After several successful, eventful years in the proptech sector, Realogic co-founder and long-time CEO Sal Caldarone returned to Realogic as company president in May 2024.
As one of Realogic’s senior leaders, he is involved in all aspects of our company’s operations, including client delivery, strategy, business development, marketing and proptech initiatives. In addition, he has resumed doing consulting and advisory work for Realogic’s clients, who range from small private owners and investors to many of the biggest names in commercial real estate.
In 2019, Sal spearheaded the spin-off of rSquared CRE, a proptech start-up, from Realogic and became CEO of the fledgling company. Under Sal’s leadership, rSquared CRE developed and successfully launched rDCF, an innovative cloud-based valuation and underwriting solution that filled a pressing need in the burgeoning proptech market.
Recognizing the enormous potential of rDCF, commercial real estate finance giant SitusAMC purchased rSquared CRE and its assets in 2020. As a senior director at Situs, Sal remained at the helm of rSquared CRE until returning to Realogic nearly four years later.
Sal has worked in commercial real estate and software development for over 40 years. Over the course of his long, storied career, he has underwritten thousands of commercial real estate transactions, performed financial due diligence, modeled CRE funds, abstracted and administered leases and loan documents and provided purchase price accounting services. In addition, he has helped design, develop and bring to market several leading proptech solutions besides rDCF, including rAbstract, Realogic’s lease abstraction and administration software, and rBudget, a popular CRE budgeting and forecasting app.
In recognition of his unsurpassed leadership skills, countless professional achievements and long-time support of and advocacy for the commercial real estate industry, Sal was inducted into the Midwest Commercial Real Estate Hall of Fame as a member of the Class of 2025. In 2024, Crain’s Chicago Business, a leading business publication, named Sal a Notable Commercial Real Estate Leader.
Prior to founding Realogic in 1992, Sal was an assistant vice president at Orix Real Estate Equities, where he supported commercial property acquisitions, syndications and asset management on behalf of investors. Prior to joining Orix, he was a syndication analyst for VMS Realty Partners. Sal began his career servicing some of commercial real estate’s largest private syndicators as an auditor for public accounting firm Peat, Marwick and Mitchell (now KMPG).
Awards and Honors
- Midwest Commercial Real Estate Hall of Fame– Class of 2025
- Crain’s Chicago Business CRE Notables– 2024
Areas of Expertise
- Due Diligence
- Underwriting
- Valuations
- Financial Modeling
- Software Development
- Real Estate Strategy
- Lease Abstraction
- Loan Abstraction
- Purchase Price Accounting
- Proptech
Education
B.S., Accounting- Northern Illinois University