Real estate development financing firm Sterling Global Financial has announced it is set to launch a new advisory arm, to be headed by former Bahamas Minister of Investments Khaalis Rolle.

The new company, Sterling Global Advisors Ltd, follows on the heels of Sterling’s launch last year of Sterling Bank & Trust (Bahamas) Ltd.

“The new advisory firm will allow the firm to consolidate and provide a more strategic focus on a component of its business which was previously viewed as value-added for existing clients,” says Sterling chairman David Kosoy.

Rolle, who currently serves as Sterling’s Senior Executive Vice President, and will become managing director of Sterling Global Advisors, adds: “Sterling Global Financial has largely built its reputation and singular positioning by responding to needs for financing ranging from high-end homes, commercial shopping centres, luxury condo developments, private islands and resort developments.”

“The creation of Sterling Global Advisors expands the role we serve with clients and investors by providing guidance, direction and, in some cases, operations management skills. This will allow us to take on new roles that we have the skill sets for, including advising on private placement offerings, consulting and advising governments and quasi-government entities and for-profit and not-for-profit institutions. This will strengthen Sterling in important ways by creating a sustainable path for our continued growth through the expansion of our relationship with new and existing clients in The Bahamas, North America and beyond.”

Many of the projects the firm finances or assists with financing are in The Bahamas and include ONE Cable Beach, THIRTY SIX on Paradise Island, Courtyard by Marriott in downtown Nassau, Ocean Terraces, West Bay Street, Matt Lowe’s Cay, Abaco and Sky Beach Estates, Eleuthera.

The company is headquartered in Nassau and has some $9 billion under administration or asset management.