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. "We were all leaving great jobs in the world of private equity real estate and development during a significant economic downturn. Ultimately, Advance Kiawah has put forward a four-part initiative based on four foundational pillars: Staff and Culture (creating greater opportunities for employment for people of color, a speaker series program and changing golf, hospitality and culinary internship programs to focus on recruiting from HBCU's in the hope of fostering diverse talent within the organization at every level), Home Ownership (aiming to attract a more diverse homeowner and club member demographic to Kiawah), Supplier Diversity (expansion of supplier and vendor relationships to include more Black-owned businesses and institutions while helping to equip and educate these vendors on how to do business on Kiawah), Community Outreach (connecting Kiawah Island with the greater Lowcountry community focusing on outreach, service, and philanthropy). The Sporting Club features a Marty Fischer-designed, 10-station sporting clays course. South Street Partners and Salamander Hotels & Resorts have partnered to bring 49 luxury homes to the grounds of the Forbes Five-Star resort in the heart of Middleburg, Virginia. CHARLOTTE, NC 28209, 345 FRESHFIELDS DRIVE, SUITE 210 About South Street Partners South Street Partners is a private equity real estate investment firm headquartered in Charlotte, NC and Charleston, SC whose subsidiaries include Kiawah. Floor plans may not be to scale. CHARLOTTE, NC 28209, 345 FRESHFIELDS DRIVE, SUITE 210 We could not be more excited to work with Beau and his team to bring another world-class golf experience to our members, remarked Randolph. 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. "The last thing we needed was another golf course." Chris Randolph of South Street Partners - the new owners of The Cliffs communities - remembers thinking that after the group acquired Kiawah Partners in 2013 and were determining what to do with a large centrally located piece of land on Kiawah Island, which already had half a dozen notable courses. Chris Randolph spoke with The New York Times on South Street Partners investment plans and future development. Coupled with the fact that many of the countrys fastest growing cities were in our focus region, the Southeast, but there was no lack of distressed assets for sale after what had been a couple of very tough economic years.. 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. Melton, Phillips, Randolph, and Culp all attended the University of North Carolina Chapel Hill, although not at the same time. The company has over $1 billion of assets under management. He currently resides in Summerville, SC with his wife and son. He has done an incredible job in a very short amount of time., Palmetto Bluff, a 20,000-acre community located in Bluffton, South Carolina, is the latest addition to South Street Partners continued push into luxury private residential club communities and resorts in the Southeast. South Street Partners looks for opportunities. On Lake Keowee [at the Cliffs], we just set a record with a purchase price of $6.3 million. Advance Kiawah is a multifaceted initiative to create a diverse, equitable, and inclusive future for Kiawah Island. As the partners surmised, there was plenty of opportunity in the Southeast. Kiawah Partners purchased Kiawah Island in 1988. 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. Anyone can read what you share. . Chrome Extension. South Street acts as a principal investment platform as well as an operating partner and co-investor for institutional partners and family offices 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. The Cliffs at Walnut Cove in Arden, N.C., just outside Asheville. All rights reserved. KIAWAH ISLAND, SC 29455, 701 EAST BAY STREET, SUITE 518 The firms inaugural discretionary commingled fund raised over $225 million, significantly exceeding an original target of $100 million. That money was focused more on the Northeast and what they call the 24/7 coastal cities, said Chris Randolph, who joined South Street as a partner shortly after its founding. Rob has spent the last 16 years of his career with Discovery Land Company holding management and executive positions at several of their communities/clubs and most recently serving as the CEO of Mountaintop Golf & Lake Club in Cashiers, NC. Our goal is to provide an accessible and barrier-free environment for our website, online services and other technology. From our perspective, the genuine opportunity was to breathe new life into The Cliffs, similar to what we did at Kiawah. Since its founding in 2009, South Street has established itself as one of the countrys preeminent private residential club and resort investors. We received a call from a trusted advisor about an opportunity to acquire Kiawah Partners and their portfolio of properties in South Carolina, Ireland, and St. Kitts, recalled Randolph. The company has over $1 billion of assets under management including hospitality, residential and commercial real estate investments. Chris Randolph is a Partner at South Street Partners based in Charlotte, North Carolina. The home is important, but youre buying a lifestyle. Twice a day, the receding tide reveals the silky beach of the May River Sandbar. Kiawah Partners a portfolio of real estate and operating assets including much of the remaining residential land on Kiawah Island, a 10,000-acre resort community off the coast of Charleston, SC featuring 10-miles of beachfront, the world class Kiawah Island Club, Kiawah Island Real Estate, the islands dominant residential brokerage, and Two Meeting Street Inn, a 130-year-old bed-and-breakfast located South of Broad in Charleston, SC. He currently resides in Charleston, South Carolina with his wife and son. "As more diverse families consider property here, we want them to have an opportunity to see Kiawah for what Kiawah truly isa community that's open and welcoming to all,"said Chris Randolph, partner at South Street Partners. We listened to existing property owners with open ears, and I credit three factors for our initial success on one of Americas most famous barrier islands, continued Randolph. Your California Privacy Rights / Privacy Policy. So, the good news from our perspective is we didnt have to develop huge amenity sets for each property. Dan Whalen President & Broker in Charge Phone: (843) 768-3428 Email: dwhalen@kiawah.com Address 1 Kiawah Island Parkway Kiawah Island, SC 29455 Chris graduated from the University of North Carolina at Chapel Hill with a bachelors degree in American History. While working on a project in Mexico, they discussed going home and starting a development and investment company that focused on the Southeast, a fast-growing region ripe for real-estate investment. It was a good time to buy anything, and we were focused on the Southeast generally.. We adopted a very similar mission statement of investing in lifes most important assettime with familyby providing the best service possible. The Cliffs, where single club membership opens the door to seven courses by touted architects Fazio, Nicklaus, Player, Wright, and Jackson, had always been on South Street Partners radar. We look forward to adding to our collection of properties in the not-too-distant future., Where Nature Nurtures Across Sublime Coastal Landscapes. For more information, please visit CliffsLiving.com. 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. Jordan co-founded South Street and focuses on asset management and finance across the portfolio. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. As a former fund-less sponsor raising capital on a deal-by-deal basis, reaching the closing of our inaugural U.S. discretionary commingled fund is a major achievement, said Chris Randolph, Partner. All conditions and descriptions of amenities and facilities are subject to the Developers continuing quality improvement programs. You can update your choices at any time in your settings. 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.. All conditions and descriptions of amenities and facilities are subject to the Developers continuing quality improvement programs. Floor plans may not be to scale. A native of Greensboro, North Carolina, Bennettes previous experience includes consulting, bookkeeping, human resources, event management, and fundraising. Chris Randolph, partner, believes the fund being oversubscribed by double its target can be attributed to the firm's . Mr. Randolph spoke about his firms investment plans and residential golf developments. The island accommodates more than 400,000 visitors annually. Bulks. We were all leaving great jobs in the world of private equity real estate and development during a significant economic downturn. At Kiawah, where Covid increased golf demand and drove up home prices, Beau Welling, Tiger Woods design partner, will work on a new course with a residential component. Will is also a member of South Streets Investment Committee. Chris Randolph spoke with The New York Times on South Street Partners investment plans and future development. Chris Randolph's colleagues are Philip Weaver, Jordan Phillips, Gillian Welch, Gillian Welch. The good news is weve got a very long-term outlook at all of our projects of 10-plus years, if not more. From our perspective, that means what I would call a core golf course with little to no real estate impacting the golf experience. Patrick co-founded South Street and serves as its Managing Partner focusing on all aspects of the firms businesses. Prior to joining Discovery, Patrick served in a number of roles at Terrabrook, a real estate development, investment, and management subsidiary of Westbrook Partners. from 8 AM - 9 PM ET. When the opportunity to purchase the portfolio came back to us in 2018, we looked at it on a discount to replacement basis, plus the quality of the future real estate offerings, and the deal made sense. The Fund was formed to continue South Streets established track record of executing on opportunistic, value added and special situation investment opportunities in real estate assets located in the Southeastern United States as well as select U.S. and international markets. Here Are Four Ways to Spot Greenwashing, The White House Is Considering Broad Actions to ExpandTenant Protections, The School Board Queen Endorsed by Florida Governor Ron DeSantis, The School Board Queen: How a Florida Mom Is Shaking Up US Education, Ryan Salame Invested Big In ASmall Town, Now Its Tangled Up In FTXs Fallout(Podcast), Fight to Regulate Crypto atCrossroads as Ripple Ruling Looms. He served a six-year term on The First Tee of Greater Charleston Board of Trustees (including two years as Board President) and served as Co-Chair of the Friends of the Muni which raised money to renovate the Charleston Municipal Golf Course. Select Accept to consent or Reject to decline non-essential cookies for this use. 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