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Sterling Organization Closes Latest Retail Real Estate Fund Hitting Hard Cap With $600 Million in Commitments
Sterling Organization, a private equity real estate investment management firm based in West Palm Beach, announced the final close of Sterling Value Add Partners IV, LP (SVAP IV). The fund secured $600 million in capital commitments, surpassing its initial $500 million target and reaching its hard cap.
SVAP IV will focus on value-add grocery-anchored shopping centers, neighborhood centers, and power centers. The diverse investor base includes public and private pension plans, endowments, foundations, fund of funds, and family offices.
"We thank our partners for their trust in our team," said Brian D. Kosoy, Managing Principal and CEO. "We are optimistic about the U.S. shopping center business and intend to leverage our platform and expertise."
Adam L. Munder, Principal at Sterling, expressed gratitude for the support amidst a challenging fundraising environment. Sterling Organization manages assets worth over $2 billion.
R. H.
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