South Street has really made a push into offering turnkey homes at its properties. South Street partner Chris Randolph said there would be no changes in The Cliffs' management team because "we bought an operating business and it's running well." In 2013, the South Street Partners acquired Kiawah Partners, the master developer of Kiawah Island. In addition to development responsibilities, Scott evaluated and negotiated all contracts on existing land development parcels being sold to regional and national homebuilders and managed all aspects of the sale and due diligence process. The 2010 Census showed the region contains 14 of the nations 15 fastest growing cities. In May 2013, Kiawah Partners was sold to South Street Partners who retained all of the development staff and have kept the original Kiawah Partners vision intact. He lives in Charleston, SC, with his wife, daughter and two sons. The Fund can invest across the entire spectrum of real estate asset classes but will be primarily focused on upscale and luxury resort and residential opportunities including its first two investments: The Fund secured commitments from a broad range of high-quality limited partners including family offices, Registered Investment Advisors, wealth management firms, funds of funds and high-net-worth investors through an oversubscribed fundraising process. The Fund will seek to generate attractive risk-adjusted returns for its limited partners by: The current environment and demographic trends in our markets of focus create significant opportunities for the Funds investment strategy, said Patrick Melton, Co-Founder and Managing Partner of South Street. The article about your company in Business North Carolina totally rocks! "Residences at Salamander is a low-density, protected community in a beautiful, natural setting with a temperate climate," said Chris Randolph, a partner at South Street Partners. The economy and markets are "under surveillance". Chris Randolph, partner, believes the fund being oversubscribed by double its target can be attributed to the firm's . Finally, we shifted the focus from a traditional country club dominated by golf to a family-centric club with a variety of amenities and programming that attracts all ages.. He currently resides in Summerville, SC with his wife and son. Scott is the President of South Street Partners Southeast Land Management, LLC and has shared management responsibilities across all aspects of the 51 property level companies. He was most recently Senior Associate at Fifth Third Securities in Charlotte, North Carolina where he focused on both buy-side and sell-side mergers and acquisitions and equity and debt capital raising assignments. Select Accept to consent or Reject to decline non-essential cookies for this use. Henry is a native of Statesville, North Carolina. Its golf, mountain, and lake amenities were best in class, but just needed some fresh operational oversight and capital for necessary renovations and new amenities. South Street, a private equity development firm based in Charlotte, N.C., and Charleston, S.C., has scored major acquisitions of the Kiawah Island Club in South Carolina and its two golf courses; Palmetto Bluff in Bluffton, S.C.; and the Cliffs development, which is set in the Blue Ridge Mountains and has seven separate communities in South Carolina and North Carolina. Presented plans, materials and specifications are subject to architectural and other revisions at the sole discretion of the developer, builder or architect, or as may be requested by law. Dixie graduated from the University of North Carolina, Wilmington with a Bachelor of Arts in Communication Studies, and holds various Human Resources certifications. We encourage everyone to participate and be the cause. Amy resides in Charleston, SC, with her husband and twin girls. The story of "old friends, new alliances and strokes of good fortune" translates into SUCCESS! Your California Privacy Rights / Privacy Policy. Chrome Extension. That money was focused more on the. Wesley graduated from the University of Georgia with a bachelor's degree in Real Estate from the Terry College of Business. CHARLESTON, SC 29403. When typing in this field, a list of search results will appear and be automatically updated as you type. KIAWAH ISLAND, S.C., March 18,2021 /PRNewswire/ --In the wake of George Floyd's death, and the mass protests that followed - bringing the issue of racial and systemic injustice front and center to the American consciousness South Street Partners created "Advance Kiawah", a multifaceted initiative charged with charting a more diverse, equitable, and inclusive future for Kiawah Island. We are grateful to support a cause to expand pediatric cardiovascular services to families in the Charleston Region. In our space, a lot of money is made on the buy, so if you can get at the right point in the cycle and start a company at the bottom of the market instead of the top of one, thats a step in the right direction, Melton said. South Street just raised its first discretionary fund of $225 million. Under South Street's ownership, median pricing has increased, inventory . This is the first discretionary fund in South Streets history and allows us to be more acquisitive of new properties while continuing to work with our legacy investment partners in the private equity and hedge fund space. Previously, Chris ran acquisitions in the real estate group at Summit Capital Management, a private equity firm with over $300 million of assets under management. I used the term novel earlier, and I think it is probably still considered a little bit of a novel approach in our industry to not try and really integrate a ton of real estate on the golf frontage. CHARLESTON, SC 29403. So, we dont concern ourselves too much with slowdowns in the market in terms of our business plan, but we also want to be conscious of overdeveloping during a time when sales might not be there. KIAWAH ISLAND, SC 29455, 701 EAST BAY STREET, SUITE 518 CHARLOTTE, NC 28209, 345 FRESHFIELDS DRIVE, SUITE 210 "But we are reaching for the stars, for big things that can affect the entire community. Up and delighted to invite their members to explore our exceptional communities' across the Southeast," said Chris Randolph, partner at South Street. Chris Randolph Sales & Marketing Expert (30 Yrs), Speaker & Trainer, Published Author, Double Biz In 90 Days Expert (USA): +60105918000 (WhatsApp) - cr@cigsb.com - btw, currently in Asia region now At Crescent, Scott was responsible for evaluating residential acquisition opportunities and providing asset management for all existing portfolio communities that included implementing corporate portfolio strategies, project underwriting and financing activity. . https://lnkd.in/euxjYdCt, Executive Assistant/Facility Coordinator - Shurtape at Shurtape Technologies, LLC. Our goal is to provide an accessible and barrier-free environment for our website, online services and other technology. He resides in Charleston, SC with his wife. As stewards of three iconic golf destinations, our timeline is much longer than a lot of our competition, and we plan for the impact of economic cycles during these longer holds. The Cliffs was almost like a sanctuary for those who were living here. Wesleys responsibilities at South Street Partners include deal sourcing, acquisitions, and asset management. 2023 www.greenvilleonline.com. https://lnkd.in/euxjYdCt. Build highly targeted prospect lists. What does the fund allow you to do for the future, and how will it affect your existing portfolio of properties? As the partners surmised, there was plenty of opportunity in the Southeast. Chris Randolph is the Partner at South Street Partners based in United States. Kiawah Island is home to some 4,100 residential properties and a world-class resort. John earned his M.B.A. from UNCs Kenan-Flagler Business School in Chapel Hill, North Carolina and graduated from Washington & Lee University with a bachelors degree in Economics and Politics. Palmetto Bluff a ~20,000-acre private residential club and resort community located in Bluffton, SC just north of Savannah, GA featuring 32 miles of river frontage, a 5-star 200-key Montage Hotel, the Palmetto Bluff Club and May River Golf Club, Palmetto Bluff Realty and entitled land for approximately 2,500 additional residences. Thats not to say there arent certain amenities were now building and developing, but a lot of it was already there. All in all, it was a special safe place to be during an otherwise scary time, Randolph said. KIAWAH ISLAND, SC 29455, 701 EAST BAY STREET, SUITE 518 about south street partners south street partners is a private equity real estate investment firm headquartered in charlotte, nc, and charleston, sc and the largest owner of private residential club and resort communities in the southeast - including kiawah island club and kiawah island real estate, palmetto bluff, the cliffs, and the residences Henry began his career with ORIX Corporate Capital in Dallas, Texas, where he provided middle-market companies with flexible capital for leveraged buyouts, recapitalizations, and acquisitions. Wheels Up partners include Porsche, American Express, Wine Access, and Abercrombie & Kent among others. The program has expanded to Keowee Springs and will soon launch at other communities offer a range of options, from turnkey cottages clustered around amenities to higher-end spec homes with various floor plans and interior packages. Chris resides in Charleston, South Carolina with his wife and two yellow labs. What ended up happening is people in the market wanted to be a part of it, too. The Charlotte and Charleston-based real estate investment, management and development company owns The Cliffs, seven golf and residential communities that dot northern Greenville and Pickens counties, the shores of Lake Keowee and the mountains just minutes away from Asheville. Prior to joining South Street, Amy served as Vice President of Marketing for The Cliffs as well as Chief Marketing Officer for Timbers Resorts, where she managed the resort hospitality and real estate marketing for their portfolio across the globe. The Fund could provide South Street with as much as $2.25 billion of unlevered buying power via these partnerships and co-investment vehicles. To date, the South Street Partners' leadership teams have been professionally trained on diversity, equity and inclusion and this training will soon be rolled out to all 500 employees. Amy is a passionate photographer and horseback rider and received a BFA from University of Georgia in Art Education and a BFA in Graphic Design from Trident College. A marketing veteran with 22 years of industry experience, Amys focus as Vice President of Marketing for South Street Partners is to oversee the strategy and execution of marketing programs for corporate, real estate development, and club entities. It was a great time to start a company buying real estate, Phillips adds. We are excited to have emergency care and medical specialties brought to the residences of Kiawah Island and Seabrook Island. At the clubs Cassique Boathouse, access is provided to a variety of water equipment to explore surrounding creeks and marshlands. Our theory is that if you create an incredible world-class golf experience, just the proximity of homes to that course will yield higher prices than a traditional fairway-lined real estate golf course development. Prior to Fifth Third Securities, Henry worked for Challenger Capital Group, a Dallas, Texas, based boutique investment bank focused on middle market mergers and acquisitions. During this time, Terrabrook was the largest owner and developer of master planned communities in the country. During his tenure there, Jordan had direct involvement in all areas of the companys operation which led to lengthy stints in The Bahamas, Mexico, and Scottsdale, Arizona. In a Shifting Economy, a Developer Keeps Asking What Buyers Want, https://www.nytimes.com/2022/09/09/realestate/luxury/-golf-homes-developer-what-do-buyers-want.html. Advance Kiawah is a multifaceted initiative to create a diverse, equitable, and inclusive future for Kiawah Island. "For generations, families have been drawn to Middleburg's mystique and its renowned equestrian and wine country lifestyle," said Chris Randolph, Partner at South Street. South Street Partners is a private equity real estate investment firm headquartered in Charlotte, NC, and Charleston, SC and the largest owner of private residential club and resort. 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. If, at any time, you require assistance please contact us directly at 828.631.1042. Our goal is to provide an accessible and barrier-free environment for our website, online services and other technology. We are so glad they follow their strategy and ignore all the noise. Enrich your list with 50+ firmographic fields, Turn website visitors into qualified leads, Save contact lists directly to your CRM platform, Read best practices and stay up-to-date with news, Compare us to other vendors in the sales intelligence space, Learn how to use AroundDeal effectively and get help when you need it, AroundDeal cares about your data privacy. Bennette assists with day-to-day asset management responsibilities for South Street Partners land holdings. We carefully analyzed The Cliffs on its own merits, surveyed the surrounding competition and felt we could outperform, explained Randolph. Started in 2009 by Patrick Melton and Jordan Phillips, alums of both Discovery Land Company and the University of North Carolina, South Street Partners now has $1.3 billion in assets under management, over one million square feet of commercial space, and has over 1,600 employees across their properties spread across six states. That helped put us on the map, Melton said. Rob is a veteran of the United States Air Force and graduated from St. Josephs College with a bachelors degree in business administration. Starting at 4,500 square. Fifteen years ago, the product of choice was the estate lots where you buy a lot, find an architect, find a builder, find a landscape architect and manage that all yourself. Wills responsibilities included debt and equity capital raising and structuring as well as asset management for Hillwoods luxury residential investments. Hoping to create a comprehensive, informed, and lasting strategyan initiative that could catalyze real change and eventually take on a life of its own South Street Partners understood that fundamental to this goal was to establish a deep and honest understanding of the inherent biases and inequities that exist within the community as a whole. He currently serves on the board of the First Tee of Charlotte and formerly served on the board of The Barrier Island Free Medical Clinic. Dan Whalen President & Broker in Charge Phone: (843) 768-3428 Email: dwhalen@kiawah.com Address 1 Kiawah Island Parkway Kiawah Island, SC 29455 Most of our neighbors feel the same way. Glad to hear more appreciation for the decoupling of real estate strategy and golf course frontage. To propel this clinic forward, we partnered with MUSC and donated almost $5 million worth of land. The Cliffs, an amalgamation of seven Carolina mountain communities, has announced $40 million in new capital investments. We think the golf consumer has gotten far more sophisticated in terms of what they expect. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Patrick is also a member of South Streets Investment Committee. Former Talent Acquisition Leader. Prospector. CHARLESTON, SC 29403. We will be updating our website over time to implement the relevant portions of the World Wide Web Consortiums Web Content Accessibility Guidelines 2.0 Level AA (WCAG 2.0 AA), which will also bring our website into further conformance with the Section 508 Web Accessibility Standards developed by the United States Access Board (Section 508). "Wheels Up shares our belief that the most precious . Golf remains, depending on where you live, a popular and lucrative attraction, so South Street is planning two new courses at Palmetto Bluff in the coming years: a nine-hole short course by King-Collins (architects of the Sweetens Cove course outside Chattanooga, Tenn., which has attracted investors like Peyton Manning); and another course at a private club. "This was a once-in-a-lifetime opportunity," says Chris Randolph, one of South Street's four principals. SouthStreetPartners.com, Cision Distribution 888-776-0942 CHARLOTTE, NC 28209, 345 FRESHFIELDS DRIVE, SUITE 210 Patrick graduated from the University of North Carolina at Chapel Hill with a bachelors degree in Business Administration from the Kenan-Flagler Business School. Find contacts on the web. Its location, wide-ranging amenities, and a 5-star Montage hotel on property add to its mystique. The good news is weve got a very long-term outlook at all of our projects of 10-plus years, if not more. Melton, Phillips, Randolph, and Culp all attended the University of North Carolina Chapel Hill, although not at the same time. Prior to joining Discovery, Patrick served in a number of roles at Terrabrook, a real estate development, investment, and management subsidiary of Westbrook Partners. He was most recently a Senior Associate at Brookfield in New York where he focused on the asset management of debt and REO investments. It incorporates substantial ocean setbacks to protect the dunes, plus a comprehensive greenbelt system that includes 305 acres of lakes and ponds, 123 acres of parks and common land, and nearly 5,000 acres of marshland. If you look at our home building activity, we are now the largest home builder at Kiawah and the largest home builder at the Cliffs. At the same time, it will also allow us to do deals entirely on our own, to the extent we would like to do that. We find SSP to be excellent developers - innovative and forward thinking. Through the downturn of 2008 to 2010, people started taking a different approach, where they werent necessarily interested in taking on a project of that type. All conditions and descriptions of amenities and facilities are subject to the Developers continuing quality improvement programs. He currently resides in Charlotte, North Carolina with his wife and two daughters. She was most recently Assistant Director of SECU Crystal Coast Hospice House where she prepared financial reports and managed strategic planning and marketing for fundraising events. That separate company, now known as Kiawah Island Golf Resort, opened in 2004, The Sanctuary, a luxury oceanfront hotel, featuring 255 rooms as well as dining, conference, and recreation facilities, including a spa, fitness center, and indoor and outdoor pools. The Funds GP structure enables South Street to scale its successful 13-year strategy of partnering with institutional investment firms on large cap transactions as well as to pursue small and mid-cap deals utilizing the Funds balance sheet. Ray graduated from the University of Tennessee with a BS degree in Civil Engineering.