Sterling Global Financial Reassures 1,500 Investors 'No Damage'
With more than 1,500 investors around the world keeping an eye on their interests in The Bahamas, Sterling Global Financial today reassured them that all of their properties and investments in the country came through Hurricane Irma unscathed.
“We realized that as soon as the hurricane began bearing down on The Bahamas, our investors would be concerned about the company’s assets here so we wanted to put their minds at ease and reassure them that our properties and their investments are 100% intact with no damage,” said David Kosoy, Chairman and CEO.
According to Steve Tiller, President and COO, Sterling Global Financial had quickly moved part of its operations to its Cayman office as a precaution to enable the firm to provide uninterrupted service in case of catastrophic damage.
“As it turned out, most of The Bahamas was spared though our hearts go out to those everywhere who were so hard hit, especially in Bimini and the southern Bahamas where many of our staff have family,” said Tiller. “We are also advising our clients that we will continue to monitor Hurricane Jose which has a relatively low chance of hitting The Bahamas.”
The company, which specializes in large-scale real estate debt and equity, also reassured clients that all development loans are insurance protected.
Among Sterling’s projects in The Bahamas are ONE Cable Beach, THIRTY SIX on Paradise Island, Beach House Villas, Paradise Island, Courtyard by Marriott, downtown Nassau, Ocean Terraces, West Bay Street, Matt Lowe’s Cay, Abaco and Sky Beach Estates, Eleuthera. It is also funding a share of the land acquisition for a major redevelopment of an iconic neighbourhood in South Boston.
The firm has won numerous awards for its performance and continues to have an excellent Sharp ratio, which measures risk/reward. It administers or manages US$9 billion in assets and in 2016 opened Sterling Bank & Trust (Bahamas) Ltd. Its headquarters are located on East Bay Street, Nassau.