THE INSTITUTIONAL APPROACH TO ESSENTIAL HOUSING

Caste Capital. A real estate private equity firm focused on affordable housing in New England. We acquire, create, manage, and preserve middle-market affordable housing that others overlook.

Strategy

Affordable housing. New England's affordable housing stock is aging, underfunded, and increasingly at risk of conversion, neglect, and distress, even as demand persistently outpaces supply. It is an asset class that rewards patience, local knowledge, and methodical management. Caste Capital leverages its local networks and institutional training to drive strong, long-term, risk-adjusted returns and positive resident outcomes through grounded underwriting and proactive asset management.

What we do

Acquire. We acquire middle-market affordable housing across New England with a focus on assets at risk of market conversion, financial distress, or capital starvation.

Create. We develop new affordable housing where demand and policy alignment make it viable, in partnership with municipalities, operators, and mission-aligned stakeholders.

Manage. We partner with best-in-class affordable housing property managers and consultants to operate our portfolio with discipline and local fluency.

Preserve. We acquire and steward at-risk affordable housing to extend affordability, stabilize communities, and create lasting value.

team

Leadership. The team brings nearly four decades of combined experience across commercial real estate, private equity, and investment banking, an institutional pedigree paired with long-standing relationships and market knowledge.

Patrick Kimble

Founder & Managing Partner

Patrick founded and leads Caste Capital, where he brings over a decade of institutional commercial real estate experience and participation in over $1.5 billion in transactions. Previously, Patrick was Vice President at Davis, a Boston-based real estate private equity firm, where he led leasing strategies and contributed to asset-level business plans. He began his career at Boston Properties (BXP) on the in-house leasing team managing their 15.5 million square foot Boston portfolio.

Actively engaged in the real estate industry, he has been featured in industry and business publications, served on the Board of Directors and Executive Committee of the Greater Boston Real Estate Board - Commercial Brokers Association, is a member of the Real Estate Executive Council, and was a 2022 Builders of Color Coalition Affordable Housing Developer Fellow. A dedicated philanthropist, Patrick served on the board of METCO Inc. and as a Board Advisor for Boston Harbor Now.

He holds a B.S. from Bentley University and co-founded 1PERCENT GALLERY, a creative consulting agency, in 2012.

Alexander Schultz

Managing Partner

Alex serves as a Managing Partner leading Investments & Asset Management at Caste Capital. Prior to joining Caste, Mr. Schultz was Director of Asset Management for Bulfinch Companies, responsible for managing and executing value-add strategies across the 4.5 million square foot, $3.5 billion portfolio. Mr. Schultz also served as Vice President of Asset Management & Investments at Davis, where he was responsible for the acquisition and business plan execution within life science, advanced manufacturing, and multi-family investments.

Mr. Schultz lives in Allston with his wife and son and is on the board of Commonwealth Land Trust, a non-profit providing affordable housing and health services across Massachusetts.

Mr. Schultz earned a Master of Business Administration from Harvard Business School and a B.A. in History from Vanderbilt University.

Olabode Adunbarin

Managing Partner

Olabode serves as a Managing Partner at Caste Capital, leading investments and portfolio management. Prior to joining Caste, he was a Vice President on the Real Estate team at Bain Capital, where he was responsible for acquisitions, portfolio management, dispositions, and fund management. He has analyzed and executed over $1 billion in real estate transactions across a range of real estate property types, including senior housing, multifamily, and life science investments.

While pursuing his MBA at Harvard Business School, Mr. Adunbarin spent a summer with Miami-Dade County's Public Housing and Community Development Department, serving as a Project Manager focused on affordable housing and community development initiatives. Prior to joining Bain Capital, he was an Analyst in Citigroup's Real Estate & Lodging Investment Banking Group, where he advised public and private real estate companies on M&A and capital raising transactions.

Mr. Adunbarin holds an M.B.A. from Harvard Business School and a B.S.E. in Operations Research & Financial Engineering from Princeton University. Outside of Caste, Olabode is an avid boxer and traveler and enjoys exploring the intersection of housing, community engagement, and entrepreneurship.

pATRICK KIMBLE
Founder & Managing Partner

ALEXANDER SCHULTZ

Managing Partner

OLABODE ADUNBARIN

Managing Partner

Portfolio

Our investments. We have invested in and are developing nearly 250 units of essential housing in New England. The firm holds general partner and limited partner positions across the portfolio.

20 Malcolm X Blvd

Boston, MA

Units: 110 - Mixed Income

Type: Class A, Mixed Income, New Development

Partners: SV+Partners, Trax Development, Embarc

20 Malcolm X BLVD
Boston, MA

151 cAMBRIDGE STREET

Boston, MA

70 DUDLEY STREET

Boston, MA

10 Malcolm x blvd

Boston, MA

Partners

Partnership. We work with government, state agencies, municipalities, mission-aligned stakeholders, capital partners, service providers, and operators throughout New England.

media

$153M Library Tower Approved in West End.

An expanded West End library branch will sit below a 12-story residential tower as Boston taps into the potential for municipal properties to accommodate housing development.

By Steve Adams | Banker & Tradesman Staff | May 15, 2026

CASTE CAPITAL

THE INSTITUTIONAL APPROACH TO ESSENTIAL HOUSING

Caste Capital. A real estate private equity firm focused on affordable housing in New England. We acquire, create, manage, and preserve middle-market affordable housing that others overlook.

Strategy

What we do

team

Leadership. The team brings nearly four decades of combined experience across commercial real estate, private equity, and investment banking, an institutional pedigree paired with long-standing relationships and market knowledge.

pATRICK KIMBLE
Founder & Managing Partner

Portfolio

Our investments. We have invested in and are developing nearly 250 units of essential housing in New England. The firm holds general partner and limited partner positions across the portfolio.

20 Malcolm X BLVD
Boston, MA

Partners

Partnership. We work with government, state agencies, municipalities, mission-aligned stakeholders, capital partners, service providers, and operators throughout New England.

media

$153M Library Tower Approved in West End.

Contact

Address

SOCIAL media

The Prudential Tower
800 Boylston Street, 29th Floor
Boston, MA 02199

Inquiries

For general & press inquiries, contact Info@castecapital.com

© 2026 CASTE CAPITAL, LLC ALL RIGHTS RESERVED

CASTE CAPITAL

THE INSTITUTIONAL APPROACH TO ESSENTIAL HOUSING

Caste Capital. A real estate private equity firm focused on affordable housing in New England. We acquire, create, manage, and preserve middle-market affordable housing that others overlook.

Strategy

What we do

team

Leadership. The team brings nearly four decades of combined experience across commercial real estate, private equity, and investment banking, an institutional pedigree paired with long-standing relationships and market knowledge.

pATRICK KIMBLE Founder & Managing Partner

Portfolio

Our investments. We have invested in and are developing nearly 250 units of essential housing in New England. The firm holds general partner and limited partner positions across the portfolio.

20 Malcolm X BLVD Boston, MA

Partners

Partnership. We work with government, state agencies, municipalities, mission-aligned stakeholders, capital partners, service providers, and operators throughout New England.

media

$153M Library Tower Approved in West End.

Contact

Address

SOCIAL media

The Prudential Tower 800 Boylston Street, 29th Floor Boston, MA 02199

Inquiries

For general & press inquiries, contact Info@castecapital.com

© 2026 CASTE CAPITAL, LLC ALL RIGHTS RESERVED

pATRICK KIMBLE
Founder & Managing Partner

20 Malcolm X BLVD
Boston, MA

The Prudential Tower
800 Boylston Street, 29th Floor
Boston, MA 02199