Sterling Real Estate Trustee Expands Stake

The transactions reflect ongoing participation in Sterling's dividend reinvestment plan and direct investments by affiliated entities.

October 20, 2025

New Activity Expands Direct Ownership

On October 15, James Wieland took steps to grow his position in Sterling Real Estate Trust. As trustee, he added to his holdings through two transactions: a dividend reinvestment and a direct purchase of common shares.

The bulk of the shares—roughly 2,569—came through Sterling’s dividend investment plan. Later that same day, Wieland purchased an additional 1,015 shares at $24 each. Together, these moves pushed his direct ownership to just under 199,000 common shares.

Layered Holdings Through Affiliated Entities

But his involvement doesn’t stop there. Through entities like James S. Wieland LLC, JKD, Inc., and the Wieland Legacy Trust, he holds significant indirect stakes in the company. These are structured as limited partnership units, which convert into common shares based on the terms outlined in Sterling’s LLLP agreement.

Unlike traditional securities, these units don’t carry expiration dates, reinforcing their long-term nature.

Filing Confirms Activity and Structure

The updated ownership was disclosed in an SEC Form 4 filed on October 17, with Michael P. Carlson acting as attorney-in-fact. The filing captures a pattern of ongoing equity activity that’s both planned and diversified—some shares acquired through structured programs, others through direct purchases.

Sterling isn’t publicly traded, but the trust still reports key changes in insider ownership. For trustees like Wieland, staying active in the equity structure—whether directly or through affiliated entities—helps maintain alignment with the organization and its governance.