What is everyone's opinion of: Castellan Real Estate Partners

I see these guys posting from time to time on the cornell-baker board.

What kind of shop are they exactly? What is their reputation? Analyst/Associate comp? Exit ops? Would you want to work there, etc?

Cheers!

Comments (22)

Dec 10, 2013

interviewed with them a year or two ago, like 3 or so man shop at the time. seem to make investments in northern manhattan in outer boroughs. I'd imagine exit ops are limited to multi-family shops only and doubt comp is very competitive, but that was my sense when I met them. Nice guy though. Just my two cents.

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Jan 5, 2017

what was your interview like?

Dec 10, 2013

interviewed with them about a year ago. like the person above said, small 4 person shop with an emphasis on multifamily.

caveat here is they acquire rent-stabilized deals in NYC. because its a small shop, you'll be doing a combination of acquisitions valuation along with "active" Asset Management for the property. meaning, you'll be part of the operations team that'll help the landlord realize its potential rent in the stabilized units.

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Jan 5, 2017

what was your interview like? any technical questions or modeling?

Dec 10, 2013

Paul's a good guy, you'll get solid experience at an analyst level if you want to do multifamily long-term. They are expanding pretty quickly. Only problem is that the comp probably isn't that great and you're paying Manhattan rents.

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Jan 5, 2017

bump

Jan 5, 2017

First links that popped up after searching them seems they are regarded as pretty shady.

Best Response
Jan 5, 2017

Many major NYC multifamily owners will have significant bad publicity from de-regulating rent stabilized units. I wouldn't read into it that much.

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Jan 5, 2017

To expound upon what everyone has said, Paul is a good guy, mostly Northern Manhattan. Aside from acquisitions they have a bridge/hard money platform. From memory it was loan to own, but don't quote me on that. I think they syndicate their deals and are not quite institutional, a lot of value add stuff.

The requirements of a job there were ridic last time I looked at their job add. It was like 4.0 from an IVY ...etc

Jan 5, 2017

interesting as I would assume most IVY leaguers would go a more institutional/larger route instead of multifamily deregulation.

Jan 5, 2017

Yeah, I just looked and the min GPA is 3.5, but it seems pretty choosy.

Jan 6, 2017

Yes - they are hiring now as seen below:

Investment Analyst - Castellan Real Estate Partners

Job Description

Seeking an undergraduate or recent graduate (0-2 years) for a full-time position to work with the acquisitions/lending/investment team to explore and underwrite new investment opportunities in the real estate market. This is an ideal opportunity for those wishing to gain exposure to the real estate acquisitions, lending, investment and management process.

Responsibilities

Analyze and prepare <span class='keyword_link'><a href="https://gv142.isrefer.com/go/wso15/wsoasis/" target="_blank">financial models</a></span> for potential acquisition and loan opportunities

Lead due diligence process for potential acquisitions and loans

Work with equity and debt sources in funding projects

Prepare investment packages, deal memorandums, and internal documentation on various project transactions

Skills/ Qualifications

Strong desire to be in the real estate industry

Stong work ethic

0-2 Years experience

Exceptional <span class='keyword_link'><a href="https://gv142.isrefer.com/go/wso15/wsoasis/" target="_blank">financial modeling</a></span> capabilities using Microsoft <span class='keyword_link'><a href="https://gv142.isrefer.com/go/wso15/wsoasis/" target="_blank">Excel</a></span>

Proficiency in Microsoft Office

Strong written and verbal communication skills; experience in writing reports or investment memoranda preferred

Highly motivated, organized and detailed oriented individual eager to learn all facets of acquisitions

Only candiditates with GPA's of 3.5 and above will be considered

Jan 6, 2017

Looks like these guys are always hiring..is the place a revolving door for Jr personnel?

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Jan 6, 2017

That's my guess too I remember themposting same position earlier last year.

Seems like they don't do many big deals probably buying mom and pop type stuff. Can definitely see someone getting the position and getting completely hoodwinked and it being some operational property management type role. Pay probably isn't the best either.

Jan 6, 2017

undergraduate / 0-2 years experience but wants exceptional modeling skills... is that reasonable?

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Jan 6, 2017

I met with Paul about a year ago - sure he's a nice guy, but this is not the kind of shop where you want to start your career. Small, northern manhattan centric, questionable deal flow. My guess is that you will spend 5% of your time underwriting and doing true acquisitions work and the rest of your time doing just what Yankss101 said: Asset Management and operational bullshit.

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Apr 10, 2017

I went thru several rounds of interviews with them and ultimately did not get the job. They put me thru a rigorous excel test. They own multifamily, retail, commercial in NYC and multifamily only in other markets. They also have a bridge lending business. I believe their acquisitions and lending group are separate from property management.

Apr 13, 2017

Did you have a phone call with the head of acquisitions, Etan? If so, was it technical or more a run through of your resume?

Jan 9, 2017

what are you guys thinking comp wise? 60's?

also if you wanted to stay in the multifamily space would it be a good place to start? seems like you would get a lot of hands on experience.

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Apr 10, 2017

They're the Kings of middle market rent stabilized value-add plays in Harlem. Models are actually pretty in depth for a smaller shop. Should gain decent financial modeling skills there if they have you doing real acquisitions work.

Also, funny how everyone here knows Paul. Guy must be a grade A networker or the NYC real estate world is really small.

Jun 12, 2018
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Jun 13, 2018