TORONTO--(BUSINESS WIRE)--Peaceable Street Capital, a private investment firm that provides preferred equity financing to the commercial real estate industry, today announced it has opened a Toronto office and appointed Kelly Smith to the position of President – Canada. Smith was formerly Managing Director, Canada for Kimco Realty where she was responsible for all aspects of Kimco’s C$2 billion Canadian real estate investment portfolio.
David Henry, Co-Founder of Peaceable Street, said, “Since launching Peaceable Street in January 2016, we have observed that the Canadian real estate market is facing similar headwinds as in the U.S. with the departure of some significant sources of capital and as CMBS market volatility increases. Accordingly, we are pleased to open our first office outside of the U.S. in Toronto, a major international financial center. We are also thrilled to have Kelly Smith lead our efforts in Canada. Having worked with Kelly for years, we have been consistently impressed with her real estate investing acumen and strong management capabilities. She brings a deep understanding of the Canadian markets to our team, and we look forward to her many future contributions.”
Smith added, “In a very short amount of time, Peaceable Street has distinguished itself in the market. I am excited to join my former colleagues in this entrepreneurial effort to identify and invest in unique real estate assets with strong growth and income potential.”
Prior to joining Kimco, Ms. Smith was Managing Director of Capmark Canada where she managed a team and three regional offices, and originated more than C$2 billion of commercial real estate loans. Before Kimco, Ms. Smith was co-founder of Elkor Financial Group, a successful small business focusing on commercial mortgage brokerage in Toronto. Previously, she was Manager at North American Trust, a full-service trust company with offices across Canada. Smith is a graduate of Western University (formerly the University of Western Ontario) with an Honours Business Administration Degree (1986) and an MBA (1991).
Peaceable Street Capital has closed nine transactions since its formation in January 2016, in connection with real estate transactions with an aggregate value of more than $250 million.
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. 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, parking, health care and hotels. For more information, please visit www.peaceablestreet.com.