Paul Hastings LLP, a leading global law firm, announced today that the firm represented Sterling Value Add Partners II, L.P. and its sponsor, The Sterling Organization, LLC, in the formation of a $311 million private investment fund that will focus on acquiring and managing value-add retail and mixed-use real estate investments in various target markets in the United States. The Fund held its final closing on December 9, 2014, raising capital from a diverse investor base including, among others, public and private pension funds, endowments and private foundations. Paul Hastings also represented the Fund in establishing a $75 million subscription line credit facility.
The Sterling Organization is a full service, vertically integrated real estate investment firm headquartered in Palm Beach, Florida. Paul Hastings previously represented The Sterling Organization in the formation of its initial $138 million fund, Sterling Value Add Partners, L.P.
Lawrence Hass, the global head of Paul Hastings’ Private Investment Fund Practice Group, led the firm’s efforts on the formation of the Fund, aided by tax partner Andrew Short and associates Jonathan Panek, Max Rosenberg and David Makso. Corporate partner Thomas Rao handled the work on the Fund’s subscription line credit facility.
Source: www.paulhastings.com
