Our Officers

As an externally advised trust, our day-to-day operations are performed by our Advisor, Sterling Management, LLC. Our Chief Executive Officer, President and Chief Accounting Officer are also officers of Sterling Management, LLC, and among other things, oversee our day-to-day operations.

  • Ken Regan 2017
    Kenneth P. Regan
    Chief Executive Officer and Board Member

    Kenneth P. Regan Bio

    Mr. Regan serves as the Chief Executive Officer and Board Chair of Sterling Management, LLC. Mr. Regan has over 33 years of experience in the real estate industry. In March 1981, he cofounded the GOLDMARK companies with James Wieland.  Mr. Regan is the Chief Executive Officer, Chairman and co‑owner of GOLDMARK Property Management, Inc., one of our property management firms. He is also an owner of GOLDMARK Commercial Real Estate Inc. and GOLDMARK Development Corporation. 

    During his service to the GOLDMARK companies, Mr. Regan has been active in the acquisition, development, operation and management of multifamily and commercial real estate. Prior to co‑founding the GOLDMARK companies, he began his real estate career in 1979 with Warner and Company, located in Fargo, ND.  Prior to that, Mr. Regan worked as an Assistant National Bank Examiner for the OCC Division of the U.S. Treasury. He received a B.S.B.A. degree in Business Management from the University of North Dakota, and is a Certified Commercial Investment Member (CCIM), Certified Property Manager (CPM) and Graduate Realtors Institute (GRI). Mr. Regan is also a member of the FM Apartment Association, FM Area Association of Realtors and the National Association of Realtors. Mr. Regan also serves as Trustee and Chief Executive Officer of Sterling Multifamily Trust, a position he has held since 2007.

  • Ryan M. Downs
    Ryan M. Downs
    President & Secretary

    Ryan M. Downs Bio

    Mr. Downs joined as President of Sterling Management, LLC in July 2017. Prior to joining Sterling Management, LLC, he was the President of Thomsen Homes, LLC, a residential developer and construction firm in North Dakota. Prior, he was the Vice President of Business Integration & Finance at Nor-Son, Inc., a multi-faceted construction firm headquartered in Baxter, Minnesota. Mr. Downs has several years of experience in construction, finance and strategic leadership. Mr. Downs is a Certified Public Accountant licensed in Minnesota, which is currently inactive. Mr. Downs earned an undergraduate degree from the University of North Dakota and an MBA from St. Cloud State University.

  • Joel Thomsen 2017
    Joel S. Thomsen
    Chief Investment Officer

    Joel S. Thomsen Bio

    Mr. Thomsen joined as a governor of Sterling Management, LLC in May 2015. Prior to joining Sterling, he was the founder and CEO of the Black Arbor Group, a real estate investment and advisory firm. Prior, he was the Managing Director of Bell Wealth Management, a $5 billion investment firm as well as an equity partner for Eide Bailly LLP, Fargo where he was the lead partner of the national insurance practice and audit department head of the Fargo office.   

    Mr. Thomsen received his Bachelors of Accountancy degree from the University of North Dakota. He is a Certified Public Accountant (CPA) licensed in Minnesota and North Dakota which is currently inactive. He maintains a real estate license in North Dakota. He also has series 7 and 66 securities licenses and is a registered representative of Gardner Financial Services, Inc. He holds the Certified Financial Examiner (CFE) which is inactive and an Accredited Reinsurance Administration (ARA), also inactive. 

  • Angela Stock 2017
    Angela D. Stock
    Chief Accounting Officer

    Angela D. Stock Bio

    Mrs. Stock has served as our Chief Accounting Officer since September 2013. She has also served as the Chief Accounting Officer of Sterling Management, LLC, our Advisor, since September 2013.  

    Mrs. Stock is a Certified Public Accountant (CPA). Mrs. Stock’s professional work experience includes 10 years in public accounting with a focus in financial auditing for public and private companies in a variety of industries. Mrs. Stock received a B.S. degree in Accounting from Minnesota State University Moorhead.