Sterling Organization Closes $600M Retail Real Estate Fund

Sterling Organization, a West Palm Beach, FL-based private equity real estate firm, closed its fourth iteration of its flagship retail real estate fund, Sterling Value Add Partners IV, LP at $600 million, firmly above the $500 million target and hitting its hard cap.

The fund will largely target value-add grocery-anchored shopping centers, neighborhood centers and power centers. The Fund attracted commitments from public and private pension plans, endowments and foundations, fund of funds and family offices.

“After enduring the challenging operational and capital markets conditions for brick-and-mortar retail from 2008 through 2021, we at Sterling are now very bullish as we look forward at the U.S. shopping center business and investing therein,” said Brian D. Kosoy, managing principal and CEO of Sterling Organization.

Kosoy expects the recent operational tailwinds of the last couple of years to persist for at least the remainder of the decade.

Sterling Organization and its affiliates have more than $2 billion in assets under management.