Ram Expands Tampa Bay Multifamily Footprint with Acquisition of Beacon 430

TAMPA, Fla.–(BUSINESS WIRE)–Mar 12, 2026–

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 acquisition of Beacon 430, a 327-unit apartment community located in Downtown St. Petersburg, Florida (Tampa MSA). The property was acquired by an affiliate of Ram Realty Partners VII.

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The acquisition reflects Ram’s strategy of investing in well-located multifamily assets within infill urban markets where development constraints limit new supply. Developed in 2014, Beacon is a four-story, elevator-served residential community situated on a 4.3-acre site spanning two city blocks in the heart of Downtown St. Pete. The property provides a low-rise residential alternative with extensive outdoor amenities in a submarket where limited site availability and rising land costs increasingly favor high-rise development.

Downtown St. Pete has emerged as one of Florida’s most vibrant urban submarkets, supported by strong population growth, a diversified employment base, and a highly walkable waterfront environment. The property is within walking distance of several of the area’s largest employers, including Johns Hopkins All Children’s Hospital, Orlando Health Bayfront Hospital, and the University of South Florida St. Petersburg campus, as well as the Central Avenue retail and entertainment district and the city’s waterfront cultural attractions.

Ram plans to implement a targeted value-add program focused on operational enhancements, common area and amenity improvements, and select unit interior upgrades designed to further position the property within the market.

“Beacon stood out to us because of its scale, location, and ability to offer a different residential experience than much of the new product in Downtown St. Pete,” said Nate Wilson, Vice President of Multifamily Investments at Ram. “We believe targeted operational improvements and selective upgrades will further strengthen the property’s position within the market.”

“The Tampa Bay area has been a primary market for Ram for more than two decades,” said Casey Cummings, Chief Executive Officer of Ram. “We have been investing in this market since 2000 and continue to see strong long-term fundamentals in Downtown St. Pete. Beacon represents another opportunity to expand our footprint in a market we know well.”

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

ADDIS ABABA, Ethiopia (AP) — At least 50 people have died and 125 others are missing after landslides hit three districts in southern Ethiopia following a week of heavy rains, a local official said Thursday.

The landslides happened in Gamo Zone and affected the Gacho Baba District, Kamba District and Bonke District, according to Gamo Zone director of disaster response Mesfin Manuqa.

Manuqa said that one person was pulled out of the mud alive during the rescue operation.

The Gacho Baba District communication chief, Abebe Agena, said most of those who died were found buried in the mud. It is not yet clear how many households were affected.

Tilahun Kebede, president of the South Ethiopia Regional State, expressed his sorrow over the disaster and urged residents to move to higher ground as rains continue.

“Given that it is the rainy season and these types of disasters could happen again, I am calling on communities living in the highlands and flood-prone areas to take the necessary precautions,” he said.

Mudslides and floods caused by heavy rainfall are common in Ethiopia, especially during the rainy season.

In July 2024, a deadly mudslide caused by heavy rain claimed the lives of 229 people in southern Ethiopia.