Contender and Broadstreet Partner for Coastal NC Development
Deal News | Jan 15, 2025 | Broad Street Global
Contender Development and Broadstreet have teamed up to acquire over 1,500 acres of coastal land in Brunswick County, North Carolina, for $35 million. The partnership intends to develop Midway Landing, a master-planned community featuring 3,600 new homes located near Oak Island. Broadstreet, a private equity firm with a strong focus on the Carolinas, provides the equity for the project. The firm, based in Greenville, South Carolina, boasts significant experience with over $5 billion in transactions and a strategic emphasis on regional market control. Key executives at Broadstreet include CEO David Feingold, President Joseph Baldassarra, and COO Steven Baldassarra. This targeted regional investment strategy is expected to yield efficiencies and profitable opportunities for stakeholders.
Sectors
- Private Equity
- Real Estate Development
Geography
- United States - North Carolina – The development project is located in Brunswick County, North Carolina, highlighting the regional focus of the investment.
- United States - South Carolina – Broadstreet, the equity provider, is based in Greenville, South Carolina, emphasizing its commitment to regional investments in the Carolinas.
Industry
- Private Equity – Broadstreet is a private equity firm specializing in targeted regional investments within the Carolinas, often involved in real estate projects.
- Real Estate Development – Contender Development is engaging in a large-scale residential development project, indicating activity in real estate development.
Financials
- $35 million – The purchase price for over 1,500 acres of land in Brunswick County, NC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Broadstreet | Equity Provider | Company | A private equity firm based in Greenville, SC, focusing on growth sectors in the Carolinas with over $5 billion in transactions. |
| Contender Development | Developer | Company | A development company partnering with Broadstreet to create a master-planned community in Brunswick County, NC. |
| David Feingold | CEO | Person | CEO of Broadstreet, responsible for overseeing private equity investments and company strategy. |
| Joseph Baldassarra | President | Person | President of Broadstreet, involved in executive management and strategic decision-making. |
| Steven Baldassarra | Chief Operating Officer | Person | COO of Broadstreet, responsible for operations and project oversight. |