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$250M investment fund formed.

Sterling Equities Inc. and American Securities Corporation have announced the formation of an investment group for the purpose of acquiring more than $250 million in real estate assets. The group, Sterling American Property L.P., said current emphasis would be on residential, income-producing properties.

The two general partners, affiliates of Sterling Equities and American Securities, will invest in each property on a "pari passu" basis with the group's other limited partners.

Richard A. Wilpon, Executive Vice President of Sterling Equities said the partnership would be managed in a conservative fashion combining low levels of leverage with high current returns.
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Title Annotation:$250 million real estate investment group
Publication:Real Estate Weekly
Date:Jun 10, 1992
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