Ram Realty forms joint venture to buy 38 nonperforming loans

Palm Beach Gardens-based Ram Realty Services has formed a joint venture
with New York’s Square Mile Capital Management to acquire 38
nonperforming loans worth around $150 million. The loans include the
$3.1 million mortgage on the office/retail building at 314 Clematis
Street in West Palm Beach, which has been in foreclosure since September 2009. Another West
Palm Beach property, the 18,092-square-foot Tarrybrooke Square at 2835
N. Military Trail, has a $1 million mortgage. [SFBJ]