up with all the complaints coming to me and so we need to hold people accountable and when you are a property owner and you decide to invest in multi-family properties especially workforce and lower-income properties there is an expectation that comes with that,” TenHaken said in 2024.
KELOLAND News met with Tzadik CEO Adam Henry last year after his company purchased another complex in the city – Woodlake Apartments.
“We all want the same thing, we are working to accomplish the same thing, we’ve had good follow-ups I’m going to be here in Sioux Falls for probably a month just addressing a lot of this stuff myself and I think things are improving a lot,” Henry said in 2024.
Earlier this year, we spoke to a resident of Woodlake Apartments who told us she was moving out because of issues, like unreliable heat in the winter.
“I wish they knew the full aspect of things and would take accountability and get things taken care of like they’re supposed to,” Blair Bierwagen said in January 2025.
Shortly after we reported on the unreliable heat issues at Woodlake, the City of Sioux Falls held a news conference because three other complexes owned by Tzadik had received notices that the gas would be turned off. As for the Woodlake Apartments, those have now been taken over by a new company — Equity Real Estate Management.
We’ve reached out to Adam Henry regarding changes coming to Tzadik buildings in Sioux Falls but have not heard back.
The complexes currently listed for sale are the North Cleveland Apartments, Sandy Creek Apartments and Parkside Apartments.
