Joel S. Thomsen acquired over 450 common shares at $24.22 each, reflecting the REIT’s recently updated share pricing.

April 20, 2026

Trustee Adds to Holdings

Sterling Real Estate Trust trustee Joel S. Thomsen added to his beneficial ownership stake in the company through the dividend reinvestment plan, according to a securities transaction disclosure submitted to the SEC on April 17, 2026.

The transaction, which took place on April 15, 2026, involved the acquisition of approximately 412 common shares held directly by Thomsen and roughly 39 additional shares held indirectly through his wife. Both transactions were completed at a price of $24.22 per share, consistent with the dividend reinvestment plan pricing.

Updated Ownership Position

Following the transactions, Thomsen beneficially owned approximately 31,742 shares directly and about 2,999 shares indirectly through his spouse, bringing his total beneficial ownership to approximately 34,741 common shares of Sterling Real Estate Trust.

The $24.22 per share price reflects the dividend reinvestment plan rate that took effect on January 1, 2026, when the board approved an increase in the redemption price from $22.80 to $24.22. As detailed in the company’s recent annual report, Sterling’s board also raised the estimated common share value from $24.00 to $25.50 per share at that time. Under the trust’s dividend reinvestment plan, eligible shareholders can purchase shares at 95 percent of the estimated value for reinvested dividends, which corresponds to the $24.22 price reflected in Thomsen’s transaction.

About Sterling Real Estate Trust

Sterling Real Estate Trust, headquartered in Fargo, North Dakota, is a real estate investment trust focused primarily on multifamily apartment properties. The company reported strong results for fiscal year 2025, with total rental revenues of approximately $174.4 million and a portfolio spanning 175 properties across 12 states. The trust’s shares are not publicly traded on any national exchange.