South Street Partners, master developer of Kiawah Island and The Cliffs, and Henderson Park Capital Partners, a private equity real estate manager, announced June 9 they have acquired Palmetto Bluff in Bluffton, South Carolina.
“Palmetto Bluff is an outstanding drive-to resort and residential destination set in a unique landscape which is set to benefit from the continued resilience of the premium leisure sector and South Carolina’s long-term appeal,” said Henderson Park founding partner Nick Weber. “The resort offers great potential for further expansion and we are excited to team up with South Street as operating partners to enhance a truly exceptional luxury community for residents, guests and members.”
Surrounded by 32 miles of riverfront, Palmetto Bluff’s 20,000-acre property includes:
- Nature trails
- A food and beverage program
- Forbes’ Five-Star Montage Palmetto Bluff resort
- A Jack Nicklaus Signature golf course
The property also includes two village centers with river access, boat storage and canoe club.
For residential purchases, it offers an array of southern-style neighborhoods ranging from multimillion-dollar legacy family compounds to more traditionally sized, single-family lots.
Following the acquisition, both organizations will oversee all aspects of development and management of the single-family residential and resort community.
In addition, South Street Partners and Henderson Park plan to focus on the construction of Palmetto Bluff’s fourth neighborhood, Anson Village, which will open access to a large waterfront space and the southern Intercoastal Waterway.
Both organizations also expect to implement a comprehensive development plan for Palmetto Bluff, including the construction of a second golf club.
For more information, visit palmettobluff.com.
