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