What was thought to be only a partial buy out has turned into a complete buy out of all seven of The Cliffs luxury communities located in the Upstate South Carolina and Western North Carolina. The Cliffs were previously owned by Arendale Holdings, LLC of Florida.
The new owners, South Street Partners, acquired all seven of The Cliffs communities after an eight-month process that culminated on February 28, 2019. According to their website, South Street Partners was founded in 2009 and “is a private equity real estate investment firm headquartered in Charlotte, NC and Charleston, SC with over $1 billion of assets under management. South Street acts as a principal investment platform as well as an operating partner and co-investor for institutional partners interested in special situations, opportunistic and value add real estate investments in the Southeastern United States as well as select continental US and international markets.” South Street also acquired the private island community development of Kiawah in 2013, located off the coast of South Carolina near Charleston.
South Street is the third owner of The Cliffs. Jim Anthony was the founding developer of these master-planned luxury communities in 1989. Enthusiasm for the change to South Street is running high as they intend on rolling out many of the same strategies used in marketing their other successful properties at The Cliffs.