Ram Realty Partners III holds final close
Florida-based Ram Real Estate has held a $150 million final close for its Ram Realty Partners III. The value-added fund launched in September 2011 with a $200 million fundraising goal.
Ram Realty Partners III invests in retail and multifamily properties and will target eight or nine markets markets in the southeastern United States, says Brian Bode, managing director at the firm. The markets include Charlotte and Raleigh in North Carolina and Orlando and central Florida. Ram Realty Partners III has made six acquisitions to date, and buys real estate equity and distressed debt.
The fund held a $40 million first close in November 2011 and had initially targeted a final close for the end of 2012. Ram Realty Partners III extended its final close date to accommodate some investors that needed more time to finalize their commitments.
Specific investors in the fund were not disclosed, but the majori