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RAM Cos. Secures Equity Partner

MIAMI-The locally based firm plans to buy up to $50 million of industrial properties in New England and South Florida.

By Crystal Proenza | Updated on March 04, 2009

(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-Locally based RAM Cos. has secured an equity partner that will allow the firm to focus on opportunistic industrial property acquisitions over the next year. The unnamed partner, described as a well-established New England-based private wealth management firm, includes investments from high-net-worth individuals. The exact amount of financing has not been disclosed, but will give RAM the ability to purchase between $25 million and $50 million worth of industrial assets, Todd Goldenfarb, vice president of acquisitions and development, tells GlobeSt.com.

The newly formed partnership will focus on assets in New England and South Florida. “We look around the Boston area a lot where we own several properties, ” says Goldenfarb. “ We are also looking the Airport West submarket in Miami-Dade County, and will also look in Broward, Palm Beach and Seminole counties.” Industrial assets in these areas have not been overbuilt like other product such as office and residential, he indicates.

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