North Carolina

  • 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

  • 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.

  • Aug
    11

Two-phase value-add strategy at Rock Creek at Ballantyne completed

August 11, 2015

DSC00751
  • Ram completes two-phase, value-add strategy for existing apartment community
  • Property is 97 percent occupied

Charlotte, N.C., August 11, 2015 – Ram Realty Services, a leading developer and real estate investment manager throughout the Southeast, is excited to announce the completion and lease-up of Phase II of Rock Creek at Ballantyne Commons, an upscale apartment community located in the Ballantyne neighborhood of Charlotte, N.C. Phase II contains 118 new apartment units in four buildings and is 100 percent occupied.

Ram purchased the property, previously named Piper Station Apartments, in December 2012. Upon acquisition, the property included 212 apartments and a stalled townhome development on an adjacent seven-acre property. Ram executed an aggressive two-phase value-add strategy.

Phase I redevelopment began in January 2014 and encompassed renovations to the existing 212 units, clubhouse, pool deck and surrounding landscape, as well as the ground-up construction of a new fitness building. Phase I concluded in July 2014, with the exception of continuous upgrades of apartment interiors.

Phase II construction began in December 2013 on the adjacent lot, including development of three buildings totaling 113 new apartment homes, and the renovation of five existing town homes.

Ram began pre-leasing Phase II in November 2014 to strong market demand. Combined occupancy of both phases is currently 97 percent.

 

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