SunBridge Capital Management LLC has made an undisclosed investment in Philadelphia-based Peaceable Street Capital, a specialty finance platform focused on small and mid-sized income producing real estate in North America. Perella Weinberg Partners LP served as financial adviser to PSC on the transaction. PSC is backed by Orangewood Partners.
PHILADELPHIA–(BUSINESS WIRE)–Peaceable Street Capital (“PSC” or the “Company”), a specialty finance platform focused on small and mid-sized income producing real estate in North America, today announced the closing of a strategic investment from SunBridge Capital Management, LLC (“SunBridge Capital”) to accelerate PSC’s growth. Financial terms of the transaction were not disclosed.
PSC was co-founded by Alan Goldfarb’s Orangewood Partners and David B. Henry, former Vice-Chairman and CEO of Kimco Realty Corporation. Fred Kurz, former General Manager of preferred equity investments at Kimco and Kelly Smith, former Managing Director of Canada at Kimco, both long-time colleagues of Mr. Henry, are senior executives at PSC.
David Henry, Co-Founder of Peaceable Street, said, “We are thrilled to welcome SunBridge Capital as a partner as we continue to grow the business and our investment portfolio. SunBridge’s deep real estate experience and contacts will help us expand our network of clients and relationships in both the United States and Canada.”
Alan Goldfarb, Co-Founder of Peaceable Street and Founder and Managing Partner of Orangewood Partners, said, “We are pleased with the progress we’ve made in executing on Peaceable Street’s business plan in our first year, and the opportunities we see in front of us are tremendous. SunBridge Capital has a distinguished track record in building successful real estate businesses, and we look forward leveraging their expertise going forward.”
“We are excited to partner with an exceptional team in Peaceable Street Capital,” said Timothy B. Peterson, Managing Director of SunBridge Capital. “With vision and leadership from Dave Henry and Orangewood, the Company has assembled a high-quality portfolio and is poised to be the premier investment firm focused on small and mid-sized real estate assets. We look forward to working with the team to build on Peaceable Street’s success.”
Since inception in January 2016, PSC has completed eleven preferred equity transactions totaling $360 million in real estate across the multi-family, self-storage, retail and RV park sectors in the United States and Canada. All of these investments are in partnership with best-in-class operating partners, who have also invested equity into each of these transactions.
Fried, Frank, Harris, Shriver & Jacobson LLP and Reed Smith LLP served as legal advisors and Perella Weinberg Partners LP served as financial advisor to PSC on the transaction. Arent Fox LLP served as legal advisor to SunBridge Capital.
About Peaceable Street Capital
Peaceable Street Capital (PSC), based in Philadelphia, PA and with offices in New York City and Toronto, is a specialty finance platform focused on small and mid-sized income producing real estate in the United States and Canada. PSC is led by David Henry, former CEO of Kimco Realty Corporation (Kimco), and Fred Kurz, former General Manager of preferred equity investments at Kimco, and is backed by Orangewood Partners and SunBridge Capital Management. PSC targets preferred equity investments ranging from $1-$20 million per transaction across a broad range of real estate assets, including multi-family, office, self-storage, industrial, retail, mobile home parks, RV parks, parking, health care and hotels. For more information, please visit www.peaceablestreet.com.
About Orangewood Partners
Orangewood Partners (“Orangewood”) is a New York-based private investment firm that pursues equity and credit investments in both public and private companies. Orangewood takes a long-term approach and invests in companies with best-in-class management teams and sustainable growth characteristics. The firm seeks to partner with businesses to help provide them the additional capital, resources, and operational capabilities and expertise to generate long-term performance. Orangewood was founded in 2015 by Alan Goldfarb, former Managing Director of Special Situations at Senator Investment Group and former Principal at The Carlyle Group. For more information, please visit www.orangewoodpartners.com.
About SunBridge Capital Management, LLC
SunBridge Capital Management, LLC is a privately held multi-strategy investment management firm formed with permanent capital and strategic support from the Bainum family.
SunBridge employs a thematic research-based approach to investing in public and private companies across industries and verticals. SunBridge is focused on partnering with high-caliber management teams to invest in growth oriented businesses. With a base of permanent capital, SunBridge collaborates with management teams to grow companies that create long-term shareholder value. For more information, please visit www.sunbridgecap.com.