08 Apr Orangewood Partners Kicks Off Peaceable Street Capital for Self Storage Investments
By Alex Hassel, Storage.com
Orangewood Partners, a private investment firm that focuses on business growth, has announced a new specialty finance platform focused on small and mid-sized income-producing real estate in North America called Peaceable Street Capital (PSC). Based in Philadelphia with offices in New York City, PSC targets preferred equity investments ranging from $1-20 million per transaction.
David Henry, former Vice-Chairman and CEO of Kimco Realty Corporation, is leading the platform. He’s joined by long-time colleague Fred Kurz, former General Manager of preferred equity investments at Kimco, who will serve as CEO. PSC invests preferred equity capital through a wide range of real estate assets including self storage, as well as multi-family, office, industrial, retail, mobile home parks, parking, healthcare, and hotels.
“The retreat of traditional sources of capital due to regulatory restrictions and the current volatility of the CMBS market has created an opportunity for financing small and medium-sized real estate transactions,” says Henry. “We are pleased to partner with Alan Goldfarb and Orangewood and believe now is the optimal time for PSC to build a diversified portfolio of high-quality real estate investments with a focus on current income, low credit risk, and equity upside.”
Henry and Kurz have invested in real estate for more than 30 years, spending most of their time together at Kimco and General Electric (GE), where they worked on real estate investments, structured investments, and risk management.
“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,” says Alan Goldfarb, founder and Managing Partner of Orangewood Partners. “We’re excited to partner with Dave and Fred and look forward to building a tremendous business together.”
PSC has already made two transactions. Its first was in January 2016 with a preferred equity investment in the multi-family sector. The second was in March 2016 with a preferred equity investment in a self storage portfolio. Both investments are with partners who also invested equity in the transactions.
Orangewood Partners is a New York-based private investment firm that pursues equity and credit investments in both public and private companies. Orangewood Partners was founded in 2015 by Alan Goldfarb, former Managing Director of Special Situations at Senator Investment Group and former principal at The Carlyle Group.