BRD Land & Investment: Chapter 11 Filing and First-Day Motion Tracker

BRD Land & Investment, a South Carolina partnership that sells entitled land to homebuilders, filed chapter 11 petitions on February 24, 2026, alongside two wholly owned affiliates in the U.S. Bankruptcy Court for the Western District of North Carolina. The debtors, represented by Rayburn Cooper & Durham, P.A., filed seven first-day motions on the petition date. BRD held $1.42 million in its main operating account and owed $413,095 in prepetition property taxes at filing. The largest identified asset is the Warden Station development in Conway, South Carolina — approximately 1,763 acres zoned for 3,318 residential units — financed in part by a $14.49 million DLP Capital loan.

Debtor(s)	BRD Land & Investment
Court	North Carolina Western
Lead Case Number	26-30215
Petition Date	February 24, 2026
Judge	Laura T. Beyer
Claims Agent	Verita Global

Debtor Structure and Operating Profile

The voluntary petitions identify three related chapter 11 filings. BRD Land & Investment (Case No. 26-30215) is the parent entity and sole member of BRDL Warden Station Holding Co, LLC (Case No. 26-30213), which in turn is the sole member of BRDL Warden Station, LLC (Case No. 26-30214). A joint administration motion requests coordinated case management under the lead case number.

BRD describes itself as an entitlement-and-permitting company selling shovel-ready land to national and regional homebuilders in the Southeast. The firm was founded in 2018 and is headquartered at 6433 Bannington Road in Charlotte, North Carolina. BRDL Warden Station, LLC is a project-specific entity that holds real property for the Warden Station development in Conway, South Carolina.

Workforce. At filing, BRD employed six people — five salaried in Charlotte and one in Scottsdale, Arizona. That headcount was already down from ten before February 20, 2026. A further reduction to two employees is scheduled by March 13, 2026. Neither Warden Station entity has employees; all staff work for BRD Land & Investment. Payroll is processed through Intuit QuickBooks under a service-level agreement with affiliate Buller River Development Partners.

Warden Station and Development Portfolio

The Warden Station project is BRD's largest identified development asset. The approximately 1,763-acre site at Pitch Landing Road and Highway 701 South in Conway, South Carolina, is zoned for 3,318 units: 1,380 single-family detached homes, 1,018 townhomes, and 920 multifamily units, with an estimated 25-year build-out. BRD Land & Investment Management, LLC purchased the property in February 2024 for approximately $17.6 million. The Conway City Council approved the planned-development zoning on September 16, 2024. The development plan includes a 500-acre public land donation to Conway for recreational amenities.

DLP Capital lending. DLP Lending Fund, LLC provided a $14,488,000 loan for the Warden Station development. DLP also separately lent $24 million to BRD for a 361.66-acre, 1,065-lot property in Youngsville, North Carolina, described as pending sale to a Berkshire Hathaway-owned homebuilder for $47 million. That loan carried a 15.25% interest rate with 70% loan-to-value and 80% loan-to-cost ratios. DLP Lending Fund, LLC appears on the notice list in each of the first-day motions.

BRD's website lists additional projects across North Carolina and South Carolina, including Reedy Creek Preserve in the Charlotte area, Golden Grove near Charleston, Badin Meadows near Albemarle, Medlin Forest in Concord, Waxhaw Landing Phase 2 in the Monroe area, and Cadence Meadows.

First-Day Motions and Financial Position

The seven-motion opening package includes five linked filings:

• Docket 0004: joint administration motion
• Docket 0006: bank accounts and cash management motion
• Docket 0007: utilities motion
• Docket 0009: payroll and employee practices motion
• Docket 0010: prepetition taxes motion

The public first-day index also lists cash-collateral and claims-agent retention filings.

Cash position. The debtors maintained two Wells Fargo accounts as of February 23, 2026. BRD's main operating account held $1,424,776.58, and the Warden Station project account held $231.65. Property sale proceeds flow into the BRD operating account for disbursement to operating expenses, payroll, and creditor payments.

Payroll. Total payroll for the period ending February 20, 2026, was $67,792.62, projected to drop to $47,654.97 for the following period and to approximately $17,944.84 per week after the scheduled March 13 reduction to two employees. Accrued unpaid wages at the petition date totaled $9,530.99. Health insurance is provided through Blue Cross Blue Shield of South Carolina, with dental and vision through Principal Financial Services. The debtors cover 70% of employee premiums at approximately $1,497 per pay period.

Taxes. The debtors owed $413,095.42 in unpaid property taxes on properties in Horry County and Orangeburg County, South Carolina. No prepetition state or local income tax obligations were estimated, and franchise taxes were current through 2025.

Utilities. Average monthly utility and service costs totaled approximately $19,458. The largest line items were software and technology services: Smartsheet at $5,611 per month, Ideals at $5,045, and ThinkManaged at $3,613.

Frequently Asked Questions

When was BRD Land & Investment's chapter 11 filed?

The debtors filed on February 24, 2026.

How many debtors are listed in the related chapter 11 filings?

Three debtors: BRD Land & Investment (Case No. 26-30215), BRDL Warden Station Holding Co, LLC (Case No. 26-30213), and BRDL Warden Station LLC (Case No. 26-30214). BRD is the parent; Holding Co and Warden Station are wholly owned subsidiaries.

What is the Warden Station development?

Warden Station is an approximately 1,763-acre planned development in Conway, South Carolina, zoned for 3,318 residential units including 1,380 single-family homes, 1,018 townhomes, and 920 multifamily units. BRDL Warden Station, LLC, one of the three debtors, holds the project real property. The site was purchased in February 2024 for approximately $17.6 million.

Who is the prepetition lender?

DLP Lending Fund, LLC provided a $14,488,000 loan for the Warden Station project and a separate $24 million loan for a Youngsville, North Carolina property. DLP appears on the notice list in the first-day motions.

Who are the debtors' attorneys?

Rayburn Cooper & Durham, P.A. in Charlotte, North Carolina. Matthew L. Tomsic and Natalie E. Kutcher are listed as counsel on the first-day motions.

What is BRD's cash position at filing?

The debtors held approximately $1.43 million across two Wells Fargo accounts as of February 23, 2026, with nearly all funds in BRD's main operating account ($1,424,776.58).

Where can creditors find official proof-of-claim materials?

The federal judiciary provides the standard proof of claim form. Case-specific deadlines and service requirements are set by court order in the BRD chapter 11.

Who is the claims agent for BRD Land & Investment?

Verita Global serves as the claims and noticing agent. The firm maintains the official claims register and distributes case notifications to creditors and parties in interest.

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