Press Release

  • Jul
    27

Rhino Market joins Free Range Brewing at Ram’s new mixed-use project, The Collective.

July 27, 2018

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(Charlotte, NC – July 24, 2018) – Rhino Market has signed a lease to take approximately 3,000 SF of retail space at The Collective, a new mixed-use project being developed by Ram Realty Advisors.  This will be the third location for Rhino and a stimulating addition to the area.  Located adjacent to the NoDa and Villa Heights neighborhoods, The Collective is comprised of a 3.6-acre parcel at 2300 North Davidson Street in Charlotte, NC.  Ram is under construction on a major redevelopment of the site that includes the renovation of the existing commercial building (to be complete in early 2019) and the addition of a new 250-unit multifamily residential community.  Ram is excited to have Rhino Market join Free Range Brewing as part of the project, providing a valued amenity to our future residents and surrounding neighborhoods.

“The goal for the commercial building is to create a design that tied together the old and the new, making sure we retained the character of the warehouse building and of the neighborhood,” says David Klepser, Ram’s lead developer on the deal.

The Collective, under development now, is slated for residential occupancy in spring of 2019 with retail joining earlier that year.  The five-story midrise will include 250 luxury studio, one, two and three-bedroom apartments as well as 2,000 square feet of additional retail space.  Complete with modern Class-A finishes and a full suite of amenities – including a gated parking garage, pool & outdoor lounge, pet wash station, record lounge, 24-hour fitness center with yoga studio, bike room and a makers space for DIY projects – the community is designed to appeal to NoDa’s eclectic renter.

“Our goal is to build a unique and attractive community that complements the vibrant character of the neighborhood,” commented David Klepser.  “We’re using distinguishing architectural styles, industrial-modern finishes, and blending the new development with the existing commercial building.  We want to create a complete live-work-play community that feels at home in the neighborhood.”

The development’s primary draw is its location, located less than two blocks from the 25th Street Station, part of the 9.3-mile Lynx Blue Line expansion.  Residents will enjoy a convenient gateway to Uptown, South End and the University area.  The community is also within walking distance to NoDa’s diverse collection of restaurants, galleries, and entertainment, as well as Cordelia Park and the Little Sugar Creek Greenway, a 19-mile trail that links NoDa to Uptown, Midtown, and Park Road/Montford.

The Collective project team includes partner Citisculpt, lender JPMorgan, architects BSB Design and 505Design, civil engineer LandDesign, interior designer SouthPark Interiors, general contractor VCC USA, property manager 5/ten Management, and commercial leasing broker Foundry Commercial.

About RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and multifamily 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; and Durham, North Carolina.

 

 

MEDIA CONTACT:

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

  • Jul
    27

Construction Begins on Hub South End, the Latest Mixed-Use Development from Ram Realty Advisors

July 27, 2018

Hub South End

(Charlotte, NC – July 26, 2018) – A highly anticipated multifamily mixed-use development recently started construction in Charlotte’s historic South End, bringing a street-activating concept to the currently underutilized corner at Dunavant and Hawkins Streets Slated for occupancy in spring of 2020, Hub South End includes 265 apartments – 29 of them two-story, street-level “townhome” designs — and over 22,000 square feet of new commercial retail, office, and co-working space, all with expanded sidewalks and porch areas to bring more energy to the public realm.

“Ram’s goal is to activate life at the street level,” says Rachel Russell Krenz, Ram Realty Advisor’s Director of Real Estate Development. “Hub South End will add a mixed-use development to what is currently a space poised for the changes that have been seen in the rest of South End, with careful attention to connecting all users of the future property to the dynamic neighborhood.”

The community is developed by Ram on an empty four-acre parcel in a neighborhood bustling with shops, breweries, art, restaurants, and entertainment.  From Hub South End, residents have direct access to the Lynx light rail, a short commute to the Charlotte Douglas International airport, and quick access to major highways.  Plus, Hub is less than two miles from uptown and its city nightlife, Bank of America Stadium, BB&T Ballpark, and more.

Ram has close to a decade of history in South End. The firm made a commitment to it by both placing a regional office there and investing in the strategic development of the area. Hub South End is another example of Ram’s belief in this vibrant neighborhood.

Ram, celebrating its 40th anniversary this year, is well-known for creating developments that offer a carefree-yet-sophisticated lifestyle. Its vision for Hub South End is a thoughtful design concept that allows residents to live in luxe brand-new apartments, work in private and shared co-working offices, and play in community spaces or simply enjoy the local flavor and nearby entertainment. The building includes studio, one-, two-, and three-bedroom apartments with the aforementioned handful of two-story floorplans with street- level entries.

The adjoining commercial space – significant in size when compared to other multifamily anchored mixed-use projects – is in addition to the professional co-working space within Hub South End’s multi-purpose Clubhouse.  Ram efficiently accommodates its residents’ ever-evolving work-life balance by providing ultra-convenience.

“The mixed-use asset allows Ram to leverage its decades of dual expertise in multifamily and retail, and to continue the work begun more than a decade ago when we committed to purchasing Design Center and participate in South End’s success.  Our office remains located in South End and we will be part of the community for the long term,” said Ms. Krenz. “The strategic partnership with Foundry Commercial on the office and retail leasing ensures quality tenants and continues Ram’s commitment to this up-and-coming destination.”

The Hub South End team includes partner Faison Associates, lender PNC Bank, architect Cline Design Associates, civil engineer and landscape architect McAdams, general contractor Concorde Construction, property manager 5/ten Management, and leasing broker Foundry Commercial.

 

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; and Durham, North Carolina.

 

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MEDIA CONTACT:

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

  • Apr
    20

HFF closes $29.3 million sale of and arranges $19.9 million financing for Fort Lauderdale-area retail center

April 20, 2016

MIAMI, FL  – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $29.3 million sale of Jacaranda Plaza, and secured $19.9 million in acquisition financing. The 173,044-square-foot, Publix-anchored retail center is located on 16.20 acres at 8249 West Sunrise Boulevard in the Fort Lauderdale-area community of Plantation, Florida. Situated on the “going home” side of Sunrise, the center is at the signalized intersection of University Drive and Sunrise with combined traffic counts of more than 105,000 vehicles per day.

HFF marketed the property on behalf of the seller, Ram Realty Services (Ram). Epic Real Estate Partners purchased the asset. Additionally, working on behalf of the new owner, HFF placed the five-year, 3.6-percent, fixed-rate loan with BankUnited.

The HFF investment sales team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

The HFF debt placement team representing the new owner was led by senior managing director Paul Stasaitis and managing director Adam Herrin.

Originally developed in 1974, Ram acquired interest in Jacaranda Plaza in October 2011 on behalf of Ram Realty Partners III through the purchase of a promissory note. Ram took title to the property in early 2012 through foreclosure.

Ram completed significant improvements to Jacaranda Plaza in 2013, including façade enhancements, fresh landscaping, and roof replacement. Ram also added Planet Fitness and Dollar Tree to an already-strong tenant mix including anchors Publix and Stein Mart, and a diverse mix of shop tenants, such as Regions Bank, T-Mobile, GNC and Gamestop. The shopping center was 86-percent occupied at the time of sale.

“Jacaranda Plaza is a remarkable success story for the Fund,” said Ram President Jim Stine. “We were able to secure a sub-performing loan at a significant discount and implement a value-add strategy that saw major improvements to the center. This is the type of retail deal we continue to pursue: we want to deploy our people and our capital in a way that creates a real impact in our core, urban markets and generates positive results for our investors.”

  • Apr
    18

Mainstreet at Midtown Introduces Five New Tenants

April 18, 2016

Palm Beach Gardens, Fla., April 18, 2016 – Ram Realty Services and Mainstreet at Midtown are excited to introduce five new restaurants and shops coming to Midtown in 2016. Blaze Pizza, OXXO Care Cleaners, and Iconic Eye Care Center are open for business. Bonefish Grill and 18/8 Fine Men’s Salon are scheduled to open in August 2016. The new tenants occupy a combined 13,078 square feet bringing total occupancy at Midtown to 96.5%, the highest in the mixed-use center’s history.

Midtown’s newest tenants will join a host of prominent shops and restaurants including Christopher’s Kitchen, Chipotle, J. Alexander’s, III Forks Steakhouse, Saito’s Japanese Steakhouse, California Closets, Gymboree Play & Music, and JFK Emergency Care Services.

Midtown’s New Tenants

Iconic Eye Care Center brings the Palm Beach area the finest in exceptional eye examinations combined with innovative and exciting eyewear from the best brands and independent designers from around the world. Iconic Eye Care’s own Dr. Adam Ramsey travels the world to view eyewear, searching for unique pieces not found elsewhere. Iconic unites form, fashion, and function to deliver the best eye care experience.

OXXO Care Cleaners is the ultimate in garment care with their dedication to quality service, the most technologically advanced garment care equipment, and environmentally friendly solvents. OXXO provides the convenience of round-the-clock service; drop off your clothes any time and access them any time using their Automatic Retrieval Machines. OXXO also uses non-toxic solvents that provide superior garment care without harming you, your clothes, or the environment.

Blaze Pizza fast fires top quality pizza at lightening quick speed. The creation of Executive Chef Bradford Kent, Blaze stocks their pizza assembly line with made-from-scratch dough, and healthy, artisanal ingredients. Get inventive with hundreds of custom pizza combinations or opt for one of the classics. Either way, your crisp, cooked-to-perfection pie will be ready to enjoy in 180 seconds.

Bonefish Grill specializes in market-fresh fish from around the world as well as savory wood-grilled specialties and hand-crafted cocktails. The Bonefish experience is based on the premise of simplicity, consistency and strong commitment to being incredible at every level. Founded over 15 years ago in St. Petersburg, Florida, Bonefish is proud to call Florida home and welcomes you to their newest Palm Beach Gardens location.

18/8 Fine Men’s Salon is the reinvention of the barbershop, designed to bring out the best in men. Thanks to their expertise in men’s hair care, styling, grooming products, and consultation, 18/8 provides the best services in a relaxing environment. 18/8 Salon is your trusted stop for a professional grooming experience.

About Midtown

Midtown is Palm Beach Gardens’ premier mixed-use community, embodying the “live-work-play” philosophy. Located on PGA Boulevard just west of Military Trail, Midtown boasts 96,000 square feet of nationally recognized restaurants, specialty boutique retail, and inviting event space, adjacent to a distinct condominium neighborhood. Midtown also hosts fun and exciting family events including Music on the Plaza, Eat to the Beat Food Truck Festival, and the Peace, Love and Wellness Festival. For more information visit http://www.midtownpga.com.

  • Dec
    3

Ram Expands Durham Footprint Through Acquisition and Development

December 3, 2015

Developer to transform 5 acres into 263-unit luxury apartment community

adjacent to Class A mixed-use building

Durham, N.C., December 3, 2015 – An affiliate of Ram Realty Services has acquired Pavilion East – a 97,000 square foot Class A mixed-use building – an adjacent 700 space parking structure, and 5 acres of adjoining land located at 2608 Erwin Road in Durham, NC. The mixed-use complex is adjacent to Duke University’s main campus and is walkable to a variety of medical and educational facilities, including the Durham VA Medical Center and Duke University Medical Center.

The property was acquired on behalf of one of Ram’s discretionary private equity funds, Ram Realty Partners III. The seller was the original development partnership led by Jim Anthony, the founder and owner of AACRE Properties, and current CEO and Principal for Colliers International Raleigh, which acted as agent for the Seller. The project was developed in phases beginning in 2004 and culminating in the 2008 completion of the Pavilion East component. Pavilion East is a four-story, Class A, mixed-use building comprising restaurants, retail, medical offices and 28 residential condominiums.  The acquisition did not include the residential condominiums.  The commercial component is 100% occupied with strong national and regional tenants including Duke University Health Systems, TGI Fridays, Chipotle, Smashburger, UPS Store and Another Broken Egg Cafe.

As part of the acquisition, Ram is planning to develop a new luxury rental apartment community that will be fully integrated into the existing mixed-use project.  The new project will include 263 luxury apartments in a unique three-building configuration, creating a variety of living environments at varied price levels.  The residences will be luxuriously appointed with open concept kitchens and wood cabinetry, stainless steel appliances, solid surface countertops, wood plank flooring, ample storage, and a full-size washer and dryer. Community amenities will include a 24-hour fitness center, co-work and creative meeting spaces with state-of-the-art technology, two courtyards with cabanas, pool and sundeck areas, and an outdoor kitchen.

“With over 12,000 students and 36,000 employees at our doorstep, demand for high-quality rental housing remains strong,” said Jennifer Stull, Ram Managing Director of Asset Management. “Our planned improvements to the existing complex, coupled with the introduction of new and unique residential options, will further enhance the vibrant walkable lifestyle along the Erwin Road corridor.”

Pavilion East and the future apartment development are part of Ram Realty Partners III, a $150 million private equity fund that has enabled over $450 million of investments. The acquisition is Ram’s second in Durham, having purchased Durham Festival, a 134,000 square foot Kroger-anchored shopping center, in 2009.  Ram has been an active investor and developer in the Triangle since 2001.  Most notably, Ram developed 140 West Franklin, a mixed-use project in downtown Chapel Hill.

“We continue to believe in the Triangle’s long-term growth prospects.  The region has one of the strongest and most diverse economies in the country.  The expansion of our investments in Durham reflects our confidence in the city’s future,” commented Ram CEO Casey Cummings. “It’s rare to secure a quality infill location with potential for further development in such a high-growth market.  We are particularly attracted by the influence that Duke University and the growing health and technology related fields have on the local economy.”

Cline Design is the architect for the residential development. Ram will break ground in the spring of 2016 and final delivery is planned for the summer of 2017.

  • Oct
    22

ARA Newmark Announces the Sale of a 260-Unit, Core Plus Community in Jensen Beach, FL

October 22, 2015

Jensen Beach, FL (October 2015) — ARA, A Newmark Company (ARA Newmark) announced the sale of Pineapple Cove, a 260-unit, luxury, garden-style apartment community located in Jensen Beach, Florida in Martin County. The property sold for an undisclosed price and was approximately 97 percent occupied at the time of sale.

The seller, Ram Realty Services (Ram) was represented by the ARA Newmark team of Executive Managing Directors Avery Klann and Hampton Beebe, Transaction Manager Jonathan Senn and Vice Chairmen Dick Donnellan and Marc deBaptiste, in the transaction.

Founded in 1978 and headquartered in Palm Beach Gardens, Florida, Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail as well as residential properties in the Southeast. Ram has notable history in Martin County, having developed Martin Downs, Martin Downs Town Center, Martin Square Mall, Pineapple Commons, Coquina Cove and Willoughby Cove. Currently, Ram has an active pipeline of over 2,500 units throughout the Southeast including exciting urban infill projects in West Palm Beach, Hollywood, and Doral, Florida.

PCCP, LLC (PCCP), in a joint venture with Silverpeak Real Estate Partners (Silverpeak) and Atlanta, Georgia-based Carroll Organization (Carroll) were the buyers. Carroll is a privately held owner and operator of multifamily real estate with approximately $2 billion of assets under management, and 18,000 units owned and operated. PCCP is a premier real estate finance and investment management firm focused on commercial real estate investments. Silverpeak is a full-service, diversified real estate investment and advisory business with over $10 billion of gross real estate assets under management. The company also manages real estate on behalf of commingled funds, separate accounts and for its own account.

Built in 2004, Pineapple Cove features lush, tropical landscaping and Spanish-style architecture surrounded by more than 55 acres of pristine wetlands. Community amenities include a tiki bar, a sparkling saltwater pool, a spa, a business center and a fitness center. Apartments are thoughtfully appointed with washers and dryers, spacious balconies, walk-in closets, wood plank flooring and vaulted ceilings.

“The acquisition of Pineapple Cove represents a unique opportunity for Carroll to own one of the top performing assets along Florida’s Treasure Coast, also known as Florida’s Research Coast, which consists of Martin, Indian River, Okeechobee and St. Lucie Counties,” said Klann. “We have seen a strong trend of South Floridian’s moving north along the coast, resulting in stellar growth in the area. The population within the Research Coast has increased nearly 37% in the last five years, attracting investment with the construction of new retail, entertainment and housing opportunities. Furthermore, incomes in the area are 14% higher than the state average – an excellent economic indicator for the area’s future potential.”

“We are very pleased with the outcome and what it means for our institutional partners; Pineapple Cove was one of Ram’s longest held and best performing assets,” commented Jennifer Stull, Ram Managing Director of Asset Management. “This is a bittersweet moment for us. Ram’s roots are in Martin County, but today we are focused primarily on urban infill projects like The Mark (Boca Raton, FL) and The Alexander (West Palm Beach, FL). To have achieved so much success in Martin County is a great affirmation of our vision, strategy and execution.”

About ARA, A Newmark Company 

ARA, A Newmark Company is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA Newmark comprises the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of global resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of more than $12.4 billion in real estate transactions in 2014. For detailed information on ARA Newmark’s extensive multihousing investment services, visit www.aranewmark.com.

About Newmark Grubb Knight Frank 

Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage

services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.

About Ram 

Founded in 1978, Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and residential properties in the Southeast. The group also selectively acquires debt secured by retail and residential properties. Ram is currently investing Ram Realty Partners III LP, a value-added fund targeting retail and multifamily properties in select high growth markets in the Southeast. Since 1996, the company has deployed in excess of $2.0 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida and Charlotte, North Carolina. For more information, visit www.ramrealestate.com.

About Carroll Organization 

Carroll Organization is among the leading privately-held real estate companies in the United States. Founded in 2004 and based in Atlanta, Carroll Organization focuses on multifamily properties, including acquisitions, property and asset management services, and fund management. The firm provides investment vehicles for a broad range of investors to access the multifamily real estate asset class and has raised over $700 million of equity through Carroll Organization sponsored funds and joint ventures. Carroll has successfully purchased and developed over $2 billion of real estate. Carroll Organization’s regional offices are located in Houston and Miami. Today, the company manages approximately 18,000 multifamily units in six states and has purchased other multifamily owner/operators throughout the U.S. The firm has also developed student housing, single-family residential and retail properties, and has overseen $50 million of construction management for both its owned and fee partners. From due diligence to execution, Carroll Organization has the internal capabilities and the external relationships to identify, underwrite, and close transactions. For more info, visit www.carrollorganization.com.

  • Aug
    17

Ram works with Loggerhead Marinelife Center to clean Juno Beach

August 17, 2015

groupphoto2

Ram employees and their families participated in the Ram-sponsored beach clean-up, put on by Loggerhead Marinelife Center.

Juno Beach, Fla. – August 17, 2015 – Ram Realty Services, a leading developer and real estate investment manager throughout the Southeast, sponsored Loggerhead Marinelife Center’s August beach clean-up in Juno Beach, Fla., last weekend. LMC is a non-profit that promotes conservation of Florida’s coastal ecosystems with a special focus on threatened and endangered sea turtles.

Ram sent a team of 16 employees and their family members to help clean trash off of the stretch of beach located just outside of the LMC facility on U.S. Hwy 1, where a variety of endangered sea turtles make their nests.

Ram and other community volunteers ultimately cleaned up 70 pounds of litter off of the beach in just one hour.

Loggerhead Marinelife Center holds a beach clean-up every month, with the next clean-up being the International Coast Clean-Up, a national beach-cleaning initiative, held on Saturday, September 19, from 8 a.m. to 9 a.m. For more information on events at LMC, ocean conservation and sea turtle protection, visit www.marinelife.org.

About Ram

Founded in 1978, Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and residential properties in the Southeast. The group also selectively acquires debt secured by retail and residential properties.  Ram is currently investing Ram Realty Partners III LP, a value-added fund targeting retail and multifamily properties in select high growth markets in the Southeast.  Since 1996, the company has deployed $1.7 billion in real estate transactions.  Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale and Tampa, Florida and Charlotte, North Carolina. For more information, visit www.ramrealestate.com.

About Loggerhead MarineLife Center

Loggerhead Marinelife Center is dedicated to ocean conservation efforts specifically through education and research efforts of LMC staff and volunteers, and is a leading authority in sea turtle education, research, and rehabilitation.