The Heights at West Midtown in Atlanta. Photo courtesy of The Worthing Cos.
Two Atlanta-based multifamily firms formed a strategic alliance they say will enhance their core capabilities.
Effective June 1, The Worthing Cos. transferred its property-management division to RAM Partners, which will provide lease-up services on all Worthing-sponsored developments. The move adds more than 60 employees to RAM and brings an additional 2,805 units to RAM’s apartment portfolio.
“This alliance allows Worthing to focus our team on creating unique multifamily developments in an environment where site selection, entitlement, design and high-quality construction are at a premium,” Worthing President Darin Collier said in a release. “Growth, for us, will result from continued investment in those capabilities.”
Worthing, which has been operating since 1985, specializes in the development of class-A multifamily properties, with assets in Texas and the Southeast. RAM is a full-service real estate management company that manages approximately 50,000 units throughout the U.S.
“RAM is absorbing a high-quality management team, who come to us with a lot of industry goodwill and from a firm with a 35-year tradition of doing things the right way, all the way,” RAM President Bill Leseman said. “We are starting new client relationships with several top-tier institutional owners, including Worthing itself. This opportunity offers tremendous positives for our business, and we are committed to growing both these new team members, as well as these new owner relationships.”