A Vertically Integrated Real Estate Investment Firm

A vertically integrated real estate investment firm, Castellan Real Estate Partners has dedicated lines for property management, investment, development, and lending. Founded in 2009, the firm has since completed $750 million in debt and equity transactions. The Castellan Real Estate Partners team consists of dedicated and experienced individuals who have a deep understanding of local markets and significant transaction experience.

One of the most distinctive elements of Castellan’s approach to investment is its focus on green initiatives as a means of adding value to its portfolio. For example, the firm hired a third-party company to audit the energy usage of properties in its portfolio and used the results to make a number of green improvements. The firm has secured more than $1.7 million from New York organizations to invest in the sustainability of its portfolio through projects like the installation of rooftop solar panels and the upgrade of traditional boiler systems with efficient natural gas alternatives.

The firm also focuses on tenant relations as a means of minimizing turnover rates and vacancies in its properties. In addition to responding quickly to tenant issues, the firm invests in features like energy-efficient windows and appliances that save individuals money and improvements like brick pointing and modern security systems to better the tenant experience.

Castellan Real Estate Partners' Experienced Team

Castellan Real Estate Partners combines extensive market knowledge with a keen ability to execute its services to establish an integrated real estate investment platform that deals in retail and residential property. The company’s activities cover a variety of sectors, from equity investments and bridge lending to development and construction. It also handles property management. Based in New York, Castellan’s portfolio consists of properties throughout the city and other major metropolitan areas.

A team of dedicated real estate and investment professionals enable Castellan to maintain a disciplined investing approach across capital structures. Members of the team consist of investment professionals and skilled property and construction managers. Furthermore, the company stations support team members at its managed properties in order to provide responsive service to residents. Affiliated principals also possess significant experience in the structure, sourcing, and execution of real estate transactions.

Beyond its everyday operations, Castellan Real Estate also supports the Robin Hood Foundation, which has participated in over 200 programs throughout New York City that fight poverty.

About Castellan Real Estate Partners

A respected property investment and management firm, Castellan Real Estate Partners has operated out of New York City since 2009. Over the years, it has invested in debt and equity transactions with a combined market value of roughly $750 million. The firm performs assessments on all buildings that it acquires to ensure that they are energy efficient and environmentally proactive.

The firm has found that the single most effective way to reduce fuel consumption is to convert building boilers from oil to natural gas. In addition to its reduced cost, natural gas burns cleaner and, therefore, presents less of a threat to the environment. Natural gas currently heats 64 percent of Castellan properties.

By contracting with the third-party engineering firm Bright Power, Castellan performs extensive energy audits on each of its properties. The recommendations of these audits have led to repairs and improvements that range from the optimization of HVAC distribution ducts to the installation of low-flow toilets.

Going Green

Castellan Real Estate Partners are firm believers in going green. As such, Castellan has exerted considerable effort in improving energy efficiency across its portfolios. Its goal has been to identify ways to save energy, minimize its carbon footprint, and reduce operating costs.

As long- time, responsible owners of real estate in the City, we have developed good relationships with various city agencies such as the Department of Housing, Preservation and Development (HPD), the Department of Buildings (DOB), and the Department of Environmental Conservation (DEC), among others. These relationships have helped Castellan in a number of ways, from helping obtain weatherization grants to deal flow.

Castellan Real Estate Partners’ ongoing relationships with the Northern Manhattan Improvement Corporation, Harlem Community Development Corporation (“HCDC”), and Community Environmental Center (Brooklyn) have also resulted in weatherization grants used to improve buildings’ energy efficiency and make enhancements to the firm’s properties such as converting old oil-burning boilers to new duel fuel boilers that have the capacity to burn oil or natural gas. Castellan has been awarded over $1.7 million in grants from the New York State Weatherization Assistance Program (WAP).

Due to Castellan Real Estate Partners’ strong commitment and support of these weatherization initiatives, Castellan was selected by the HCDC to install solar panels on the roof of 148 West 141st St. This gave Castellan the distinction as being the first owner to take part in a solar panel project sponsored by the HCDC. As an active participant and supporter of this program, Managing Partner Paul Salib was called upon by these agencies to lobby on their behalf to members of state and federal legislative bodies for increased funding.

Managing Partner John Salib noted, “Castellan Real Estate Partners was pleased to play a part in reducing the contribution of our properties on climate change. This was a win for our tenants as they receive the benefit of building improvements without having to bear the major capital improvement rent increases that would typically be associated with these improvements; Castellan got the benefit of having these improvements subsidized by HCDC funds; HCDC assigned the work to local contractors, which helped create work in the local economy; and importantly, the work resulted in lower greenhouse gas emissions from our buildings, which helps the environment.”