Paul Hastings LLP advised Sterling Organization (Sterling) in the formation of Sterling Value Add Partners IV (SVAP IV), which represents Sterling’s newest real estate private equity fund in its flagship retail real estate fund series.

SVAP IV secured capital commitments of $600 million, exceeding the $500 million target and hitting the fund’s hard cap. SVAP IV will primarily target value-add, grocery-anchored shopping centers, neighborhood centers, and power centers. 

The fund secured capital commitments from a diverse institutional investor base including public and private pension plans, endowments and foundations, fund of funds, and family offices.

Paul Hastings also represented the fund in establishing a subscription line credit facility.

Sterling is a vertically integrated private equity real estate firm with a national platform, focused on investing in retail and related real estate assets. The company is headquartered in West Palm Beach, Florida, with offices across the United States.

Partner Max Rosenberg led the Paul Hastings team, together with Of Counsel Sharon Mori; and associates Rob Wilson, Nick Harper and Dillon Farnetti. The subscription line credit facility work was led by partner Eric Schwitzer and associate Conor Anderson.

More information can be found here.

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