Kiawah Partners, the Charleston-based development firm that has served as the main developer on Kiawah Island for the past 25 years, has been purchased by a Charlotte investment firm, the Charlotte Observer reports.
South Street Partners, described by the Observer as “a boutique investment and management firm based in Charlotte’s Dilworth neighborhood,” acquired Kiawah Partners on Monday. Terms of the deal were not disclosed.
The deal gives South Street control of the remaining developable residential inventory on Kiawah, an island community 21 miles south of Charleston, the paper reported. South Street will also control the members-only Kiawah Island Club, a real estate company, a utility company, a shopping center and resort properties in Ireland and the Caribbean.