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Ram Realty closes latest fund

The Florida-based real estate investment firm has raised $150 million in equity to invest in value-added retail and multifamily assets in the Southeast.

 

Ram Realty Partners has announced the final closing of Ram Realty Partners III with $150 million in equity commitments. According to the Palm Beach Gardens, Florida-based firm, a diverse group of institutional investors and family offices committed to Fund III, in addition to more than $11 million committed by the firm’s management team and its affiliates.

“We are appreciative of this vote of confidence from our all of our investors,” said Peter Cummings, chairman. “While many of our investors are long-standing partners, we are pleased to have successfully broadened the investor base with public pension plans and international investors.”

Fund III will focus primarily on value-added acquisitions of well-located retail and multifamily properties in the Southeast. In addition, the real estate investment management firm will continue to pursue distressed debt and recapitalizations of shopping centers and apartment communities.

Targeting a total of $450 million of investments, Ram already has made $150 million of investments on behalf of Fund III so far. Those investments include two retail properties – The Cypress in Tampa and Jacaranda Plaza in Plantation, Florida – and four multifamily assets in Orlando, Charlotte, West Palm Beach, Florida and Raleigh, North Carolina. All four of the apartment communities are undergoing significant renovation and rebranding.

Founded in 1978, Ram acquires, repositions and develops retail and multifamily properties throughout the major markets of the Southeast, seeking opportunities where its management, leasing and operating expertise can significantly enhance property cash flow and investment value. Since 1996, the firm has deployed in excess of $1.7 billion of capital into value-added and opportunistic investments, including the acquisition of distressed debt.