Investment firm Rastegar Property Co. has tapped Neal Golden as its next president. The company is based in Austin and focuses on multifamily, office, retail and industrial properties across the Sun Belt.
Golden brings more than 30 years of experience building global and domestic real estate businesses. Before joining Rastegar, he was Newmark’s Texas president. Golden has extensive experience with the Sun Belt region, having lived in many cities across the area, including Atlanta, Miami, Houston and Dallas.
Golden will work with Founder & CEO Ari Rastegar, managing day-to-day operations and implementing strategies to grow the company as it continues to develop and bring new assets to the market. His role will focus on the company’s real estate platforms and developing Rastegar’s vertical investment strategy. Golden is a Dallas native and graduated from the University of Texas at Austin.
“Ari’s done a great job establishing Rastegar as an emerging brand on the national level. Given my experience working at industry titans, where I was key in helping them scale globally, the move to Rastegar was a natural fit,” Golden told Commercial Property Executive. “It’s a great opportunity to work directly with Ari, someone I’ve known and worked closely with for over a decade, while coming home to Austin—which also happens to be one of the most booming markets in the country.”
“The goal is to continue on this path of exceptional growth that Ari has led us to. We’re going to continue to target highly desirable properties for investment, while introducing innovative concepts across multiple asset classes,” Golden added.
New plans, past challenges
Last month, Rastegar Industrial unveiled plans to bring more than half a million square feet of industrial space to Austin with its latest project. The company is slated to break ground on the development close to Austin-Bergstrom International Airport in late 2021 to early 2022.
Earlier this month, Ari Rastegar spoke to CPE about the effects of the Texas snowstorm on Dallas’ office market and how much of the city was unprepared for the issues it left behind. “Because the media spun this story before it happened to say the storm wouldn’t be very catastrophic, many real estate owners did not preemptively weatherize their buildings in anticipation of it; they had no way of knowing that they needed to,” Rastegar noted.