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Sterling Real Estate Trust announced the upcoming departure of its Chief Financial Officer and Treasurer, Elizabeth Reich. Her resignation is effective May 23, 2025. The company stated that Reich’s decision to leave is not due to any disagreements with the Trust’s operations or policies.
The North Dakota-based real estate investment trust, which operates under the name Sterling Multifamily Trust, disclosed this information in a regulatory filing with the Securities and Exchange Commission today. According to the document, the Trust is collaborating with Sterling Management, LLC to find a suitable replacement for Reich. Sterling Management, LLC is responsible for the Trust’s daily management and employs its officers.
Reich’s tenure with Sterling Real Estate Trust was marked by dedication and loyal service, as acknowledged by the Trust in their statement. The Trust expressed its gratitude to Reich for her contributions and efforts during her time with the company.
The announcement comes amid a period of executive transitions within the industry, highlighting the importance of effective leadership in the real estate investment sector. The Trust is working to ensure a smooth transition as they seek a new CFO to oversee their financial strategy and operations.
Sterling Real Estate Trust, which has its principal executive offices in Fargo, North Dakota, did not provide further details regarding the reasons behind Reich’s resignation or the criteria for her successor. The Trust’s management and board are expected to provide updates as the search progresses and a new appointment is made.
This news is based on a press release statement from Sterling Real Estate Trust filed with the SEC.
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