Ram Real Estate raises more than $100 million for third fund

Ram Real Estate has raised approximately $101 million for its Ram Realty Partners III (RRP III), according to a filing with the Securities and Exchange Commission. The value-added fund was launched in September 2011 with a $200 million fundraising goal. Ram Real Estate held a $40 million first close in November 2011. The firm aims to hold a final closed date by Nov. 15.

RRP III will make investments in retail, multifamily and mixed-use development and redevelopment projects in the Southeast — primarily in and around Atlanta; Charlotte, N.C.; Miami; Orlando; Raleigh, N.C.; and Tampa, Fla. The fund typically will invest $10 million to $50 million of equity into each deal.

The vehicle was Ram Real Estate's first since August 2008, when it held the final close for Ram Realty Partners II (RRP II) with $194 million, below its $350 million equity target. RRP II targets commercial, multifamily and mixe