PALM BEACH, FL – Ram announced the acquisition of ten (10) sub-performing senior mortgages with a total par value of $57 million. The collateral included multifamily and commercial properties through South and Central Florida. The notes were acquired at a significant discount to par.
The notes were acquired on behalf of Ram Realty Partners II, a private equity fund sponsored by Ram and its principals. The fund currently has assets totaling $175 million with additional equity capital on hand to expand its holdings to a total of $600 million.
About Ram: Founded in 1978, Florida-based Ram pursues the acquisition, development, and redevelopment of commercial, multifamily and mixed-use real estate throughout the Southeast, with a focus on the major markets in Florida, Georgia and the Carolinas.
In addition to its development and value-add acquisition activity, Ram acquires non-performing and sub-performing mortgages secured by commercial and multifamily properties. Ram has offices in Fort Lauderdale and Tampa, Florida, Chapel Hill, North Carolina and Atlanta, Georgia, with its corporate office in Palm Beach Gardens, Florida. For more information, visit www.ramrealestate.com.