Sterling Core Income Fund I
Overview
Sterling Core Income Fund I, LLC, referred to as "Sterling REIT," is a newly established real estate investment entity managed by Sterling Pacific Financial, a California real estate finance and investment firm whose roots in California property date to 1998. The REIT acquires income-producing real estate in targeted regional markets where the asset holds a clear competitive advantage, and is targeting a $100 million capital raise to fund a conservative, low-leverage acquisition strategy. The initial portfolio is five California assets: four stabilized Class A self-storage facilities and a 58-unit live/work loft property in Downtown Los Angeles, together targeting a projected 6% annual yield paid through monthly distributions or reinvestment.
Why This Opportunity
Projected 6% annual yield: targeted distributions supported by property-level net operating income across the portfolio. The yield is projected only, is not guaranteed, and remains subject to asset performance, portfolio NOI, reserves, debt service, and final offering terms.
Income from stabilized assets: the initial portfolio is already operating and producing cash flow rather than carrying development or lease-up risk, with the storage facilities at or above stabilized occupancy.
Conservative low-leverage structure: the REIT is built to acquire assets, operate them efficiently, and pay leverage down over time, rather than relying on debt to manufacture returns.
Institutional third-party operators: the self-storage assets are professionally managed by Extra Space Storage, one of the largest self-storage operators in the United States.
Diversified across type and submarket: self-storage in the East Bay, the Central Coast, the Central Valley and San Benito County, plus residential and ground-floor commercial income in Downtown Los Angeles.
Monthly distributions or reinvestment: investors may elect to take distributions monthly or reinvest them into the REIT.
Manager with a long California record: Sterling Pacific Financial has underwritten California real estate since 1998 and serves as manager, responsible for investment strategy, asset evaluation, capital allocation, portfolio oversight, and investor communication.
Room to grow the portfolio: the $100 million target raise funds further acquisitions across self-storage, multifamily, retail, office, and small mixed-use property.
Deal Structure
Entity: Sterling Core Income Fund I, LLC, referred to as "Sterling REIT"
Manager: Sterling Pacific Financial
Structure: Real estate investment trust
Target capital raise: $100 million
Projected yield: 6% annually, projected and not guaranteed
Distributions: Monthly, with a reinvestment option
Leverage: Low-leverage, with debt reduced over the hold
Offering documents: Full PPM investment package
Initial Portfolio
Antioch Storage, Antioch, CA: A stabilized Class A self-storage asset in the East Bay market, professionally managed by Extra Space Storage and operating at stabilized occupancy.
Lompoc Storage, Lompoc, CA: A newer Class A self-storage facility on California's Central Coast, professionally managed by Extra Space Storage and operating above stabilized occupancy.
Los Banos Storage, Los Banos, CA: A stabilized Class A self-storage asset in a Central Valley growth corridor, professionally managed by Extra Space Storage, pairing current income with continued growth potential.
Hollister Storage, Hollister, CA: A strong-performing income asset in San Benito County, a market shaped by Silicon Valley migration and affordability trends, professionally managed by Extra Space Storage and producing consistent monthly cash flow.
Tailor Lofts DTLA, Downtown Los Angeles, CA: A mixed-use live/work loft property with approximately 58 residential loft units and two ground-floor commercial tenants, combining residential rental income with commercial tenant income.
Low-Leverage Strategy
Sterling REIT is designed as a low-leverage real estate investment company. Rather than relying heavily on debt to drive returns, the long-term strategy is to acquire income-producing assets, operate them efficiently, and reduce leverage over time. The approach is intended to preserve investor capital, reduce interest rate sensitivity, improve cash flow stability, increase equity ownership in the assets, strengthen the REIT balance sheet, and support durable investor distributions. The long-term objective is a portfolio whose equity value rises as its debt exposure falls.
Acquisition Strategy
Sterling REIT targets income-producing real estate in regional markets where the property holds a clear competitive advantage. Future acquisitions may include self-storage, multifamily, retail, office, and small mixed-use properties, building toward a diversified portfolio focused on stable cash flow, low leverage, and long-term equity growth.
Important Investor Note
Sterling REIT is a newly established investment platform. Any yield referenced is a projected yield only, is not guaranteed, and remains subject to change based on underwriting, acquisition timing, financing terms, market conditions, and operating performance. The initial assets, projected returns, distribution structure, capital plan, and investment strategy all remain subject to final offering documents, legal review, underwriting, acquisition timing, financing terms, and operating performance. Prospective investors should review the full PPM investment package, offering documents, and risk disclosures, and consult their own legal, tax, and financial advisors before making an investment decision. Foreign investors may face additional tax considerations related to REIT distributions, withholding requirements, FIRPTA, applicable tax treaties, investor structure, and jurisdiction, and should consult their own legal and tax advisors.
Documents
Review the sponsor’s full offering materials.
Goal & Allocation
This deal prioritizes current income and regular distributions over long-term appreciation.
2,000 is the maximum number of investors if everyone invests the minimum. Larger investments mean fewer spots.
Project Your Returns
Sponsor
Sterling Pacific Financial is a California-based real estate finance and investment firm focused on real estate-backed lending, asset management, and investment oversight. The firm's roots date to 1998, when the Fischer family began lending against California real estate, and its work before that was hands-on: acquiring, repairing, and restoring distressed property along the Central Coast. That operating history, rather than a purely financial model, is what the firm's underwriting is built on.
Sterling's experience spans private lending, bridge financing, real estate investment, development, and portfolio oversight across California markets. The firm is among the state's established private trust deed investment specialists, connecting investor capital to property through disciplined underwriting and long-term borrower relationships.
How Sterling Underwrites
Hands-on property knowledge: decisions grounded in direct experience of building and restoring California property, not financial models alone.
Disciplined review: collateral, structure, timing, and risk examined on every transaction.
Long-term relationships: repeat borrowers and investors built on trust and practical understanding rather than transaction volume.
Regional focus: a California concentration, centred on the Central Coast and Northern California, where the firm underwrites markets it knows directly.
Role in Sterling Core Income Fund I
For Sterling REIT, Sterling Pacific Financial serves as the manager, responsible for investment strategy, asset evaluation, capital allocation, portfolio oversight, and investor communication.
Sterling Pacific Financial is headquartered at 1205 Freedom Blvd., Watsonville, California, and holds California Financing Law License #605 4217.
The Market
Watsonville, CA
Sterling REIT is a California-focused vehicle. Its initial portfolio spans five distinct submarkets across the state, from the East Bay down through the Central Coast and Central Valley to Downtown Los Angeles, so no single regional economy carries the portfolio's income. The manager, Sterling Pacific Financial, operates from Watsonville on the Central Coast and has underwritten California property since 1998, which is the source of the local market knowledge the acquisition strategy depends on.
Portfolio Geography
East Bay, Antioch: Stabilized Class A self-storage serving the outer East Bay, one of the Bay Area's more affordable commuter markets.
Central Coast, Lompoc: Newer Class A self-storage in Santa Barbara County, operating above stabilized occupancy.
Central Valley, Los Banos: Stabilized Class A self-storage positioned in a Central Valley growth corridor along the state's main north-south freight and commuter routes.
San Benito County, Hollister: A strong-performing income asset in a market shaped by Silicon Valley migration and the affordability gap between San Benito County and Santa Clara County to its north.
Downtown Los Angeles: Tailor Lofts, a live/work loft property in the second-largest metropolitan economy in the United States, contributing both residential and ground-floor commercial income.
Why California
California combines constrained new supply with sustained demand across the property types Sterling REIT targets. Long entitlement timelines, limited developable land in established submarkets, and high construction costs restrict how quickly competing product can be delivered, which supports occupancy and rent durability in stabilized assets. Self-storage in particular is a demand profile tied to household movement, downsizing, and small business inventory, none of which depend on any one employer or industry.
Manager's Regional Footprint
Sterling Pacific Financial has lent against and invested in California real estate since 1998, concentrated on the Central Coast and Northern California. That history is what gives the manager direct familiarity with several of the submarkets the initial portfolio sits in, including the Central Coast and San Benito County assets, and it is the basis for sourcing future acquisitions in markets the firm already underwrites.
Common Questions
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