Corporate Profile

About Ram

Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and multifamily properties in the Southeast. The group also selectively provides equity and acquires distressed debt. Since 1996 the Company has deployed in excess of $2.0 billion of capital.

Our Communities

Place making requires connecting in a sensitive way to the communities where we build. Occasionally we have the opportunity to reshape entire neighborhoods. More frequently we deal with infill sites, where we create an environment that is distinctive, but at the same time fits with the neighborhood. We take our commitment to community seriously and encourage our employees to do the same.

Our Mission


  • We believe that we have the power to make places better: to create places where people want to live and shop.
  • We believe that individuals (not deals or capital) make the difference.
  • We believe that real estate is fundamentally a local operating business.


  • We align our interests with the interests of our investors and free ourselves to do what we do best.
  • We attract, nurture, and retain the best talent by treating people with respect and providing opportunities for growth (experiences and compensation).
  • We pursue investments only where we can deploy both capital and human resources.


  • We buy and fix (or develop from the ground up) and operate shopping centers and apartment communities.
  • We focus on the major markets in the Southeast (Nashville, Charlotte, Raleigh, Atlanta, Orlando, Tampa, and South Florida).
  • We capitalize investments with Ram-sponsored discretionary private equity funds (and periodically institutional JVs).

Our Team

Casey Cummings, Chief Executive Officer

Casey Cummings is responsible for new investments, joint venture relationships and the overall strategic plan for the Company.  Mr. Cummings serves on the Company’s Investment Committee.  He joined Ram in 1991 and served in a variety of capacities over the course of his first ten years with the Company, including acquisitions, leasing, development and property management.  He was appointed President in 2001 and assumed the additional role of Chief Executive Officer in 2010.  Mr. Cummings holds a B.S. degree in Business Administration from Boston University’s School of Management.  He is a member of PREA and the International Council of Shopping Centers (ICSC), where he is a frequent guest speaker.  He is past Chairman of the Board of Directors of the Economic Council and The Pine School, and has previously served on several boards, including the New World Symphony (Miami Beach), Library Foundation (Martin County, FL), and the University of Florida’s Bergstrom Center for Real Estate Studies.[/expand]

Jim Stine, President

Jim Stine provides senior leadership for several Company functions, including asset management and development. He joined Ram in 2010 and serves on the Company’s Investment Committee. Prior to joining Ram, Mr. Stine spent 25 years with Stiles Corporation, where he served as Chief Investment Officer, coordinating the firm’s real estate development, leasing, asset management and property management departments. Formerly President of Stiles Capital Group, he was responsible for asset management activities, including arranging and executing all project financing, as well as the acquisition and disposition of portfolio assets. Mr. Stine is an active member in the Urban Land Institute (ULI), the National Association of Industrial and Office Properties (NAIOP) and the International Council of Shopping Centers (ICSC). Additionally, he currently serves on the Advisory Board of the University of Florida’s Bergstrom Center for Real Estate Studies (UFCRES) and served as chairman 2012-2013. He is a past member of the University of Florida Broward County Regional Development Committee, the Board of Directors of Children’s Place at Homesafe as well as Leadership Palm Beach. Mr. Stine is licensed in mortgage brokerage and real estate sales in the State of Florida.[/expand]

Karen Geller, Executive Vice President and General Counsel

Karen Geller is responsible for legal representation, human resources, risk management, due diligence and oversight of SEC compliance for the Company. Ms. Geller graduated from Florida International University in 1990 with a B.A. degree in Accounting. Prior to attending law school, Ms. Geller worked in the legal field in various capacities, including a role in the City of Miami Beach’s Legal Department. In 1998, Ms. Geller graduated from the University of Miami with her J.D. degree. After attending law school, Ms. Geller joined Gunster, Yoakley & Stewart, P.A., specializing in all aspects of commercial real estate acquisitions, dispositions and financing. Ms. Geller joined Ram in 2005 as Vice President and General Counsel. During her time at Gunster, Ms. Geller handled several real estate transactions on behalf of Ram. Ms. Geller is the current corporate sponsorship chair for the American Cancer Society’s Making Strides Against Breast Cancer annual event in Martin County, Florida. Ms. Geller is also the senior management liaison overseeing the Company’s internal committee for philanthropy.[/expand]


Jennifer Stull-Wise, Managing Director, Asset Management

Jennifer Stull-Wise provides leadership for all asset management and property management functions for the firm. Ms. Stull-Wise graduated from DePaul University with a B.A. degree in Business Management. She joined Ram in January 2002, after an eight-year career with Lincoln Property Company. During her tenure with Lincoln, she served as management trainer and Regional Property Manager for multifamily communities owned by private investors as well as institutional clients. In that capacity, she began working on Ram-owned assets in 1997. Ms. Stull-Wise’s civic involvement includes serving as member of the Executive Board of the Juvenile Diabetes Foundation, a Classroom Ambassador and Communications Chair for Bridges Montessori, a Co-Leader for Girl Scouts of Southeast Florida, a member of the Annual Fundraising Committee for the Boys & Girls Club of Martin County and Executive Board Member for Keep Martin Beautiful. Professional affiliations include membership with the Urban Land Institute (ULI), Institute of Real Estate Management, National Multi Housing Council and various Apartment Associations.[/expand]


Hugo Pacanins, Managing Director, Residential Development

Hugo Pacanins provides leadership for the Company’s multifamily and mixed-use development and redevelopment projects. In addition, he was also responsible for managing the Company’s interests in several non-performing loans. Mr. Pacanins was born in Venezuela and graduated with honors from UCAB (Caracas, Venezuela) in 1999 with a B.S. degree in Civil Engineering. Upon graduation, he joined McKinsey & Company, where he worked as a Management Consultant for two years, working out of Venezuela and Miami. In 2001, Mr. Pacanins joined an entertainment company in South America as General Manager, where he managed over 1,500 employees in three cities. In 2005, he graduated from the Haas School of Business at the University of California at Berkeley with a Master’s degree in Business Administration with a concentration in Real Estate and Strategy. Since joining Ram in 2005, he has played a key role in several residential and mixed-use projects. Mr. Pacanins is an active member in the Urban Land Institute (ULI) and has served on the Community Involvement Roundtable of the Broward County Metropolitan Planning Organization. He is also certified under the US Green Building Council as a Green Associate.[/expand]

Our History

In 1921, Maxwell Cummings leased 440 Saint Catherine Street in Montreal. He signed a $400 per month lease with the intention of opening a shoe store in half the space and subleasing the balance. Maxwell found a restaurateur to take half of the building for $400 per month. He never opened the shoe store and, instead, leased out the balance of the space at a handsome profit. That was the start of Maxwell’s real estate career. Over the next several decades, he and his sons Robert and Jack, participated in the development of residential and commercial projects in Canada and the United States. Three generations later, the Company’s founder (Peter D. Cummings) developed Martin Downs, transforming 2,600 acres of dairy-farm land in South Florida into a vibrant community, now home to more than 10,000 people. Four generations later, under the leadership of Casey Cummings, Ram and its principals have created several million square feet of commercial and multi-family properties. Almost a century later, Maxwell’s commitment to quality and community still shapes the Company.

Ram Realty Advisors

Ram Realty Advisors (RRA) is the manager for all Ram sponsored private equity real estate funds. RRA is a registered investment advisor regulated by the Securities and Exchange Commission. The funds are raised in a closed-end structure with investment from family offices and a variety of institutional investors, including insurance companies, public pension plans, and endowments. The team of Ram real estate professionals provides investment and asset management services to the RRA sponsored Funds. Since 2004, Ram has sponsored four commingled funds – Community Reinvestment Partners, Ram Realty Partners II, Ram Realty Partners III, and Ram Realty Partners IV.

Ram Realty Partners

Ram Realty Partners: RRPIII

Ram Realty Partners III LP (RRP III) continues Ram’s value-added strategy of acquiring and repositioning retail and multifamily properties in major markets throughout the southeastern United States. RRP III held its final closing in June 2013 with total equity capital commitments of approximately $150 million. A diverse group of new and existing institutional investors and family offices committed to Fund III, including Ram’s management team. RRP III is currently being actively invested, with 10 assets acquired as of June 2015.

Ram Realty Partners: RRPII

Ram Realty Partners II LP (RRPII) is a closed-end private equity real estate fund that targeted the acquisition and development of commercial, multifamily, and mixed-use real estate in the southeastern United States. In addition, RRPII pursued the acquisition of surplus corporate real estate and non-performing commercial real estate loans. RRPII held its final closing in August of 2008 with total equity capital commitments of approximately $200 million. The Fund was fully invested by the end of 2011. Its investors included Ram’s management team, high net worth family offices, insurance companies, foundations, and pension funds.

Ram Realty Partners (CRP)

Community Reinvestment Partners LP (CRP) is a closed-end private equity real estate fund launched by Ram in 2004. The purpose of the fund was to acquire and improve shopping centers in moderate and low-income census tracts within the State of Florida. In addition to Ram principals, the investors in this fund were commercial banks (which received Community Reinvestment Act credits for their investments) as well as other institutions with a social objective. The fund concluded its investment period in the third quarter of 2007 having acquired over $200 million of qualified property.

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Ram Realty Services

Ram Realty Services (RRS) is a full-service property and asset management Company with a southeastern US focus. The Company provides investment, leasing and management services for the Ram portfolio of residential, retail and mixed-use properties. The Company currently employs more than 125 people. Ram is headquartered in Palm Beach Gardens, Florida and has regional offices in Fort Lauderdale, Florida and Charlotte, North Carolina.

Ram Development Company

Ram Development Company (RDC) is a developer of retail, multifamily and mixed-use projects on behalf of Ram sponsored funds and co-investment vehicles. The Company develops new multifamily communities, both mid-rise and garden style; new multi-tenant shopping centers; and mixed-use urban infill projects. In addition to traditional “ground-up” development, the RDC team assists with the major redevelopment of retail and multi-family properties acquired by the Ram sponsored funds.

Strategic Acquisition Criteria

The Company

Ram is pursuing the acquisition, development, and redevelopment of commercial, multifamily and mixed-use real estate throughout the Southeast. Target markets include South Florida, Tampa, Orlando, Raleigh/Durham, Charlotte, Nashville and Atlanta. Secondary markets, preferably coastal locations or college towns, will also be considered. The strategy includes ground-up development, adaptive re-use, and the acquisition and redevelopment of existing assets. Ram has been continuously acquiring and developing real estate since 1978. During the past 15 years, the company has deployed over $1.7 billion of capital into its real estate ventures.


      • Investment Strategy: Value-add, core plus, ground-up development and opportunistic; renovation and major redevelopments preferred
      • Product Type: Neighborhood, Community, Power Centers and Mixed-Use
      • Target Deal Size: $10,000,000 to $50,000,000 (minimum of 75,000 square feet)
      • Portfolio Acquisitions: Ram also acquires multiple-property portfolios


      • Investment Strategy: Value-add, core plus, ground-up development and opportunistic; renovation and major redevelopments preferred
      • Product Type: Garden style or mid-rise communities
      • Target Deal Size: $10,000,000 to over $50,000,000 (minimum of 100 units)
      • Portfolio Acquisitions: Ram also acquires multiple-property portfolios

Special Situations

      • Strong interest in investing capital with other high quality operators.
      • Retail and multifamily loans, both non-performing and sub-performing. These loans will be considered only if they are whole loans and first mortgages.
      • Deal Size: $5 million to $50 million in a single asset, up to $250 million for a portfolio acquisition.


        Please direct all acquisitions and development inquiries to