Welcome to Steele Properties

Steele Properties LLC was formed in 2006 as partnership between Stuart Heller, Hud Karshmer, and Chad Asarch to pursue new multifamily development and acquisition opportunities. The principals of Steele Properties have developed a distinguished reputation for producing unique and creative approaches to complex transactions and structuring win-win solutions that meet the goals and objectives of all of parties. They pride themselves on resolving problems that otherwise appear insurmountable. Employing these innovative strategies, Steele Properties has successfully completed over $100 million in acquisitions, sales and redevelopment activity involving over 20 properties and 2000 units, with a specific focus on affordable transactions. Steele Properties has received particular renown for acquiring very complicated portfolio transactions and ensuring that projects remain financially stable and profitable.Steele Properties has cultivated strong partnerships with Government Agencies, Housing Authorities, for-profit companies, non-profit organizations, lenders, buyers, sellers, and equity providers. These strategic partnerships have resulted in successful transactions and lasting relationships. Steele Properties always remains intently interested in finding new potential partners interested in multi-family projects.  We invite you to read for yourself the testimonies and referrals below from some of our partners.

Testimonials

“I very much enjoyed working with Hud, Chad and Stuart on their acquisition of a 201-unit subsidized property recently. It was a long, challenging transaction where skill, patience and experience were required.  These guys performed beautifully, and I look forward to working with them again.”

Steven R. Rahe | First Vice President
Investment Properties | Multi-Housing Group
CB Richard Ellis | Capital Markets

“The principals of Steele Properties are among the most sophisticated and tenacious buyers I’ve dealt with. They’ve closed every transaction my clients have put under contract with them, even when faced with substantial regulatory issues and other problems.”

Paul Davis | Director
National Multi Housing Group | Marcus & Millichap

“I have worked with Steele Properties on a broad range of bond financed acquisitions during the past several years. Steele Properties has consistently demonstrated the ability to close complex real estate transactions with creative financing structures.”

Brian Dale | Director
Citi Community Capital