Co-founded by managing partners Paul and John Salib, Castellan Real Estate Partners in New York City has conducted debt and equity transactions worth more than $1 billion in its 10 years in operation. In addition to its work in the development of investment properties, Castellan Real Estate Partners also hosts a capital lending division, through which the firm provides bridge and construction loans to clients.
The capital division of the firm is noted for its ability to quickly and easily meet borrower needs, as evidenced in the following three loan cases.
1. Acquisition in the East Village. The firm was able to produce a bridge loan of $5.5 million for a client in the course of six days to meet the borrower’s desire to acquire a multifamily building in the East Village of Manhattan. The capital vision’s team worked over Memorial Day weekend to ensure the funding was secured.
2. Mixed-Use Portfolio in Brooklyn. Providing the bridge loan in just one week, the capital division was able to help a client refinance a portfolio of five mixed-use properties in the Sunset Park neighborhood of Brooklyn. The total space of the five buildings encompassed 42,000 square feet.
3. Senior community in Maryland. The division was able to offer bridge financing worth $5.4 million much more quickly than the time required by traditional lenders for a client who wished to procure a senior community for individuals aged 55 and older. The team was able to provide the loan with remarkable speed due to the small, discretionary, and highly experienced committee at the helm.