Sterling Global’s Sterling Mortgage Income Fund is turning ten years old and has more than $1 billion in projects under development in The Bahamas, a statement on the fund explained.
Sterling Global Financial Chairman David Kosoy said the fund has provided a consistent yield despite volatile capital markets and economic shifts.
“We are very proud of our track record,” said Kosoy in the statement.
“The Sterling Mortgage Income Fund has succeeded in protecting investor capital while providing a very attractive income stream.”
According to the statement, the fund has an unbroken record of double digit returns for investors in its ten-year history. The statement adds that the fund has achieved top marks for investor security from fund ratings institutes.
Sterling Global Financial Chief Executive Officer Stephen Tiller said the secret to the fund’s success is its ability to provide “quick, flexible and reliable financing”, along with the company’s expertise in real estate and construction.
Among Sterling’s projects are the Paradise Landing development, which is creating a ‘Downtown Paradise Island’ with luxury residential, retail, and professional office spaces and dining; and the Hurricane Hole Superyacht Marina. Sterling is also developing Montage Cay in Abaco.
“Its real estate funding activities stretch throughout the globe providing senior financing, bridge financing, mezzanine and development financing in key markets across North America and certain European markets,” the statement said.
“It has successfully funded approximately 100 mortgages totaling more than $350 million since its launch in 2012, financing residential communities, mixed-use projects, retail and marinas.”
Kosoy added: “Maintaining a flexible approach with the capacity to act quickly and remain within an institutional-grade risk management framework has been the basis by which the mortgage fund has operated, a model that will continue to serve as the foundation for future growth.”
