Insert 'p' tag to content value the way wordpress does

Usually I am annoyed at how WP editor inserts <p> to my content, but now I have a front end wp_editor for a featured area with a buddypress profile. The problem is that when I echo out the value of this field to the public profile the text is formatted but smashed together because the magical <p> that WordPress usually puts in are not present with my current approach. Here is my echo in the profile-loop.php

foreach ( $featured_content as $content ){
_e('<div id="featured_area_content">'.stripslashes($content->content).'</div>');