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SAN FRANCISCO-Sterling American Property Inc. of New York is opening its first office on the West Coast at 120 Montgomery St. Heading up the operation will be David Ash, most recently a managing director for the San Francisco office of the Eastdil Secured, now a subsidiary of Wells Fargo. The 17th floor office will be up and running next week.

While at Eastdil for the past seven years, Ash’s responsibilities included coordinating the firm’s nationwide multifamily efforts while also handling the disposition and financing of primarily office and multifamily properties in the Western US. At Sterling American, his responsibilities will include sourcing new investments and joint venture relationship opportunities in Western US. His primary focus will be on Orange County, Los Angeles, the San Francisco Bay Area and Seattle.

“Transaction volume everywhere is down substantially and I had done business with Sterling and knew they wanted to open a West Coast office; they have substantial capital and are interested in aggressively putting it to work, taking advantage of the opportunities they are others see in the market going forward,” Ash tells GlobeSt.com. “Their focus is on office and multifamily, the two areas I’ve focused on most during my career, and they wanted someone who has worked these markets, which I have my entire career. It is great fit.”

Ash will report to Sterling’s chief investment officer Tarak Patolia, who has heretofore been covering the West Coast on his own from New York. “David will provide Sterling a day-to-day presence in these evolving and dynamic western region markets” Patolia said in a prepared statement.

For its last two funds, Sterling has acquired 3 million sf of commercial assets on the West Coast along with 6,000 apartment units. Ash, while at Eastdil, was involved in the sale or financing for 50 transactions valued at $7.5 billion. Prior to Eastdil, Ash worked on West Coast acquisitions and dispositions for UBS Realty Investors, a Hartford-based pension fund advisor, in its San Francisco office.

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