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million. of Palm Beach Gardens, Fla., operatint as Durham Festival LLC, purchasedc the 16-year-old shopping center from of Houston in a deal that was finalized onJune 30. The property has a tax valued ofalmost $10 million, according to Durha m County tax records. Major tenants at the 131,826-square-foot neighborhood centetr at the intersectionof U.S. 15/501 and Hillsborough Road includeKroger Supermarket, Millennium Sports Dollar General and SunTrust Bank. The property is on 11 acres. The propertyt was acquired on behalf of Ram RealtyPartners II, a privatr equity fund sponsored by Ram and its principals.
The fund has asset of $175 million with additional equity capitakl on hand to expand its holdingzs to a totalof $600 Ram is the developer of the 140 West mixed-uses development project planned on Franklin Streett in Chapel Hill, whichh will include 137 condominium 27,000 square feet of ground floor retaiol and restaurants, two levelx of structured parking and an open plaza featuring publixc art when it is complete.
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