By Brian Bandell – Senior Reporter, South Florida Business Journal | Mar 2, 2021 | Click here to view the original article.
Ram Realty Advisors broke ground on an apartment/commercial project in Oakland Park after buying the property from Walmart.
Wells Fargo Bank provided a $55.7 million construction loan to RRPV Oakland Park MF and RRPV Oakland Park Comm, both affiliates of Palm Beach Gardens-based Ram Realty Advisors. They developer recently acquired the 12.1-acre site at 670 E. Oakland Park Blvd. from Walmart (NYSE: WMT) for $16.5 million.
Ram Realty Advisors filed notice with the county that it started work on 300 apartments and 5,000 square feet of commercial, including a Sprouts Farmer’s Market (Nasdaq: SFM) store. Kaufman Lynn Construction is the general contractor.
MSA Architects designed the apartment project while Barranco Gonzalez Architecture crafted the commercial portion.
It’s a few blocks west of North Dixie Highway. It's along the North Fork of the Middle River.
Walmart acquired the property 2012 for $5 million after Kmart closed, but it never opened a Walmart there.
About Ram
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 $3.2 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 Charlotte and Chapel Hill, North Carolina.
Media Contact
Kelly Owens Alchemy Communications Group ko@alchemycommgroup.com office: 561.935.9953 x. 101 mobile: 561.222.4958
Jennifer Stull Ram Realty Advisors jstull@ramrealestate.com office: 561-630-6110