News

Paul Hastings Represents Sterling Value Add Partners II in the Formation of a $311 Million Fund

December 18, 2014

New York, NY - 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

and associates

and

. Corporate partner

handled the work on the Fund’s subscription line credit facility.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.