New Sterling fund poised for action after $286m deployment.Sterling American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Property Inc., a real estate investment affiliate of Sterling Equities and American Securities, L.P., announced the completed equity deployment of its $286 million Sterling American Fund IV L.P. This discretionary fund made investments in office and multifamily real estate opportunities across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , including many investments with strong regional joint venture partners. The announcement was made by Sterling American principals, Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Katz Katz , Bernard 1911-2003. German-born British physiologist. He shared a 1970 Nobel Prize for the study of nerve impulse transmission. , Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Wilpon and Tom Osterman. Sterling American Property IV acquired assets purchased for over $960 million since its launch in 2002. The portfolio consists of 3.9 million square-feet of office properties and 8000 multi-family units in 14 states. Major purchases include last year's $331 million acquisition of a 1.4 million square foot portfolio of Class-A office space in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . The completion of the investment program for Sterling American Property IV coincides with the inception of Sterling American property V L.P., a discretionary fund in excess of $450 million. Sterling American's principals said the company is now actively seeking real estate investment opportunities for its Sterling American Property V, targeting investments in the range of $10 to $400 million. Following in the success of Sterling American's prior four funds, Sterling American Property V will invest in all forms of real estate, with an emphasis on office and multifamily opportunities, and may also deploy as much as 25% of its capital for development opportunities. Since 1991, Sterling American's four consecutive real estate funds have invested in more than $3 billion in assets in 43 states. |
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