Sterling Organization (“Sterling”), a vertically integrated private equity real estate investment management and services firm, today announced the final close of Sterling Value Add Partners IV, LP (“SVAP IV”). The Fund secured total capital commitments of $600 million, exceeding the $500 million target and hitting the Fund’s hard cap. 

SVAP IV (the fourth iteration of Sterling’s flagship retail real estate Fund) will primarily target value-add grocery-anchored shopping centers, neighborhood centers and power centers. The Fund garnered capital commitments from a diverse investor base including public and private pension plans, endowments and foundations, fund of funds and family offices.

“We would like to thank both our long-time partners and new partners for the trust they have placed in our team,” said Brian D. Kosoy, Managing Principal and Chief Executive Officer of Sterling Organization. “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. We expect the recent operational tailwinds of the last couple of years will persist for at least the remainder of the decade and we intend to leverage our vertically integrated platform and team’s expertise while we seek to execute on behalf of our partners.”

“We are deeply appreciative of our partners’ confidence in our team and their support of SVAP IV, particularly amidst an extremely challenging fundraising environment,” said Adam L. Munder, a Principal of Sterling Organization.

As of the date of this release, Sterling Organization and its affiliates have assets under management in excess of $2 billion.