X0206 3 2017-06-20 0 0001412502 Sterling Real Estate Trust NONE 0001709430 Korsmo Michelle L. 1711 GOLD DRIVE S., STE 100 FARGO ND 58103 0 0 0 1 Trustee Common Shares 608.0925 D Limited Partnership Units 16.50 Common Shares 32615.6390 I By Husband Pursuant to the LLLP Agreement of the operating partnership, holders of limited partnership units may, after a two year holding period, elect to have theirlimited partnership units redeemed. Upon a redemption request, Sterling Real Estate Trust has the option to purchase the limited partnership units directly,either in cash or in common shares of beneficial interest at an exchange rate of one-to-one. All 32,615.6390 Limited Partnership Units may be currently exchanged. These derivate securities do not have an expiration date. Exhibit List Exhibit 24 - Power of Attorney /s/Kenneth P. Regan, Attorney-in-Fact 2017-06-26