David Henry, retired vice chairman, president and CEO of Kimco Realty Corp. (NYSE: KIM) and co-founder of Peaceable Street Capital, joined REIT.com for a video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
Henry is received the of Edward H. Linde Industry Leadership Award at the conference. He said he expects the REIT industry will continue to grow because “the REIT business model makes a lot of sense.”
Henry explained that his latest venture, Peaceable Street Capital, involved teaming up with the private equity firm Orangewood Partners to invest in preferred equity capital across a broad range of real estate assets.
“There is a need for equity as the banks tighten up a little on how much they are willing to lend, and the commercial mortgage backed securities (CMBS) market is a little volatile today, so we think our timing’s good,” Henry said.
Meanwhile, Henry said the future for the REIT industry today looks “very bright.”
He added that although there are a “few clouds” on the horizon, including rising rates, and potential tax reform, “I think it will only affect the industry around the edges.”