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EX-10.1 - EX-10.1 - Sterling Real Estate Trustex-10d1.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 

 

Date of Report (Date of earliest event reported): June 21, 2018 

 

Sterling Real Estate Trust

d/b/a Sterling Multifamily Trust

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

North Dakota

 

000-54295

 

90-0115411

(State or other Jurisdiction of Incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

 

 

1711 Gold Drive S., Suite 100
Fargo, North Dakota

 

58103

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (701) 353-2720 

 

 

 

(Former name or former address if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2).

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     

 

 


 

Item 1.01 Amendment of a Material Definitive Agreement.

Amendment No. 1 to Seventh Amended and Restated Advisory Agreement

 

On June 21, 2018, Sterling Real Estate Trust (the “Company”) amended the Seventh Amended and Restated Advisory Agreement with Sterling Management, LLC, the Company’s Advisor (the “Advisor”).  The Amendment to the Seventh Amended and Restated Advisory Agreement, effective as of June 21, 2018,  extends the term of the agreement to March 31, 2019.    

 

The description herein of the Amendment No. 1 of the Seventh Amended and Restated Advisory Agreement is qualified in its entirety, and the terms therein are incorporated herein, by reference to the Amendment to the Seventh Amended and Restated Advisory Agreement filed as Exhibit 10.1 hereto.

 

Section 5 – Corporate Governance and Management 

 

Item 5.07 Submission of Matters to a Vote of Security Holders. 

 

On June 21, 2018, Sterling Real Estate Trust (the “Company”) held its annual meeting of shareholders.  At the meeting, the Company’s shareholders approved all of the following proposals as stated in the Definitive Proxy Statement on Form DEF 14A filed with the SEC on April 30, 2018:  

 

1.

Election of nine trustees to serve until the next annual meeting of shareholders and until their successors are duly elected and qualified. The result of the votes to elect the nine trustees was as follows:

 

Nominee

    

For

    

Withheld

    

Broker Non-Vote

 

Bruce W. Furness

 

5,210,655 

 

14,054 

 

 

James R. Hansen

 

5,210,655 

 

14,054 

 

 

Timothy L. Haugen

 

5,184,098 

 

40,612

 

 

Timothy A. Hunt

 

5,184,098 

 

40,612

 

 

Michelle L. Korsmo

 

5,210,655

 

14,054

 

 

Kenneth P. Regan

 

5,198,907

 

25,803 

 

 

Richard F. Savageau

 

5,210,655

 

14,054 

 

 

James S. Wieland

 

5,174,848 

 

49,862 

 

 

Lance R. Wolf

 

5,210,655 

 

14,054 

 

 

 

2.

Ratification of the appointment of Baker Tilly Virchow Krause, LLP to serve as independent registered public accounting firm for the year ending December 31, 2018. The proposal received: 5,196,984 votes For; 0 Against; and 27,725 Abstained.


 

Item 9.01 Financial Statements and Exhibits.

 

(c) Exhibits

 

 

 

 

Exhibit
No.

 

Title

10.1

 

 Amendment No. 1 to Seventh Amended and Restated Advisory Agreement

 

 

 

 

 

 

 

 

 

 

SIGNATURES 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

Sterling Real Estate Trust

 

 

 

Date: June 26, 2018

 

 

 

 

 

 

 

By:

/s/ Ryan M. Downs

 

 

Name: Ryan M. Downs

 

 

Title: President