Sterling Properties, LLLP

REIT / finance
Rule 506(b)
Fargo, North Dakota
Amended Oct 19, 2026

Raising: $200,000,000
Sold so far: $69,770,161; 35% sold
Investors: 67; 5 non-accredited
Average check: $1,041,346; Sold ÷ investors
Minimum: None stated
Sales commissions: $0; Issuer's estimate

In plain English

Sterling Properties, LLLP, a real estate finance business based in Fargo, North Dakota, filed an amended Form D with the SEC on Oct 19, 2026 to raise $200 million. It reports about $69.8 million raised from 67 investors, 5 of them non-accredited, 35% of its target. That works out to roughly $1,041,000 per investor. It didn't state a minimum investment.

It filed under Rule 506(b), which means the offering can't be advertised to the public. Investors in these deals usually already have a relationship with the sponsor.

How it compares

Against the 594 real estate offerings filed Oct 6 – Nov 4, 2026.

This offeringMedian

Raise size$200M vs $7.7M median

Larger than 95% of the 460 offerings that set a size.

How much is sold35% sold vs 50% median

Behind 55% of the 460 offerings with a set size.

Minimum investmentNone stated vs $50,000 median

167 of the 594 offerings didn't state one either.

Where the sponsor is based

The North Dakota housing market

Typical home value $291KChange, 12 months 5.1%

Form D lists the issuer's principal place of business, not where its properties are. Home values for Sep 2026.

See North Dakota market data

Filing details

File number: 021-286440
Latest filing: Form D/A (amendment), Oct 19, 2026
Accession number: 0001437749-26-032884
Entity type: Limited Liability Limited Partnership
Industry group: REITS and Finance
Principal place of business: Fargo, North Dakota
Exemption claimed: Rule 506(b)
First sale: May 1, 2017

Timeline

First sale
May 1, 2017
Latest amendment (Form D/A) filed
Oct 19, 2026
$69.8M sold (35% of the target)
As reported Oct 19, 2026

Other recent filings from North Dakota

All fund filings

This page summarizes a notice Sterling Properties, LLLP filed with the SEC. Fidelis First is not affiliated with Sterling Properties, LLLP, has not reviewed this offering and does not recommend it. Nothing here is an offer to sell or a solicitation of an offer to buy any security. Figures are as the issuer reported them on Oct 19, 2026 and may have changed since.

Sales commissions are the issuer's estimate for the whole offering, not amounts paid so far. Average check is derived: amount sold divided by number of investors. Issuers don't have to amend a Form D when sales or investor counts change, so these can lag.

Source: SEC EDGAR, Form D · As of Oct 19, 2026

Source: Data Provided by Zillow Group · As of Sep 2026