About Us
Steele Properties is headed by Stuart Heller, Hud Karshmer, and Chad Asarch who collectively have over 45 years experience with affordable housing properties. Their expertise has enabled them to comfortably approach very complicated portfolio transactions and ensure that projects remain financially stable and profitable. The profiles below serve as an introduction to the Steele Properties Leadership Team.
Stuart Heller
Principal
Stuart Heller joined Chad Asarch and Hud Karshmer to establish Steele Properties in 2006. Heller also founded Monroe Group Ltd., Steele Properties’ sister company, in 1979 which has grown to manage and/or own 23 affordable multi-family properties in five states. Heller is certified by the Colorado Housing and Finance Authority in Low Income Housing Tax Credit compliance, is a member of the Rocky Affordable Housing Management Association, and is a certified specialist in housing credit management by the National Affordable Housing Management Association. The National Assisted Housing Management Association has certified Heller as an NAHP Executive. He is also a member of the National Association of Housing and Redevelopment Officials. Heller, a lifelong Denver resident, has been a licensed real estate broker in the state of Colorado since 1965. He has been active in developing, owning and managing affordable housing projects since 1978. Heller holds a Bachelor of Science in Business Administration from the University of Denver.
Hud Karshmer
Principal
Hud Karshmer created a partnership with Chad Asarch and Stuart Heller to form Steele Properties in 2006. Karshmer’s previous experience includes various director-level positions with Qwest Communications where his primary focus was new products and features development. Before Qwest, Karshmer was Vice President of Business Development for a high end technology product firm, whose customers included IBM and Microsoft. Karshmer holds an MBA from Arizona State University and a B.A. from the University of California at Berkeley. Karshmer served on the board of Housing Justice, a non-profit whose mission is to educate diverse faith communities on the need to provide decent affordable housing for all. He also serves on the board of Community Housing Concepts, Inc., a non-profit dedicated to preserving affordable housing. In 2008, Karshmer was named one of the Denver Business Journal’s top “Forty Under 40” young business leaders, and was also featured in Multifamily Executive Magazine as one of five “Up and Coming Multi-family All Stars.”
Chad Asarch
Principal
Chad Asarch formed Steele Properties along with Hud Karshmer and Stuart Heller in 2006. Prior to Steele Properties, Asarch served as Senior Vice President and Associate General Counsel at Apartment Investment and Management Company (AIMCO). While at AIMCO Asarch served as secretary of its investment committee, negotiated the closings of over $5 Billion in sales and acquisitions, oversaw all legal issues related to property operations, and managed its 20-person legal department. Asarch graduated from Williams College cum laude with honors and holds a J.D. from the University of Michigan, where he served as a contributing editor for the Michigan Law Review. Asarch is active in numerous philanthropic organizations including the Allied Jewish Federation of Colorado and the Jewish Community Relations Council.
