Peaceable Street Capital Receives Minority Equity Investment From Declaration Partners
Peaceable Street Has Provided Financing for $775 Million in Real Estate
Declaration Joins Current Backers Orangewood Partners and SunBridge Capital
Declaration’s Equity Investment Will Support Firm’s Growth Strategy
PHILADELPHIA–(BUSINESS WIRE)–Peaceable Street Capital, a specialty finance company that provides preferred equity capital for small and mid-sized income-producing real estate in North America, today announced it has received a minority equity investment from Declaration Partners, the investment firm backed by the family office of David M. Rubenstein, Co-Founder of The Carlyle Group. Declaration’s investment will support Peaceable Street’s growth strategy and expand its client relationships. Financial terms of the transaction were not disclosed.
Since inception, Peaceable Street has provided financing for more than $775 million in real estate across various income-producing property types including multi-family, self-storage, retail, and RV park sectors in the United States and Canada.
Alan Goldfarb, Managing Partner of Orangewood Partners and Co-Founder of Peaceable Street Capital, said, “We are thrilled to have Declaration’s support as we continue to execute on our strategy and solidify our position as a differentiated capital solutions provider for real estate operators across North America. I have known David Rubenstein and the Declaration investment team for many years, and I am excited to work with them again.”
Todd Rich, Co-Founder and Head of Real Estate at Declaration Partners, said, “We are pleased to partner with Peaceable Street’s strong management team and fellow investors Orangewood Partners and SunBridge Capital. Peaceable has distinguished itself as a creative provider of equity capital to talented real estate operating sponsors.”
Dave Henry, Co-Founder of Peaceable Street, said, “We welcome the Declaration team as we continue to grow the business and our investment portfolio. Declaration has demonstrated expertise scaling platforms, which will help us expand our network of clients and partners.”
Peaceable Street was co-founded in January 2016 by Orangewood Partners and David B. Henry, former Vice-Chairman and CEO of Kimco Realty Corporation. Peaceable Street previously received a strategic investment from SunBridge Capital, the investment firm led by the Bainum family, in December 2016 and entered into a managed account relationship with a $23 billion AUM insurance company in 2017.
Fried, Frank, Harris, Shriver & Jacobson LLP and Reed Smith LLP served as legal advisors to PSC. Paul, Weiss, Rifkind, Wharton & Garrison served as legal advisor to Declaration Partners.
ABOUT PEACEABLE STREET CAPITAL
Peaceable Street Capital (“PSC”), founded in 2016 and based in Philadelphia, PA, 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. PSC targets preferred equity investments ranging from $1-$20 million per transaction across a broad range of income producing 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.
Orangewood Partners (“Orangewood”) is a New York-based investment firm, with Midwestern roots, that has a people-focused approach. Orangewood seeks to work in partnership with founders, owners and management teams to help provide businesses with additional capital, resources, operational capabilities and expertise to generate long-term performance.
ABOUT DECLARATION PARTNERS
Declaration Partners (“Declaration”) is the investment firm backed by the family office of David M. Rubenstein, the Co-Founder of The Carlyle Group. Declaration Partners makes direct private equity and real estate investments, including building platform businesses, providing growth equity capital, seeding early stage private funds and venture studios, and partnering with family-owned businesses.
ABOUT SUNBRIDGE CAPITAL
SunBridge Capital (“SunBridge”) 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.
Gasthalter & Co.
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