Sterling Expands Its Executive Team
Sterling Global Financial, the Bahamian-headquartered financial services provider with more than $9 billion in assets under administration and management, has expanded its executive team.
It has named finance and equity executive, Albert G. Rex, to its Sterling Mortgage Income Fund’s Board of Directors.
“Albert Rex brings a wealth of experience almost unmatched in his range of expertise,” said David Kosoy, Board chairman. “Over the past 40 years, he has steered more than $15bn in financing and equity solutions to commercial real estate developers and owners.
“I’ve known him for over 25 years, and his understanding of the investment industry and experience on various key real estate and planning boards results in him being one of the best directors a company can have. We are delighted that he has joined one of the fastest growing segments of our expanding company.”
In his role on the Sterling Mortgage Income Fund Board, Mr Rex will help develop policy for a fund that provides financing for large hotel renovations, luxury condominium development, complex multi-use construction projects and land acquisition for urban development.
Most of Sterling Mortgage Income Fund’s real estate financing is in the English-speaking Caribbean, though it has provided funding for projects in Boston, London, Miami and the UK.
Based in Fort Lauderdale, Mr Rex joined Walker & Dunlop in 2012. Since beginning with Travelers Insurance in 1977, he has been involved in over 1,500 loans totaling more than $15bn in transactions.
Mr Rex spent the majority of his career as a managing partner with Carey Kramer, a company he helped found in 1983, and ultimately owned solely from 2001 until he merged it with Collateral Real Estate Capital in 2005.
He is a graduate of University of Florida with a degree in finance and real estate, and serves on their Real Estate Advisory Board. He is also an active member of the Mortgage Bankers Association (MBA), Urban Land Institute (ULI), International Council of Shopping Centers (ICSC), and National Association of Industrial and Office Properties (NAIOP), where he has served as President of the south Florida chapter.
Sterling Mortgage Income Fund (SMIF) is the flagship debt investment fund managed by Sterling Global Financial. SMIF has more than $110m in assets under management.
Focusing on multiple exit strategies, borrowers with strong track records and disciplined leverage levels, the fund offers investors a strategy that delivers consistent returns with enhanced protection of investment principal.