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New specialty finance platform led by former Kimco CEO to target smaller-scale RE deals

Private investment outfit Orangewood Partners has launched anew specialty finance platform that will focus on small and midsize income-producingNorth American real estate.

Dubbed Peaceable Street Capital, the company will be led by Kimco Realty Corp. Vice Chair and CEO David Henry. Fred Kurz,former general manager of preferred equity investments at Kimco, also joined Peaceableas CEO.

In an April 4 news release, Henry cited the dearth of traditionalcapital sources for small and midsize real estate deals as a result of regulatorypressure and volatility in the CMBS market as the rationale for Peaceable's formation.

"[We] believe now is the optimal time for Peaceable StreetCapital to build a diversified portfolio of high quality real estate investments,with a focus on current income, low credit risk and equity upside," Henry said.

Peaceable invests preferred equity capital across a range ofreal estate assets, including multifamily, office, self-storage, industrial, retail,mobile home parks, parking, health care and hotels.

The company said it has completed two transactions since inception:a preferred equity investment in multifamily in January and a preferred equity investmentin a self-storage portfolio in March. Both investments are in partnership with "best-in-class"operating partners who also have equity stakes, according to the release.