Keystone Equity Partners has acquired David Nicholas Building & Property Maintenance, a luxury residential property management provider serving Southern New Jersey’s coastal communities. The deal marks Keystone’s first platform investment under its Shoreline Platform, focused on scaling services for high-end second-home owners in vacation markets.
Founded more than 25 years ago, Nicholas manages a portfolio of 130-plus high-end coastal homes with an estimated market value exceeding $400 million. Keystone said the acquisition gives Shoreline an established operating base with a long-standing reputation among affluent homeowners seeking dependable, full-service property management.
Keystone’s Shoreline Platform is backed by Tony Frick, Matthew Malinowski, and Ira Lubert. Keystone is positioning the platform around demand drivers tied to wealth concentration in real estate and a sizable second-home base across Southern New Jersey shore towns, with the goal of expanding capacity and services while maintaining Nicholas’s existing service standards.
Nicholas founder David Nicholas will partner with Keystone as the business enters its next phase of growth, with Keystone emphasizing a hands-on, operational approach and long-term value creation in founder-led service businesses.
KEY QUOTES
“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.”
Tony Frick
“We couldn’t have asked for a better partner with which to launch our residential property management platform,” “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.”
Matthew Malinowski
“Keystone is a mission-oriented organization that embodies our values and long-term vision,” “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.”
David Nicholas, Founder
