Sterling organization has on Melrose Ave. acquired two retail properties in Los Angeles with a single tenant. The investor acquired the assets through his third institutional value creation fund, Sterling Value Add Partners III, for $ 35 million.
The two properties are both on Melrose Ave., Melrose Place, and North Orlando Ave. the south corner.
The purchase of these two assets brings Sterling's total portfolio to 54 properties and 10 million square feet across the country.
