(Charlotte, NC – September 15, 2021) – Ram Realty Advisors is pleased to announce the sale of The Collective, a mixed-use property that features 250 luxury apartments and 18,000 sf of retail space in Charlotte, North Carolina. Located in the vibrant NoDa submarket, the development was completed in July 2019. The community was owned by an affiliate of Ram Realty Partners IV LP and sold to AMAC Holdings today for $72.05 million. NorthMarq represented Ram in the disposition.
“Several years ago, we identified NoDa as an emerging market due its proximity to Uptown, connectivity to the LYNX Blue Line light rail, and mix of restaurants, arts, and entertainment. This area has developed into a popular neighborhood, attracting robust institutional investment,” said David Klepser, VP-Carolinas. “The Collective is further evidence of Ram’s ability to execute quality residential and retail projects, and the continued strength of the Charlotte market.”
The Collective, with an occupancy of 97% at the time of sale, was designed to be an attractive option for renters looking for urban living without compromising quality, style, and sophistication. The property is a National Green Building Standard (NGBS)-certified community, featuring a mix of studios, one-, two-, and three-bedroom floorplans. The best-in-class amenities include a co-work lounge, podcast room, fitness center with yoga space, resort-style swimming pool, and an “artist-in-residence” program providing a unique community experience. The retail, situated within a one-story, free-standing building developed in the 1950s, was renovated along with the construction of the multifamily portion of the site. Existing retail tenants include Free Range Brewery, Rhino Market & Deli, Mimosa Nail Bar, and Core 704, a local Pilates studio.
Ram has a regional corporate office in Charlotte and began investing in Charlotte in 2007, with the purchase of the Design Center in South End. Ram currently owns several assets in South End – Hub South End, Hawk, and Three30Five Apartments – and recently began construction on Everly, a 253-unit apartment community scheduled for completion in 2023.
Ram Realty Advisors LLC 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 $3.5 billion of capital. Ram and its predecessor entities were founded in 1978. The company is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, Florida; Charlotte’s South End and Chapel Hill, North Carolina; and Nashville, Tennessee. www.ramrealestate.com
ABOUT AMAC HOLDINGS
AMAC Holdings (AMAC) is a national real estate investor with a long-term opportunistic focus in commercial real estate founded by Ivan Kaufman and Maurice Kaufman in 2012 on the principles of hard work and discipline. AMAC's entrepreneurial spirit and strong capital commitment have allowed for the successful execution on a wide variety of investment opportunities. For more information, contact Jeremy Forman at JForman@AMACHoldings.com.
On behalf of Ram Realty Advisors:
Alchemy Communications Group
office: 561.935.9953 ext. 101
David Klepser Vice President – Carolinas Ram Realty Advisors firstname.lastname@example.org
On behalf of AMAC Holdings:
Senior Vice President