Sterling Organization, a vertically integrated private equity real estate firm, has raised $198 million for Sterling Value Add Partners III, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
Sterling Value Add Partners III follows a value-added investment strategy in the retail sector, especially stabilized/core grocery-anchored shopping centers in major markets across the United States. The real estate fund is seeking to raise $500 million, according to IREI’s FundTracker database.
The fund’s predecessor, Sterling Value Add Partners II, held a $311 million final close in 2014. With leverage, the fund had more than $1 billion of buying power at the time of the close. The flagship fund in the series, Sterling Value Add Partners, closed in Dece
