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Sterling Organization markets new fund

by Andrea Waitrovich

Sterling Organization is marketing a new fund, Sterling United Properties, according to the IREI FundTracker Database. The fund will focus on grocery-anchored retail in the United States.

Recently, Sterling Organization held a final closing of its second discretionary closed-end fund, Sterling Value Add Partners II, with total capital commitments of $311 million, exceeding its $275 million target. With leverage, Sterling Value Add Partners II has more than $1 billion of buying power. The value-added fund will target grocery-anchored shopping centers, power centers, enclosed malls, mixed-use properties and urban retail assets in major markets across the United States.

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