Named Sterling American Property IV, the $300 million fund exceeded the company's initial goal of $225 million. Its first transaction was completed in December with the acquisition of the 300,000-sf, 16-story First Union tower in downtown Orlando for $30 million.
According to Tarak Patolia, Sterling's senior VP of acquisitions and dispositions, Sterling "plans to invest in office and multifamily assets [in the US]."
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