Waterstone has demonstrated a strong track record of identifying and executing on real estate opportunities, and Hanes Towne Village is a great example of that approach in action.”
— Bob Pfeiffer of Peaceable Street Capital
NEEDHAM, MA, UNITED STATES, April 1, 2026 /EINPresswire.com/ -- Waterstone Properties Group announced two major transactions at Hanes Towne Village in Winston-Salem, NC: the sale of a KidStreet Urgent Care building and a new investment partnership with Peaceable Street Capital.
“Waterstone’s corporate strategy is to purchase
Waterstone acquired Hanes Towne Village in September 2025 for $32.7 million and has since been actively executing its value creation strategy. The outparcel disposition and preferred equity recapitalization are consistent with Waterstone’s broader business plan of selling down basis in non-strategic outparcels to enhance liquidity, improving merchandising mix and tenancy, and forming strategic capital partnerships to support continued growth.
Hanes Towne Village Shopping Center is a stabilized asset in a growing and affluent submarket, with upside through a concentrated leasing effort to create synergies amongst tenants and promote dwell time and cross shopping. Anchored by a high traffic Walmart Neighborhood Market, LA Fitness, and other complementary tenants, Hanes Towne Village is strategically located along a busy thoroughfare between the two of the largest hospital systems in North Carolina.
“This transaction reflects our disciplined approach to capital allocation,” said Richard Greer, Chief Investment Officer of Waterstone. “Hanes Towne Village has experienced meaningful operational and leasing momentum since acquisition. Monetizing select pad sites allows us to crystallize value while continuing to enhance the core asset and redeploy capital into high-growth opportunities within our portfolio.”
The introduction of Peaceable Street Capital as a preferred equity partner reflects Waterstone’s continued effort to build long-term strategic relationships with institutional capital providers. These partnerships are a core component of Waterstone’s investment strategy, enabling the firm to scale its platform while maintaining flexibility and control at the asset level.
“Waterstone has demonstrated a strong track record of identifying and executing on real estate opportunities, and Hanes Towne Village is a great example of that approach in action,” said Bob Pfeiffer of Peaceable Street Capital. “We are excited to partner with the Waterstone team on this investment and support the continued execution of their business plan. This transaction reflects our focus on partnering with experienced operators and providing flexible, accretive capital solutions that help drive long term value.”
Proceeds from the outparcel sale and recapitalization will be redeployed into Waterstone’s active pipeline of acquisitions and development projects, as the firm continues to expand its presence in high-growth retail corridors across the Southeast and beyond.
About Waterstone Properties Group
Waterstone Properties Group, Inc., is a privately owned and self-funded real estate development company with a diverse portfolio of properties in the United States. It specializes in the creation of retail shopping centers, mixed-use properties, residential, warehousing and logistics, corporate headquarters buildings and medical campuses. The company is also a pioneer of large-scale, immersive, entertainment and guest-focused destination locations that attract individuals and families from across the country and applying our experience to create unique and experiential healthcare environments. With a portfolio of more than 300 national and local tenants—ranging from international category leaders to local family-owned businesses—Waterstone prides itself on maintaining long standing relationships with its business partners and being an active participant in its surrounding communities. For more information visit www.waterstonepg.com.
About Peaceable Street Capital
Peaceable Street Capital is a participating preferred equity investment firm focused on providing flexible, structured capital solutions to commercial real estate owners and operators across the United States. The firm partners with experienced sponsors to bridge capital gaps, enhance liquidity, and support the execution of business plans across a wide range of asset types, including retail, multifamily, industrial, and self-storage.
Peaceable Street specializes in structuring senior participating preferred equity investments that are tailored to the unique needs of each transaction. With a disciplined underwriting approach and a deep understanding of real estate capital structures, the firm seeks to deliver certainty of execution while preserving alignment with its operating partners.
Backed by decades of combined experience, the Peaceable Street team is known for its responsiveness, creativity, and commitment to long term partnerships, as evidenced by its strong base of repeat clients and institutional relationships. For more information, visit www.peaceablestreet.com.
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