MIAMI—Ram Realty Partners has closed on Ram Realty Partners III , L.P., with $150 million in equity commitments. In addition to more than $11 million from the firm's management team and its affiliates, Ram reports that a diverse group of institutional investors and family offices committed to Fund III.
“We continue to grow our team and expand key relationships with new and existing partners,” says Casey Cummings, Ram's CEO. “We firmly believe it is the people that make a difference. When we find opportunities to combine our human resources with our partner's capital, we are able to generate positive results.”
Fund III is primarily targeting value-added acquisitions of well-located retail and multifamily properties in the Southeast. Ram will also continue to pursue distressed debt and recapitalizations of shopping centers and apartment communities.
“We remain committed to being a fully integrated regional operator with discretionary capital,” says Cummings. “This is a highly competitive business and we believe having both the people and the capital is a key differentiating factor. The initial portfolio for Fund III is a classic example of focusing on the right opportunities in the right markets.”
Altogether, the company is targeting a total of $450 million of investments. So far, Ram has made a total of $150 million of investments on behalf of Fund III. The investments include two retail properties—The Cypress in Tampa, FL and Jacaranda Plaza in Plantation, FL. Four multifamily investments have been made in West Palm Beach, Raleigh, Orlando, and Charlotte. All four of multifamily communities are undergoing significant renovation and rebranding.
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