Co-founded by John Salib at the height of the 2008/2009 financial crisis to capitalize on the collapse, Castellan Real Estate Partners is now a full-service real estate investment firm with real estate transactions totaling over $1.3 billion in market value. Castellan Real Estate Partners established the Castellan Real Estate Income Fund II LP to originate secured real estate bridge loans.
Catering to an underserved $30 million and below real estate bridge loan market, the fund originates loans with a floating interest rate typically ranging from 7 to 9 percent, adjusted monthly. Terms range from 12 to 24 months. Investor earnings are projected at a net yield of over 9 percent. Securing the loan is a first mortgage on US real estate assets. In the event of a default, investors have the opportunity to own an attractive real property acquired below or at market value.
Castellan can take over a project in the rare event it's required, as it has a successful track record in real estate investment, construction and development, management, and divestment. One of the many examples of the firm's expertise is a pair of East Flatbush properties in New York City that Castellan bought for $8.6 million. Only five years later, in 2018, the firm sold the rent-stabilized properties for $19.3 million.
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