Business

Business

CIT Provides $10 Million to Charleston-based Blue Sky Specialty Pharmacy

September 8, 2022 by 0 Comments
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NEW YORK, Sept. 8, 2022 /PRNewswire/ — CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business provided $10 million in financing to Blue Sky Specialty Pharmacy.

(PRNewsfoto/CIT, a division of First Citizens Bank)(PRNewswire)Based in Charleston, South Carolina, Blue Sky Specialty Pharmacy uses technology to accelerate the prescription process for patients, physicians, payers and pharmaceutical manufacturers by meeting their unique needs and providing transparent access to necessary medications.

The financing was arranged via a unique collaboration between First Citizens Middle Market Banking team and the Asset-Based Lending and Healthcare Finance businesses that First Citizens acquired in January through its merger with CIT.”Our technology streamlines the specialty prescription process and provides industry-leading, customizable solutions and services for our customers,” said Matt Walsh, CFO at Blue Sky. “We appreciated the bank’s expertise in arranging this financing that will enable us to continue to innovate and provide our customers with greater transparency throughout the prescription process.”

Blue Sky Specialty Pharmacy

“Blue Sky’s innovative business model and people-first approach helps them stand out in the specialty pharmacy industry,” said Chris Esposito, managing director and group head for CIT’s Asset-Based Lending business. “We were pleased to assist them in arranging this financing and look forward to future opportunities to support their business goals.””Blue Sky is a great client with a bright future,” said Brendan Chambers, managing director and group head for First Citizens Middle Market Banking business.

“This transaction is a great example of how First Citizens’ merger with CIT has created unique capabilities that enable us to support middle market clients with a whole range of new financing options to help their businesses grow.”CIT’s Asset-Based Lending business meets clients’ working capital needs by offering innovative structures that reduce funding costs and lower operational risks while improving earnings by leveraging accounts receivable, inventory or fixed assets as collateral.

About CIT
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations.

The parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company’s commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 550 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey.

Discover more at cit.com/firstcitizens.

MEDIA RELATIONS:
Lexa Tutela
212-461-5305
Lexa.Tutela@firstcitizens.com

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SOURCE CIT, a division of First Citizens BankThe above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.

Business - Food & Bev

Discover how Lillie’s of Charleston Got Their Start – A Beautiful Lowcountry Success Story – New Video

September 7, 2022 by 0 Comments
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The motto of Lillie’s of Charleston is “May you never feel unwanted or unloved or hungry”

Lillie’s of Charleston serves up Southern and low country BBQ sauces, hot sauces and spice mixes. Born in Charleston, South Carolina and now available nationwide via Amazon.

Learn more about their amazing journey.

Official Website

Business - Food & Bev - Mount Pleasant, SC

Award-Winning 10-Year Old Mount Pleasant Restaurant for Sale – $2 Million

September 1, 2022 by 0 Comments
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Business Description

10 years of growth and profitability! Well-appointed, award-winning full-service restaurant centrally located in Mt. Pleasant.

$2.6M projected sales and over $700K+ projected cash flow. Roughly 3600 square feet, plus a large outdoor area. Contact the broker for more detail and financial requirements.

A great addition to an existing portfolio with a proven track record of profitability.

Detailed Information

  • Location: Mount Pleasant, SC
  • Inventory: Not included in the asking price
  • Employees: 25
  • Facilities: Well-maintained elegant dining room and bar centrally located in upscale development and surrounded by rooftops.
  • Growth & Expansion: New owner could easily expand hours and seating capacity to increase revenue.
  • Support & Training: Seller training is negotiable. Reason for Selling: The seller is scaling back operations

Official Listing and Broker Contact Information

Business - Events - Food & Bev

Grand Opening of Latin & South American Themed “Gingerline” in downtown Charleston, SC

September 1, 2022 by 0 Comments
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Bringing a tropical retreat to the heart of Charleston’s Historic District, Gingerline is thrilled to announce its opening on Monday, August 29.

Gingerline is a destination for vibrant cocktails and coastal-inspired dishes influenced by the flavors of Latin & South America.

Boasting a 3,500-square-foot venue and an expansive outdoor patio overlooking Market Street, Gingerline’s indoor-outdoor space seats up to 122 guests.

Gingerline is located at 55 Market St. and is open for dinner every day and for brunch Saturday and Sunday. 

Business - Food & Bev

Charleston & Folly Beach Fave Taco Boy Restaurant Opening in Asheville, NC

September 1, 2022 by 0 Comments
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ASHEVILLE, NC – Founded on South Carolina’s Folly Beach in 2006, Taco Boy has become known for fresh, scratch-made Mexican-inspired eats and drinks in the Lowcountry. The family of taquerias currently has three locations: the flagship restaurant on Folly, a second in downtown Charleston, and the latest in Summerville, SC. By the end of 2022, Taco Boy plans to open in West Asheville. And in early 2023, its second North Carolina location will open in South Asheville’s Biltmore Park.  

The new openings in Asheville will coincide with the rollout of a new food and beverage menu across all locations, which will unveil the talents of Taco Boy’s new Culinary Director, Charleston-based Chef Francisco Alvarez, who is applying his training at lauded Las Vegas restaurants to the cuisine of his family’s Mexican heritage. Taco Boy’s new elevated craft cocktail and beverage menu that will also rollout later this year is from Taco Boy’s new Beverage Director, Asheville-based mixologist Maty Hollingsworth. It’s the beginning of an exciting new era for Taco Boy, with even more tantalizing news yet to come. 

Taco Boy West Asheville is at 521 Haywood Rd., on West Asheville’s main hip thoroughfare. Though nearly a turnkey location, big changes are afoot. The opening will follow a remodel geared toward community collaboration, where food, drink, music, entertainment, and art will intersect. The restaurant will feature work sourced from local artisans. Hiring will begin in November. 

The new restaurant in South Asheville will take up space at 2 Town Square Blvd. #130 in Biltmore Park Town Square, and is expected to open as early as late January 2023, with hiring happening around the New Year. Taco Boy Biltmore Park joins a slew of local and independent restaurants, cafés, and retail businesses located in the walkable South Asheville community. 

“I couldn’t be more excited to bring Taco Boy to Asheville,” says Taco Boy founding partner and owner Karalee Nielsen Fallert. “Living in both cities has confirmed what I always believed as a visitor: that our values, as a family of neighborhood taquerias, align with the greater sense of purpose I feel within the community in Western North Carolina. We believe that all good things are possible with the power of inclusivity, generosity, interconnectedness and tacos….and always EXTRA guac!” 

At both its new Asheville locations, Taco Boy will continue the restaurant’s charitable mission to “Use the power of tacos to nurture people, activate fun, inspire action, and build community.” It will be partnering with local Asheville nonprofits for a variety of fun and fundraising initiatives, just as it does in Charleston with local nonprofits in the Holy City.  

ABOUT TACO BOY 

THE FOUNDER: Taco Boy was founded in 2006 by one of Charleston’s most prolific and progressive restauranteurs, Karalee Nielsen Fallert. She is the founder and CEO of restaurant management company All Good Industries, and is a founding partner and co-owner of Charleston’s Park & Grove, The Royal American, The Bounty Bar, The Green Heart Project (connecting students with fresh produce and nutritional education), and the Montessori Learning Collective in North Charleston, as well as Taco Boy(s). She is also a leading advocate for community projects and women-led initiatives. Her awards and accolades are many, but include, most recently, the Charleston Wine + Food festival’s prestigious Laura Hewitt Culinary Legend Award in 2020 for her contributions to the Charleston culinary community. She is looking forward to bringing that same passion for community building to Asheville. 

THE CHEF: Taco Boy is newly helmed by Culinary Director Francisco Alvarez, whose approach to the restaurant’s cuisine is wholly authentic. From spending his summers working in a tortilleria in Mexico to cooking in some of the finest restaurants in Las Vegas (Estiatorio Milos, International Smoke, and Madero Street Tacos), Francisco brings to Taco Boy a technical level of expertise in Mexican cuisine and a passion for making handmade heirloom corn tortillas using the centuries-old process of nixtamalization, which lends greater flavor and health benefits to corn tortillas. 

THE FOOD: A citrus- and salsa-infused feast for the senses, Taco Boy offers scratch-made tacos, fajitas, and quesadillas, authentic sides including rice and beans, chipotle slaw, and Mexican street corn, guacamole with surprising optional toppings and other satisfying starters, plus margaritas and Latin-infused craft cocktails, and a weekend brunch menu that delivers more Mexican-inspired flavors to the table. The restaurant is diet sensitive, offering vegetarian, vegan, and gluten-free options. Taco Boy is committed to using responsibly sourced, high-quality ingredients. With the roll out in Asheville, tortillas will be handmade using heirloom corn and a traditional nixtamalization process. More to come on the tortilleria and this ancient method! Find Taco Boy’s menu and more details at tacoboy.net. 

***** 

For updates and to stay abreast of our progress, please follow us on social media: 
Facebook: Taco Boy 

Instagram: @TacoBoyCHS 

Business - Food & Bev

Charleston, SC Brewery for Sale for $1M

August 30, 2022 by 0 Comments
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Business Description

CHARLESTON AREA BREWERY FOR SALE:
Turn-key brewery in the middle of the booming Charleston South Carolina. 3200 barrels/year capacity with modular potential for expansion. This brewery has produced over 40 different beers annually, for both retail service in the expansive taproom/patio, plus distribution across the state. Ample power and water supply, drainage, forklift/truck access, ample parking, and refrigeration. Centrally located, this facility site includes, Manufacturing space, taproom, and active event site. Facility has an excellent layout for special events w/fully fenced perimeter, and can accommodate parties up to 900 people in an outdoor setting. 2021 retail and distribution sales on pace to exceed 2019. Sellers will consider taking on a partner or an outright sale of the brewery facility without tradename, recipes and intellectual properties. Confidential sale will require non-disclosure and financial qualification. Contact Tim Hagar.

Contact for for inquiries

Business - Lifestyle

Vision to Learn partners with Charleston to provide free eye exams and glasses to low-income children

August 28, 2022 by 0 Comments
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This week marked the official partnership of Vision to Learn and Charleston. Former CCF board chair Henry Blackford played a big role in bringing this organization to South Carolina, and Gov.

Henry McMaster signed legislation allowing its full operation here.

The group provides eye exams and free glasses to low-income kids who otherwise can’t see the board, their books or participate in class. Nationwide, they’ve helped more than 374,000 kids…and now, ours are in the mix!

Business - North Charleston, SC

This is the kind of house $133K will buy you in North Charleston

August 25, 2022 by 0 Comments
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Looking for your dream home, but only having 133K to spend, we may have found the perfect listing. It may be a fixer-upper, but there is character and potential.

Location: 1905 Boxwood Ave North Charleston, SC 29405

Size: 816 SQ Feet

This 2-bedroom, 1-bathroom single-family residence, sits on a 7,840 SqFt lot, located perfectly just outside the city. The common space offers a living room, kitchen, and formal dining room that would make it a great potential rental property. Great fixer-upper/BRRRR potential! Lot has been cleared and also offers the potential to build another unit on the property. Very close to Riverfront Park, Park Circle restaurants, and a 20-minute or less drive to downtown & Mt. Pleasant. Home will be sold AS-IS and no repairs will be made by the seller

Official Listing

Business - Lifestyle

Broadstreet, Inc. makes private equity investment in Crystal Lagoons® amenities in South Carolina

August 22, 2022 by 0 Comments
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Greenville, S.C – August 22, 2022 – Broadstreet, Inc. has continued its strong growth in the Carolinas by providing private equity backing to the first state of the art Crystal Lagoons®  amenity in South Carolina through Broadstreet’s exclusive funding relationship with Blue Lagoon Development LLC, whose principals are Ford Elliott and Josh Howard. The first project is expected to be in Columbia, South Carolina and more will follow across the state. 

“We continue to work exclusively with Broadstreet as our valued private equity institution which has allowed us to continue to undertake exciting development projects and continue our massive footprint of projects in the Carolinas,” commented Ford Elliot, Chief Executive Officer of Contender Development and Blue Lagoon Development, LLC.

Through a unique and patented concept and technology that allows developers to build and maintain crystalline lagoons of unlimited size at very low cost, Crystal Lagoons® technology has the ability to create an idyllic beach lifestyle anywhere in the world. The technology has been implemented in more countries around the world and cities in the United States than any other lagoon developer. As one of the top five fastest-growing state populations between 2020-2021, South Carolina is well positioned for its first of these exceptional properties.

“Imagine living near a beautiful, crystal-clear water lagoon surrounded by white sandy beaches without actually having to travel to the beach,” said David Feingold, Chief Executive Officer of Broadstreet, Inc. “We are excited to bring this innovative amenity to South Carolina.”

Broadstreet and its development partners plan to locate the first lagoon in Columbia, South Carolina near a residential housing development. Many of the other similar projects around the United States offer more than just sunbathing and swimming, with the opportunity for shopping, entertainment, restaurants and hotels around the lagoon. The team has the option to develop three of these lagoon projects within the state.

“The options are endless to make this a destination everyone can enjoy,” said Joseph Baldassarra, President of Broadstreet, Inc. “It’s a tremendous opportunity to be a part of something very special.”

“I am thrilled with this unique project. I’m not aware of any other private equity firm doing similar deals like this. This is an incredible opportunity to help create a distinctive destination for residents and tourists to enjoy,” added Akhil Morada, Senior Managing Director of Broadstreet, Inc.

Crystal Lagoons ® amenities are sustainable and eco-friendly using a minimum number of additives and energy.  They use up to 100 times fewer chemicals and only consume 2% of the energy needed by a conventional swimming pool. Additionally, the lagoons can use any type of water and are only filled once, and they operate in a closed circuit. By bringing beach life, water sports and entertainment close to home, Crystal Lagoons® amenities also lower the human impact on biodiversity and reduce CO2 emissions associated with car and plane travel to natural beach destinations. It is a U.S. based company with locations around the world and was recognized as the Champion of Champions in the 2022 Green World Awards for winning the carbon reduction category, beating 200 winners across all other categories including climate change, water and energy efficiency and innovation.

ABOUT BROADSTREET

Broadstreet, Inc. is a private equity firm based in Greenville, S.C. with an impressive track record of identifying promising growth sectors for capital investments. The company has achieved approximately $3 billion in transactions and more than 600 people are employed in the businesses in which Broadstreet is the lead equity provider. Broadstreet is also the equity provider for the largest land infrastructure developer in the Carolinas with more than 40 projects that cover approximately 30,000 home sites. The firm’s significant development business has allowed expansion to ancillary real-estate based opportunities that include home development, land banking, and hotel lodging. For more information, visit broadstreetprivateequity.com.