Margate, N.J., Jan 23 — Keystone Equity Partners (Keystone) announced today the acquisition of David Nicholas Building & Property Maintenance (Nicholas), Southern New Jersey’s premier luxury residential property manager. For more than 25 years, Nicholas has provided property management services to a portfolio of 130+ high-end coastal homes with a market value of over $400M.
Keystone’s Shoreline Platform is backed by Tony Frick, Matthew Malinowski and Ira Lubert, individuals with extensive operational, real estate and investment experience. Frick elaborated on Keystone’s luxury property management thesis, “With over 30% of High-Net-Worth Individuals’ assets estimated to be invested in real estate, a 1.5x ratio of second homes to primary homes in the Nicholas service area, and a regional addressable market of over 25,000 second homes – luxury residential property management is poised for substantial growth in Southern New Jersey vacation towns.”
“We couldn’t have asked for a better partner with which to launch our residential property management platform,” says Malinowski. “For nearly three decades, Nicholas has been built on a foundation of trust, transparency and reliability, and we look forward to honoring those values as we scale this much needed and in demand service.”
“Keystone is a mission-oriented organization that embodies our values and long-term vision,” said David Nicholas, Founder. “They are the right partners to honor our legacy and lead the business into the future, and I look forward to all that we accomplish together in service of our client homeowners.”