Charlotte-based South Street Partners Acquires Blue Ridge Luxury Communities

3/5/19

By Bronson Boucher, NCBIZNews

Charlotte’s South Street Partners has acquired The Cliffs, seven private luxury residential communities built across 20,000 acres in the Blue Ridge region of North and South Carolina for an undisclosed amount.

Florida-based real estate investment and development group Arendale Holdings LLC sold the collection to South Street, after purchasing it in 2013 from SunTX Urbana and The Carlile Group.

South Street said it has a redevelopment plan for new amenities and future neighborhood development at The Cliff’s Mountain, Lake and Asheville properties.

“The setting of The Cliffs communities,” says Patrick Melton, managing partner at South Street, “nestled in the Blue Ridge Mountains with close proximity to booming Greenville, South Carolina, and Asheville, North Carolina, makes this a very unique opportunity.”

South Street is noted for acquiring Kiawah Partners, the master developer behind South Carolina’s Kiawah Island, and accruing home sales of $1.5 billion since the 2013 acquisition.

Homes at The Cliffs range from $350,000 to over $6 million; greenfield sites start at $125,000.

Amenities throughout The Cliffs include golf courses, wellness centers, a marina and beach club, boating, cycling, tennis, wine clubs and restaurants.

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