(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-Locally based RAM Cos. has secured an equity partner that will allow the firm to focus on opportunistic industrial property acquisitions over the next year. The unnamed partner, described as a well-established New England-based private wealth management firm, includes investments from high-net-worth individuals. The exact amount of financing has not been disclosed, but will give RAM the ability to purchase between $25 million and $50 million worth of industrial assets, Todd Goldenfarb, vice president of acquisitions and development, tells GlobeSt.com.

The newly formed partnership will focus on assets in New England and South Florida. “We look around the Boston area a lot where we own several properties, ” says Goldenfarb. “ We are also looking the Airport West submarket in Miami-Dade County, and will also look in Broward, Palm Beach and Seminole counties.” Industrial assets in these areas have not been overbuilt like other product such as office and residential, he indicates.

Increased potential for sale-leasebacks as a result of companies looking to put equity back in their business has driven RAM to pursue industrial assets in these targeted markets. “There are also multi-tenanted properties where owners will need to sell to satisfy demands from other owned assets, and some landlords are being pressured to sell by lenders,” Goldenfarb reveals.

The partnership plans to close on its first acquisition with a 107,000-square-foot, 100% leased multi-tenanted property in Massachusetts within the next two weeks. “We sat on the sidelines in 2008 when pricing was just ridiculous and cap rates were at unheard of levels,” says Goldenfarb. “Now we’re starting to see that because of the financial crisis of the world, sellers are beginning to understand the reality of the situation. If we can find acquisitions that work for us and our investment model in 2009, we plan to put most, if not all, of the equity in this partnership to work this year.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.