Ram Realty Services, based in Palm Beach Gardens, has announced the disposition of the Apartments at Stonehenge in a $56.7 million transaction. Located in Raleigh, North Carolina, the 452 unit property changed hands for $125,442 per unit. The property has three swimming pools, a two-story clubhouse with fitness center, indoor sports courts, lighted tennis courts and a playground. Ram Realty bought property in 2012 for $40.2 million and invested another $2.5 million in property upgrades, including rebranding a 96-unit section with upscale interior finishes as The Reserve at Stonehenge. Chicago-based property investor Magnolia Capital acquired the asset which was 94 percent leased at the time of the sale.
