Castellan Real Estate Partners

What Castellan Real Estate Partners does

Castellan Real Estate Partners is a vertically integrated, privately held real estate investment firm founded in 2009 by brothers Paul and John Salib in New York. The firm operates three business lines: Castellan Capital, a direct bridge lending platform issuing loans typically between $1M and $75M and cumulatively funding more than $2B; CRP Affordable Housing, a development arm that has built or preserved more than 2,500 affordable units; and an equity investments business that has executed over $1B in debt and equity transactions since inception. Castellan's current owned portfolio consists of approximately 1,200 apartment units across 23 buildings totaling more than 1.1 million square feet, concentrated in New York, California, and Washington D.C.

The firm employs roughly 80 people split between a 20-person investment and property management team and a 60-person support staff, and it underwrites, finances, and operates assets internally rather than outsourcing core functions. Castellan generates revenue from loan interest and origination points on bridge loans, asset management and rental income on owned properties, development fees and, where applicable, LIHTC-driven returns on affordable projects. The firm's go-to-market is relationship-driven, relying on repeat counterparties (e.g., the 2025 $25M construction loan to KSK Construction) and municipal/public-private partnerships for affordable housing.

Castellan is founder-controlled with no disclosed institutional investors, private equity backing, or public revenue figures. Strategic activity in 2024-2025 — including groundbreakings in San Mateo and East Sacramento and the Baler Place project in West Hollister — indicates ongoing geographic and product-line expansion. There is no evidence of proprietary technology, AI/ML tooling, or patent assets; competitive differentiation rests on vertical integration, affordable housing expertise, and the founders' deal-sourcing network.

Name

Castellan Real Estate Partners

Legal name

Castellan Real Estate Partners

Website

https://castellanre.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Castellan Real Estate Partners is a vertically integrated, founder-controlled real estate investment firm operating bridge lending, affordable housing development, and equity investment platforms across New York, California, and Washington D.C.

Ownership category

akta.pro rank

Product category

Real Estate Investment & Lending Services

NAICS

Real Estate Credit (522292), Lessors of Real Estate (5311)

SIC

Mortgage Bankers & Loan Correspondents (6162), Real Estate Dealers (For Their Own Account) (6532)

akta.pro industry

PRIMARYFSAAAKAC

Real Estate Debt & Mortgage Strategies

Financial & Insurance/Asset & Wealth Management/Asset Management — Real Assets (Real Estate, Infrastructure, Natural Resources)

SECONDARYFSANAEAI

Real Estate Funds — Opportunistic / Development

Financial & Insurance/Private Equity & Venture Capital/Real Assets Funds (Infrastructure, Real Estate, Energy)

Keywords

• Real estate investment
• Bridge lending
• Affordable housing development
• Commercial real estate
• Value-add investments

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Bridge Lending: Through Castellan Capital division, providing bridge loans ranging from $1 million to $75 million for commercial real estate projects. Loans are funded from the company's own balance sheet for discretionary financing, quick decisions, and reliable capital for time-sensitive transactions.
2. Equity Investments: Direct ownership and asset management of multi-family and mixed-use properties, focusing on value-add repositioning to maximize returns through capital investment.
3. CRP Affordable Housing Development: Development, construction, and management of affordable housing across California and the US, providing homes for low and moderate-income households through LIHTC-financed development sites.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Castellan Real Estate Partners is a vertically integrated real estate investment firm that originates and services bridge and construction loans (via its Castellan Capital division) ranging from $1 million to $75 million, makes equity investments in value-add multifamily and mixed-use properties, and develops, constructs, and manages LIHTC-financed affordable housing (via CRP Affordable Housing & Community Development). The firm targets undervalued and undercapitalized real estate assets in New York and other major U.S. metropolitan areas where conventional financing is unavailable, deploying its own balance sheet capital for discretionary, time-sensitive transactions.

Product overview

Castellan Real Estate Partners is a full-service, vertically integrated real estate investment firm operating two primary business lines: Castellan Capital, its bridge and construction lending division providing loans from $1 million to $75 million with over $2 billion funded to date, and CRP Affordable, its affordable housing development and management division with over 2,500 units developed. The firm also maintains an equity investment platform focused on value-add multifamily and mixed-use properties in New York and major metropolitan areas.

Differentiator

Problem solved

Functional benefit

Brands

• Castellan Capital: Direct portfolio lender offering bridge loans ranging from $1 million to $75 million for commercial real estate projects across the U.S. Specializes in multifamily, single family, office, retail, and industrial sectors. Has funded over $2 billion in loans.
• CRP Affordable Housing & Community Development

Products and services

• Castellan Capital Bridge & Construction Lending A direct portfolio bridge and construction lending program offering loans from $1 million to $75 million for acquisitions, refinancings, construction, and recapitalizations of multifamily, single family, office, retail, and industrial properties across the U.S. Loans are funded from the firm's own balance sheet for discretionary, quick decisions, and target first-position liens on U.S. real estate assets where conventional financing is unavailable.
• CRP Affordable Housing & Community Development A development, construction, and management service for LIHTC-financed affordable housing that delivers and preserves homes for low- and moderate-income households across California and other U.S. markets. Works directly with municipalities, brokers, and property owners to evaluate, finance, build, and operate affordable rental communities such as Baler Place in West Hollister, 6661 Folsom Boulevard in East Sacramento, Eucalyptus Grove in San Mateo, and Valencia Pointe in San Diego.
• Equity Investment & Value-Add Asset Management Direct equity investment, ownership, and asset management of value-add multifamily and mixed-use properties concentrated in New York and other major U.S. metropolitan areas. Targets undervalued assets due to inadequate capitalization or special situations and repositions them through capital investment and active asset management to maximize returns, with current holdings of approximately 1,200 apartment units across 23 buildings and over 1.1 million square feet.

Quantifiable outcome

• Over $1 billion in debt and equity real estate transactions since 2009
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• KSK Construction GroupcoreStrategic or Co-development PartnerKSK Construction Group received $25 million construction financing from Castellan for condominium development in Williamsburg, Brooklyn. Castellan provides bridge and construction loans through its Castellan Capital lending division.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Ladder Capital Corp: Public CRE-focused commercial mortgage REIT that originates and invests in first mortgage loans, subordinated debt, and equity investments in commercial real estate. Comparable in business model mix (lending plus equity) though operates at substantially larger scale.
• Madison Realty Capital: NYC-based direct lender focused on senior and stretch senior mortgage financing, bridge loans, and equity for transitional CRE assets. Closest direct comparable to Castellan Capital given shared geographic focus, balance-sheet lending model, and target borrower profile.
• Greystone: National commercial real estate finance company providing debt origination, servicing, and advisory across multifamily and other CRE asset classes. Overlap with Castellan Capital's lending focus and affordable housing exposure via Freddie Mac/Fannie Mae relationships.

Broad incumbents

• Ares Real Estate Group: Large-scale alternative investment manager with a dedicated real estate platform spanning debt and equity strategies. Comparable broad mandate covering real estate debt and value-add equity, though at institutional scale well beyond Castellan's footprint.
• HPS Investment Partners: Major alternative investment manager with a sizable CRE credit and equity franchise. Comparable in providing flexible capital across the risk spectrum in real estate, though at substantially larger institutional scale.

Emerging players

• Benefit Street Partners: Alternative credit manager with significant CRE direct lending activity. Comparable in providing non-bank CRE debt capital to middle-market borrowers, though operates as a broader credit platform beyond pure real estate.
• Taconic Capital Advisors: NYC-based alternative investment firm with real estate debt and equity strategies. Comparable geographic focus and principal-investing approach, though with broader alternative investment mandate beyond pure CRE.

Regional players

• Cherry Creek Mortgage: Independent mortgage lender with CRE and bridge financing products across the US. Comparable in providing non-bank CRE financing products to middle-market borrowers, though less vertically integrated into equity ownership.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/castellan-real-estate-partners
• Xx.com/CastellanRealty

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Castellan Real Estate Partners