US real estate investment manager Ram Realty Advisors has acquired a 197,000sqft shopping centre in Florida from Orion Real Estate.
Ram Realty has invested an unspecified sum to acquire The Shoppes at Jupiter, with plans to reposition the asset as part of its broader value‐add retail strategy.
Ram Realty said the acquisition progresses its dedicated grocery-anchored retail platform, which targets “essential retail in high-barrier-to-entry Southeast US markets.
Ram Realty said it has also secured a lease with Whole Foods Market for the store to serve as the property’s anchor tenant.
Brian Maloney, principal at Ram Realty, said: “The Shoppes at Jupiter offers a rare opportunity to execute a transformative business plan in one of South Florida’s most high-demand retail corridors.
“Securing Whole Foods Market prior to acquisition underscores our team’s ability to understand grocer needs, while creating value for our investors and the community.”
Casey Cummings, CEO at Ram Realty, said: “Following our recent portfolio acquisition, this investment further advances our commitment to expanding our retail presence throughout the Southeast.”
To read the latest IPE Real Assets magazine click here.
