BOCA RATON, FLORIDA
In September of 2006, Ram acquired the Palmetto Place office building and adjacent surface parking lots in downtown Boca Raton, Florida. The properties were acquired on behalf of Ram Realty Partners II LP with the intention of immediately launching a major mixed‐use development. However, in light of the global financial crisis, Ram elected to postpone the project.
In 2012, Ram redesigned and relaunched the project. It included the existing 67,000 square foot, class A office building, a future hotel site, and a mixed‐use building, The Mark at Cityscape. “The Mark” consisted of 208 luxury apartment units above 19,000 square feet of retail space and a 675‐space parking garage.
The office building was sold to an international family office. The hotel parcel was sold to a regional private development firm and is now home to a 200‐room Hyatt Place Hotel. In September 2015, Ram sold the final component of the project, The Mark at Cityscape, to a NYSE‐traded multifamily REIT.