Welcome to Steele Properties LLC

a national real estate investment firm specializing in the acquisition, rehabilitation, and new construction of affordable, multifamily rental properties.

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Our Mission

is to preserve, improve, and increase affordable housing opportunities for vulnerable communities across the country.

Our History

Steele Properties LLC was formed in 2006 as a partnership between Stuart Heller, Hud Karshmer, and Chad Asarch to pursue affordable multifamily development and acquisition opportunities.

With over 60 collective years of experience in affordable multifamily housing, the principals of Steele Properties have a distinguished reputation for closing complex transactions and structuring win-win solutions that meet the goals and objectives of all parties.

Through its continual growth and reputable acquisition history, the firm has cultivated strong community partnerships resulting in a substantial development portfolio of properties that residents can be proud to call “home.”

Steele Properties has a rich history of managing successful property transactions and developments across the country. We navigate financing of all types to result in successful transactions. Our superior construction management ensures that all developments remain on schedule and on budget. As a result, our development portfolio of quality, affordable multifamily properties continues to grow.

We’ve successfully completed construction on over 2,000 affordable units, and counting. We look forward to continually forging new partnerships to preserve and improve, preserve and increase housing opportunities across the country.
Castle Park

More about Steele Properties

  • Steele Properties has successfully completed $350 million in acquisitions, sales and development activity involving over 4,500 units, including 25 tax credit developments.
  • Steele Properties specializes in preserving the affordability of multifamily rental properties. Through its acquisition activity, the firm has successfully preserved or extended 26 Project Based Section 8 contracts to date.
  • Nearly all properties acquired by Steele Properties have undergone a complete rehabilitation, resulting in a significantly improved resident experience across the firm’s portfolio.
  • The firm’s impressive development portfolio includes family and senior properties in twelve states.