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, announced the acquisition of 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.
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.
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 camp