Sterling Real Estate Trust

Sterling operates under the direction of the Board of Trustees, the members of which are accountable to the Trust and its shareholders as fiduciaries. However, Sterling has no paid employees and therefore retains a management company to manage Sterling's, and Sterling Properties' day-to-day affairs. For the period 2003 - the present, Sterling has relied upon Sterling Management, LLC as its external management company. Sterling Management's CEO, President and CAO serve concurrently as the Trust's executive officers. Sterling Management advisory and transactional services include the acquisition, disposition, investment, financing, ownership and management of multifamily properties. Sterling Management advisory and transactional services also include arranging for and managing real estate brokerage, rental, leasing, and property management.