Sterling American launched Sterling American Property V in April 2006. SAP V is a $609 million discretionary fund formed to invest in a broad range of real estate and real estate related assets, with an emphasis on office and multi-family properties with value enhancement opportunities.

Sterling American Property V is the fifth real estate investment fund organized by affiliates of Sterling Equities, Inc. and American Securities, L.P. Sterling Equities is the largest investor in this fund with an equity commitment of $150 million. American Securities has committed $20 million.

As of the first quarter of 2010, SAP V has deployed over 70% of the raised equity, acquiring approximately 4,600 residential units and 2.8 million square feet of office space.