Uncategorized

  • Feb
    26

Construction Begins on Hawk, Unmatched Exclusive Residences Coming to South End

February 26, 2019

Hawk Building Rendering

(Charlotte, NC – February 27, 2019) – Ram Realty Advisors is pleased to announce the ground breaking of Hawk, a highly anticipated 13-story high-rise building with 71 multifamily units atop 6,200 square feet of retail. Hawk is located at the corner of Hawkins and Doggett Streets in Charlotte’s historic South End. Slated for occupancy in summer of 2020, Hawk boasts the highest-quality finishes available in rental residences. With only six apartments per floor in a building unlike anything Charlotte has seen, each residence feels more like a custom single-family home than an apartment.

 
“Ram’s vision is to bring a level of living to the epicenter of South End that doesn’t currently exist,” says Ram Realty Advisor’s Director of Development, Rachel Russell Krenz. “Hawk is a carefully planned community for distinguished residents who live private, aspiring lifestyles.”

 
Hawk’s residents will enjoy the social heartbeat of Charlotte while residing in opulent surroundings that feature sophisticated finishes and spectacular views of the Uptown skyline. Hawk’s lobby décor includes marble floors, brass mailboxes, designer lighting, walls clad in indigo silk, walnut wood veneer, honed black slate, and original art. The residences bring the most sought-after living experience in exquisite studios-, two- and three-bedroom layouts.

 
Each residence is hand crafted with a solid wood entry door opening to an all-embracing living space with wideplank flooring reminiscent of European oak and expansive warehouse-style windows that almost touch the tallest ceilings in the market. Kitchens include French-door refrigerators, gas ranges, custom walnut cabinetry, brass and black hardware, quartz countertops, and a large-format tile backsplash inspired by honed Calcutta marble. Detailed bathrooms will showcase glassed shower rooms with freestanding soaking tubs, separate toilet rooms, and rectified porcelain tile floors. Residents can also expect custom-designed wardrobes, private laundry rooms, and generously sized wood-ceiling balconies with ceiling fans.

 

Hawk Kitchen Rendering        Hawk Bathroom Rendering
“It’s been an honor to work on this unique project that utilizes an innovative precast concrete construction and as high a level of interior finishes as we have seen in the Carolinas,” says Senior Principal of Cline Design Associates Orlando Pizarro.

 
Ram maximized the value of the tight 0.36-acre site by increasing the density through height, designing a pedestrian bridge to the adjacent parking deck, and utilizing precast concrete for the structure. This innovative approach to development parallels the innovation of South End’s Design District. Ram is no stranger to the neighborhood, with over a decade of investing in the strategic development of South End. Ram’s North Carolina regional office is located in the Design Center of the Carolinas, directly adjacent to Hawk. Other Ram projects in South End include Hub South End- a mixed-use project that includes 265 apartments and over 22,000 square feet of new commercial retail, office and co-working space; and Three30Five- a multifamily community with 164 apartments and a 60,000 square feet to be built commercial component.

 
Residents will enjoy the bustling South End neighborhood filled with restaurants, shops, breweries, art, and entertainment. Hawk is less than one mile to Uptown and blocks from major employers like Dimensional Fund Advisors and Allstate Insurance. The premium location is furthered with the Lynx Light Rail East-West Station and rail trail one block away and a 15-minute drive to Charlotte Douglas International Airport. Ram’s attention to placemaking will complement the vibrant, growing neighborhood and offer a unique living option.

 
“Ram’s investment in South End continues to add to the neighborhood, and this project will provide a new kind of residential option right in the heart of a retail-rich and walkable area,” said Megan Liddle Gude, Director of Historic South End for Charlotte Center City Partners. “The density, design, walkability and mix of uses that shine in this project fulfill many of the goals set out in our community’s South End Vision Plan.”

 
The Hawk team includes general contractor Concorde Construction; architect/interior designer Cline Design Associates; civil engineer Bohler Engineering; mechanical, electrical, and plumbing engineer Jordan & Skala Engineering; structural engineer MMSA, Inc.; precast concrete manufacturer Metromont Corporation; and lender Synovus Bank d/b/a Florida Community Bank.

 
ABOUT RAM
Ram Realty Advisors acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $2.8 billion of capital. The Company’s assets are primarily operated by its management affiliate — 5/ten Management. Ram and its predecessor entities were founded in 1978. The Company is headquartered in Palm Beach Gardens, Florida, and has offices in Fort Lauderdale, Charlotte, Chapel Hill, and Nashville. To learn more, visit ramrealestate.com

 
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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

 
Jessica Sutherland
5/ten Management Ι Director of Marketing
jsutherland@510mgmt.com
office: 704-237-3367

  • Jan
    31

Ram Realty Advisors Closes on University Place with Big Revitalization Plans

January 31, 2019

University-place-photo-2432x1060

(Chapel Hill, NC – January 25, 2019) – Ram Realty Advisors is already at work on its transformative plans for Chapel Hill’s University Place, and both current tenants and area residents express renewed hope for one of the Triangle’s oldest shopping centers.

The 40-acre property, purchased from Madison Marquette, has seen some positive developments in the last few years, with anchors Silverspot Cinema and gourmet grocer Southern Season joined by Harris Teeter grocery store, Stoney River Steakhouse & Grill, and Bartaco. Ram’s plans likely include multi-phase efforts to modernize the property.

“Our goal is to create a walkable town center, so our initial focus will be upgrading the existing buildings to fill in some of the gaps by converting interior mall space to outward-facing shops,” said Ram Realty Advisor’s Ashley Saulpaugh, Director of Investments. “That will include renovating the exteriors and enhancing the outdoors with new landscaping, seating, and public art.”

“There’s a whole host of uses we’re considering,” said Ram Realty Advisors’ CEO, Casey Cummings. “We want to bring balance and vibrancy to University Place. We will build buildings in the parking lots, although how and where they connect to the existing space is still in the planning and design phases. We’re also considering completely new uses of the property, including office, lodging, and residential.”

bartaco exterior

University Place is Ram’s third investment in the immediate area of Chapel Hill within the past three years. In 2016, Ram acquired nearby Elliott Square Shopping Center, a 70,000 SF retail center anchored by O2 Fitness. Ram also acquired the former Days Inn on Fordham Boulevard in 2017 and is currently under construction on a 272-unit midrise apartment community. Previously, Ram developed the mixed-use 140 West project on Franklin Street in downtown Chapel Hill.

South Florida-headquartered Ram has a long history in The Triangle, with plans to continue its commitment to the area.

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail, multifamily, and mixed-use properties in select high-growth markets in the Southeast. The company capitalizes investments with Ram-sponsored discretionary private equity funds, and periodically institutional joint ventures. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram Realty Advisors operates and manages its own assets through an affiliated company, 5/ten Management. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; Durham, North Carolina; and Nashville, Tennessee.

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Nov
    12

Ram Realty Advisors Sells Woodlands Square

November 12, 2018

Woodland-Square-11418 (002)_Page_07(OLDSMAR, FL –November 09, 2018) — After breathing new life into the 315,000 SF Woodlands Square, owner Ram Realty Advisors is pleased to announce the sale of the revitalized center to Dallas, Texas-based Rainier Companies.  Cushman & Wakefield’s Miami-based retail investment sales team, led by Mark Gilbert, Adam Feinstein, and Mitchell Halpern, represented the seller in the transaction.

After demolishing functionally obsolete space near the back of the center to make way for new tenants and better traffic flow, Ram’s makeover of the prime location at the intersection of Tampa Road and Curlew Road included new building facades, new signage, roofing, painting, parking lots, parking lighting, landscaping, awnings, and created a two-way ingress/egress drive. Ram estimates it touched roughly 85% of the center, which is 96% occupied, making it an attractive acquisition for Rainier.  “The Class A center is a perfect fit for our retail strategy and growing retail portfolio,” says Rainier’s President, Tim Nichols.

The tenant mix includes recognized brands including specialty organic and natural foods grocer, Earth Fare; an AMC Theatre, which recently received a $7 million makeover; PetSmart; Five Below; a free-standing Ulta cosmetics; Beall’s; Marshall’s; Dollar Tree; Anytime Fitness; Coast Dental; Fantastic Sam’s; Kids Park; Pinot’s Palette; Amazing Lash, and Salon Lofts.

Local tenants include Janice Brand DDS, T&T Nails, Perfections Hair Salon, My Greek Corner, Richard’s Foodporium, Eve’s Florist, and Ruth Fashions.

Dining options include Shaker & Peel, Craft Street Kitchen, Green Market Café, Ruby Tuesday, and long-time local favorite Eve’s Family Restaurant.

Located 20 minutes northwest of downtown Tampa, in Pinellas County (the most popular destination on Florida’s Gulf of Mexico), this prime location represents a winning decision for both firms.

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**HI-RES IMAGES AVAILABLE

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and residential properties in select high-growth markets in the Southeast. The company capitalizes investments with Ram-sponsored discretionary private equity funds, and periodically institutional joint ventures. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; Durham, North Carolina; and Nashville, Tennessee.

ABOUT THE RAINIER COMPANIES

The Rainier Companies are headquartered in Dallas, Texas. Rainier currently holds investments in over $1 billion of commercial properties with its individual, corporate, and institutional partners.  Rainier’s acquisition strategy focuses on well-located stabilized retail centers and government properties in the central and eastern United States and value-add properties in Texas.  For further information, please see www.rainiercompanies.com.

 

Ram Realty Advisors contact:
Jonathan Porter
Ram Realty Advisors
office: 561.282.4628

The Rainier Companies contact:
Stacy McDaniel
The Rainier Companies
Office:  214.234.8200

Media contact:
Kelly Owens
Alchemy Communications Group
office: 561.935.9953 x.101
mobile: 561.222.4958

  • Nov
    1

FL Luxury Apartments Command $103M

November 1, 2018

Ram Realty Advisors and Kolter Urban have sold The Alexander and Alexander Lofts, two high-end communities located in West Palm Beach

By Keith Loria via Multi-Housing News | Read Original Article here

AvalonBay has acquired Alexander Living, a two-building luxury community encompassing 290 units in West Palm Beach, Fla., from a joint venture between Ram Realty Advisors and Kolter Urban, for $103 million.

Newmark Knight Frank’s Vice Chairmen Avery Klann, Hampton Beebe and Director Jonathan Senn facilitated the sale.

“We are constantly looking for opportunities to reinvent existing buildings. Alexander Lofts met that criteria,” Casey Cummings, Ram Realty Advisors’ CEO, told Multi-Housing News.  “We also tend to pursue locations that are emerging rather than those that are established (and frequently overbuilt). This part of West Palm Beach was, and is, undergoing a renaissance. By virtue of our direct execution teams and internal discretionary capital, we can take calculated risks where others may not.”

For example, Alexander Living was the first new institutional quality apartment community to be developed in West Palm Beach after the financial crisis.

“Much of the new product in the Southeast tends to be commoditized or repetitive. This project had all of the bells and whistles that renters expect to find in a new community, plus it had character and authenticity,” Cummings said. “The community has a soul, largely as a result of the adaptive re-use at Alexander Lofts, the public art, the urban park, and the surrounding neighborhood. That said, it isn’t just buildings and amenities that make the difference, it’s the people. The residences, onsite management team, and our retail partner helped bring the buildings to life.”

 The Alexander, located at 333 Fern St., consists of 205 units and offers views of Palm Beach and the Intracoastal Waterway. The 20-story asset was turned into luxury apartments just last year.

Originally constructed in 1926 as headquarters for Southern Bell Telephone, Alexander Lofts, located at 326 Fern St., was redeveloped into luxury units in 2005.

Units in both buildings feature modern, open-concept floorplans with plank and tile flooring, soaring ceilings, large windows, balconies on select units, contemporary style baths and gourmet kitchens with stainless appliances. Both buildings are pet-friendly.

The properties’ shared amenities include a swimming pool and club room on the seventh floor, expansive 24-hour fitness center, executive business and conference center, personal video entry system and more.

“In addition, we have a gourmet raw vegan restaurant and juice bar, a lovely public park and are instantly recognized by the iconic Art in Public Places murals on the east side of both residences,” Jennifer Stull-Wise, Ram Realty Advisors’ managing director, asset management, told Multi-Housing News. “The location and views are truly our best irreplaceable amenity.”

PREMIER LOCATION

Alexander Lofts and The Alexander are situated in downtown West Palm Beach, in the heart of the Arts & Entertainment District, and within walking distance from transportation, shopping, dining and entertainment venues.

According to Stull-Wise, the city continues to grow, not just from a quantitative perspective, but more importantly from a quality of life perspective with public spaces and new transit systems such as Brightline.

“Alexander Living is located in the epicenter of all of the exciting changes taking place in West Palm Beach,” Stull-Wise said. “It’s truly becoming a cosmopolitan place to live and work.”

Ram Realty Advisors owned the properties for approximately six years and completed execution of the renovation and new development component a little over a year ago.

“We achieved stabilization late this summer,” Cummings said. “As much as we love the property and would have been pleased to own it longer-term, our funds typically target a 5+/- year holding period. We believe in the importance of following through on business plan execution.”

Last year, Ram Realty Advisors sold the Apartments of Stonehenge, a 452-unit, garden-style community in the North Raleigh submarket of Raleigh, N.C.

  • Oct
    19

Ram Realty Advisors and Kolter Urban sell Alexander Living in West Palm Beach

October 19, 2018

the alexander pool exterior_small

(PALM BEACH GARDENS, FL – October 19, 2018) Ram Realty Advisors is pleased to announce the sale of its two downtown West Palm Beach luxury apartment communities, The Alexander and its sister property, Alexander Lofts. The properties, known collectively as Alexander Living, were sold to Arlington, VA-based Avalon Bay (NYSE:AVB). The project was a joint venture between Ram Realty Advisors and its partner, Kolter Urban. The investment sale process was handled by Vice Chairmen Avery Klann, Hampton Beebe and Director Jonathan Senn of Newmark Knight Frank Multifamily.Casey Cummings, Ram’s CEO, stated, “the acquisition and development of these properties was a labor of love for our team. The projects were started several years prior to the current downtown boom and required a high degree of cooperation from the City, and confidence from our institutional investors.  We are grateful for both.”

Alexander Lofts and The Alexander are located at Fern Street and Dixie Highway in the heart of downtown West Palm Beach. The Alexander is a recently completed 20-story luxury apartment building with views of Palm Beach and the Intracoastal Waterway.  Alexander Lofts is a six-story brick building originally constructed in 1926 as the old Southern Bell Telephone regional headquarters; its conversion into 85 urban-style lofts was completed in 2015. The development of the projects included award-winning public art and the dedication of an urban park.  Ram acquired the properties in 2012 on behalf of Ram Realty Partners III, its third discretionary real estate private equity fund.

Units in both buildings offer the high-end features and finishes demanded by this market, including modern, open-concept floorplans with soaring ceilings, tall windows, balconies on select units, plank and tile flooring, contemporary style baths, and gourmet kitchens with stainless appliances. There are 18 different floorplan configurations at Alexander Lofts, and 13 at The Alexander. Both residences are pet-friendly and situated in the heart of the downtown Arts and Entertainment District within walking distance to Brightline, CityPlace, the weekly waterfront Green Market, and numerous other retail, dining, cultural, educational, and entertainment venues.

Casey Cummings added, “Avalon Bay is widely regarded as one of the highest-quality institutional owner and operators of multifamily properties. Their entry into West Palm Beach represents an endorsement of the community. The sale is bittersweet, as we have enjoyed our joint venture relationship with Kolter and love the West Palm Beach market.”

Ram continues to expand its portfolio alongside recent sales; the firm’s portfolio of managed, completed, or projects under development includes over 1.5 million square feet of commercial space and 3,000 multifamily units.  Both Ram and Kolter have several active projects in South Florida, as well as other major southeast markets.

ABOUT RAM

Ram Realty Advisors acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles.  Since 1996, Ram has deployed in excess of $2.8 billion of capital. The Company’s assets are primarily operated by its management affiliate — 5/ten Management. Ram and its predecessor entities were founded in 1978.  The Company is headquartered in Palm Beach Gardens, Florida, and has offices in Fort Lauderdale, Charlotte, Chapel Hill, and Nashville.

ABOUT KOLTER URBAN
Kolter Urban is the urban infill and suburban high-density affiliate of The Kolter Group. The Kolter Group is a Florida-based real estate development and investment firm with a Southeast footprint and expected revenues (both completed and in-process) in excess of $12 billion. The firm is a thematic and strategic real estate investor capitalizing on the convergence of two US trends, sunbelt migration and the aging population. The firm creates award-winning, age 55+ master-planned communities, single-family homes, luxury high-rise condominiums, and branded hotels.

ABOUT AVALONBAY COMMUNITIES, INC.

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring, and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States. More information may be found on the Company’s website at http://www.avalonbay.com.

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Sep
    10

ANZO Mediterranean Kitchen Comes to Mainstreet at Midtown

September 10, 2018

5ten managment Anzo

(PALM BEACH GARDENS, FL – September 6, 2018) – Mainstreet at Midtown, the ultimate destination along Palm Beach Gardens’ vital and exciting PGA Boulevard corridor, is pleased to announce the opening of its ninth unique dining destination: global café ANZO.

Conceptually offering “Real Food. United.,” ANZO’s cuisine is inspired by the four corners of the world, while the company is committed to creating spaces that are meticulously weaved on the fabric of exploration, innovation, and connection. It’s a united space that transforms one of the most communal moments – mealtime. The menu is a culinary fusion where warm bowls, wraps, and salads are derived from its Mediterranean roots and elevated global palate.

Mainstreet at Midtown is an established destination where one may find a way to spend the entire day: pamper yourself, get fit, shop, and dine in one convenient place.

“We are thrilled that ANZO has joined the impressive array of restaurants at Midtown,” says Jonathan Porter, VP – Asset Management & Finance for Ram Realty Advisors. “ANZO fits in nicely as a fresh, healthy, affordably-priced, fast-casual concept.”

The opening of ANZO follows on the heels of the debut of new anchor tenant Earth Fare, one of the largest natural and organic food retailers in the country. Mainstreet at Midtown, a 47-acre development that encompasses more than 96,000 square feet of retail, restaurant, and office space together with 225 luxury condominiums, a 500-seat cultural center, and a 300-seat banquet hall, is the corporate headquarters for the center’s developer Ram Realty Advisors and its affiliated company, property manager 5/ten Management.

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ABOUT RAM & 5/TEN MANAGEMENT

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and residential properties in select high-growth markets in the Southeast. 5/ten Management operates as a boutique company specializing in acquisition, disposition, renovation, asset and property management services to retail, office and multifamily developments. What started as an in-house division devoted to property management within Ram Realty Advisors, has evolved into a fully integrated affiliated company. 5/ten Management is the culmination of four generations of real estate development, management and leasing expertise. In essence, 5/ten leverages almost a century of experience and brings the guiding principles that we are people making places better.

RAM REALTY ADVISORS CONTACT:

Jonathan Porter
Ram Realty Advisors
jporter@ramrealestate.com

MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
office: 561.935.9953 x.101
mobile: 561.222.4958

  • Sep
    7

Openings: Anzo brings Mediterranean bowls to Gardens’ Midtown plaza

September 7, 2018

New restaurant, Anzo, opens in Palm Beach Gardens

By LIZ BALMASEDA 
via The Palm Beach Post 
Friday, September 7, 2018
Read the original article here.

Heads up, newbies: There may not be enough room in your bowl at Anzo Mediterranean Kitchen for all the toppings offered at Palm Beach Gardens’ newest build-your-meal restaurant.

The casual, Middle Eastern-leaning restaurant offers no fewer than 15 toppings (13 of them free) to heap on your already hefty bowl ($9.45) or wrap ($8.95). To build your meal, you choose two base items (rice or quinoa and a choice of salad greens), add one of six protein items, three sauces, a roasted veg and a dressing. The menu has plenty of vegan and gluten-free offerings.

The counter-service spot, an outpost of Anzo on Clematis Street in downtown West Palm, opened at the Gardens’ Midtown plaza Aug. 30. It took over the sunlit corner space that once housed an interior décor store.

At lunch Thursday, a stream of customers quickly filled the place. I found quite the spread of fresh-made dishes on Anzo’s steam tables. My customized bowl did not disappoint: warm turmeric basmati rice, organic arugula, deliciously tender turkey meatballs, shawarma cauliflower, harissa carrot salad, marinated tomatoes, and purple cabbage slaw, sprinkled with crispy onions and za’atar croutons. On the side: hummus for dipping and coconut curry and lemon tahini sauces for drizzling.

It was a lot, I know. But it all worked and, really, you can order as much or as little as you’d like.

Expect some items to carry upcharges. Add $2.50 for slow-braised lamb or salmon skewers, $1.50 for an organic hardboiled egg or a half avocado. To drink, there’s a range of all-natural soda, fresh teas, lemonade and almond milk drinks. Various desserts, including baklava ($1.85), are offered as well.

Anzo’s opening comes about a year after the opening of Olive U Mediterranean Grill, a casual, build-your-bowl restaurant that has built a steady local fan base two and a half miles east on PGA Boulevard. Both home-grown concepts reflect a national wave of DIY-meal restaurants that has sparked diverse spots across Palm Beach County, from healthy bowls to pizza. Call it the Chipotle effect. In fact, there’s a Chipotle near Anzo at the Midtown plaza. There’s also a Blaze Pizza, where diners customize their personal pies.

But do not assume such concepts equate lackluster settings. If you’re expecting your average fast-food joint, you may be pleasantly surprised by Anzo’s stylish digs.


Anzo Mediterranean Kitchen

  • Located at: 4747 PGA Blvd. (at Midtown plaza), Palm Beach Gardens; 561-366-7753
  • Hours: Open daily from 11 a.m. to 9 p.m.