The Cliffs continues real estate growth with $186 million in sales in 2019
February 4, 2020
Private residential mountain and lake club communities thrive under new ownership by South Street Partners
The Cliffs announced that global real estate sales by The Cliffs, which includes Cliffs Realty and Walnut Cove Realty, totaled $186 million in 2019 with a total of 283 transactions closed among its seven communities. This compares to $171 million in global sales in 2018 with 271 transactions closed, representing a 9 percent increase in sales volume. The Cliffs continues to thrive with 1781 completed homes and 140 homes currently under construction. Club membership has grown to a total of more than 3,000 member families which includes more than 200 memberships sold in 2019.
“We were pleased to finish 2019 strong with continued sales growth across our seven communities,” said Rob Duckett, president of The Cliffs. “This momentum positions The Cliffs for an exciting year ahead as we continue to invest in our communities, members and internal team. We also congratulate our top producers as we look forward to another great year at The Cliffs.”
The Cliffs’ top sales producers for 2019 include the following:
- Justin Coleman led sales in the Lake Region with 23 sales for a total of $17,336,500.
- Garry Patton was the top producer in the Mountain Region with 21 sales for a total of $11,101,400.
- Josh Smith led the way in the Asheville Region with 21 sales for a total of $19,047,301.
In February 2019, The Cliffs was acquired by South Street Partners, one of the largest developers and operators of luxury residential private club communities in the U.S. and master developer of Kiawah Island. In addition to experiencing significant sales growth, South Street made a series of club investments over the past year including breaking ground on The Cliffs at Keowee Vineyards Lakehouse, releasing 26 premium lakefront homesites at The Landing at The Cliffs at Keowee Springs, and announcing plans for the Keowee Springs clubhouse as well as extensive new club amenities at The Landing.
In October, The Cliffs announced the launch of a new internal homebuilding program, Cliffs Builders, which broke ground on its first home within The Meadows neighborhood at The Cliffs at Walnut Cove. The homebuilding program is modeled after a successful program implemented by South Street at Kiawah Island and is expected to release new homesites later this year. Potential buyers can choose from a range of options, from turn-key cottages clustered around amenities to higher-end spec homes with a variety of options including unique floorplans and interior packages.
To learn more about real estate opportunities at The Cliffs, visit cliffsliving.com/real-estate.
