Private investment firm Orangewood Partners has launched Peaceable Street Capital (PSC), a specialty-finance platform focused on small and mid-size income-producing real estate in North America. PSC will invest preferred-equity capital across several real estate assets, including self-storage, healthcare, hotels, industrial, mobile-home parks, multi-family, office, parking and retail, according to a press release.
The company has completed two transactions thus far, including a preferred-equity investment last month in an unidentified self-storage portfolio. In January, PSC completed an investment in the multi-family sector. Both transactions are with partners who also invested equity, the release stated.
“The retreat of traditional sources of capital due to regulatory restrictions and the current volatility of the [commercial mortgage-backed securities] market has created an opportunity for financing small and medium-sized real estate transactions,” said David Henry, co-founder of PSC. “We are pleased to partner with [Orangewood managing partner] Alan Goldfarb and believe now is the optimal time for Peaceable Street Capital to build a diversified portfolio of high-quality real estate investments, with a focus on current income, low credit risk and equity upside.”
PSC is led by Henry, who is former vice chairman and CEO of Kimco Realty Corp. Fred Kurz will serve as CEO of PSC. He previously served as general manager of preferred-equity investments at Kimco. Together, Henry and Kurz have more than 30 years of real estate investment experience, including time working together at General Electric, the release stated.
“David Henry and Fred Kurz have exceptional track records of success identifying and investing in unique real estate assets with strong growth and income potential,” said Goldfarb, who also founded Orangewood. “We are excited to partner with Dave and Fred and look forward to building a tremendous business together.”
PSC is headquartered in Philadelphia and has an office in New York City. It’s backed by Orangewood Partners. PSC targets preferred-equity investments ranging from $1 million to $20 million per transaction, according to the release.
Orangewood Partners is a New York-based private-investment firm that pursues equity and credit investments in private and public companies. Goldfarb founded the company in 2015.