Scarborough, ME-based The RAM Companies, an acquisition, development, and management firm, has purchased the fully leased Atlantic Place office complex from 341 Park, LLC for $11.9 million. The building in South Portland, ME consists of three, one-story buildings on 8.58 acres.

The transaction was arranged by Jessica Estes and Drew Sigfridson of The Boulos Company.

According to The Boulos Company, Howard Goldenfarb, developer and founder of The RAM Companies, has been acquiring historic yet underutilized properties in the Old Port Exchange district for over four decades. RAM plans to invest in the building by renovating the building exteriors and common areas, installing electric car charging stations, upgrading lighting, parking lots, heating and air systems and landscaping to reposition this complex to be considered Class A office space.

RAM is retaining The Boulos Company as its agent for future leasing activity at the property.