Ram Realty Advisors (“Ram”), a real estate investment management firm specializing in multifamily, grocery-anchored retail, and mixed-use in select high-growth markets throughout the Southeast, today announced the disposition of two retail assets in North Carolina: Elliott Square in Chapel Hill and Midtown Corner in Raleigh.

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Elliott Square, Chapel Hill, NC

Elliott Square, a 69,000-square-foot retail center in Chapel Hill, was acquired by Ram in 2016 and sold following a fully marketed sale process. The value-add acquisition supported Ram’s subsequent development of The Elliott, a 272-unit multifamily community located adjacent to the center. Over the course of its ownership, Ram executed a targeted business plan to renovate and reposition the shopping center while advancing the broader mixed-use vision for the site. The property was 87% leased at sale.

Midtown Corner, a 70,000-square-foot retail center in Raleigh’s Midtown district, was acquired by Ram in 2019 and sold following a fully marketed sale process. Ram pursued a comprehensive redevelopment and re-merchandising strategy at the property, which included re-tenanting the anchor space, constructing new outparcel buildings, and executing a series of new leases and renewals with national and regional operators. Through a thoughtful capital improvement and leasing plan, Ram transformed Midtown Corner into an institutional-quality asset within one of Raleigh’s most dynamic submarkets. The property was 100% leased at sale.

“These transactions reflect the effectiveness of our local operating expertise and our ability to drive business plans through exit,” said Casey Cummings, Chief Executive Officer of Ram. “Our team is deeply embedded in the Southeast U.S. markets where we invest, and that local presence continues to be a meaningful differentiator.”

“The dispositions of Elliott Square and Midtown Corner are part of an ongoing transition toward a high-quality grocery-anchored retail portfolio,” said Brian Maloney, Principal and Head of Retail at Ram. “We continue to expand our grocery-anchored holdings in the Triangle and throughout the Southeast.”

Ram continues to own a significant portfolio in the Triangle, including University Place and 900 Willow in Chapel Hill; Wye Junction, Homestead Market, and Bull City Market in Durham; and Holly Springs Crossing in Holly Springs.

About Ram

Ram Realty Advisors LLC is a real estate investment management firm specializing in multifamily, grocery-anchored retail, and mixed-use in select high-growth markets throughout the Southeast. The firm’s portfolio comprises assets across the investment risk spectrum, including core-plus, value-add, and opportunistic strategies. Founded in 1978, Ram and its predecessor entities have deployed over $5.0 billion of capital on behalf of institutional partners. The firm is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, Florida; Charlotte and Chapel Hill, North Carolina; and Nashville, Tennessee. www.ramrealestate.com

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“Our team is deeply embedded in the Southeast U.S. markets where we invest, and that local presence continues to be a meaningful differentiator.”