Real Estate

Justin And Hailey Bieber’s South Carolina Wedding Venue Makes Real Estate History

Justin and Hailey Bieber (née Baldwin) first married at a New York City courthouse in 2019. Their second wedding — a splashy and celebrity-filled main event that reportedly cost $500,000 — took place at South Carolina’s Palmetto Bluff Montage hotel. The wedding location grabbed the spotlight in 2019 and is a celebrity favorite; Angie Harmon owns a home in the community; and NFL No. 1 overall draft pick Trevor Lawrence tied the knot at the Bluffton, S.C., resort in April. Moreover, Forbes named the resort one of five luxury resorts that might save your marriage in 2018. 

Now, the 20,000-acre Palmetto Bluff development is making headlines for another reason. South Street Partners, one of the largest master-planned community developers in the Southeast, and London-based Henderson Park Capital Partners, a private equity real estate manager, acquired the property earlier this month in the largest transaction in South Carolina history, according to public records. 

Surrounded by 32 miles of riverfront and situated between Hilton Head, S.C., and Savannah, Georgia, Palmetto Bluff is one of the largest contiguous waterfront properties on the East Coast. 


Nick Weber, a founding partner of Henderson Park, says 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. 

“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,” Weber adds. 

Patrick Melton, a managing partner at South Street Partners, says the joint-venture is a generational buy that aligns perfectly with the firm’s other assets.

“Palmetto Bluff is a high quality, best in class property, which fits seamlessly within our portfolio. The synergies are everywhere,” Melton says.

Palmetto Bluff sits in South Carolina’s Lowcountry. The development offers more than 22 miles of trails for exploring and discovery, allowing adventurous outdoor enthusiasts to bike, jog, hike or ride on horseback. In addition, the property features an extensive nature preserve and two picturesque village centers with Southern-inspired shopping and dining options. 

Water lovers canoe, kayak or swim in the May River, enjoy the riverfront marina or tee-off at the Jack Nicklaus Signature Course, which weaves through the property and along the river banks.

Palmetto Bluff is home to several sporting clubs and features an inland water trail system that hugs the coast and allows for an on-shore fishing experience or an off-shore adventure in deeper waters. 

In addition to the resort options, the development has an array of residential neighborhoods ranging from multi-million-dollar family compounds to traditional single-family lots and homes. What’s on the market? Well, 153 Hunting Lodge Road is on the market for $1.5 million and features four bedrooms and four bathrooms and 3,465 square feet, and 32 Gilded St. has 4,787 square feet and is listed for $3.4 million with five bedrooms and five bathrooms. In addition, 401 Old Palmetto Bluff Road is on the market with five bedrooms and four bathrooms and 7,708 square feet for $5.9 million. For more listings, visit Palmetto Bluff.

In June 2021, available real estate options totaled 18 and included: five lots offered by Palmetto Bluff Real Estate Company; five resale homesites, lots being sold by current owners; and eight single-family homes for sale. Housing demand is skyrocketing. Current available inventory is 1.4 percent. In June 2020, there were 107 total developer and resale lots and residential homes available. 

W. Bryan Byrne, broker in charge for Palmetto Bluff Real Estate Company, says, “Having been part of Palmetto Bluff’s initial launch team, I have been involved with over $1 billion in real estate transactions within Palmetto Bluff, and it is really exciting that South Street Partners is hitting the ground and bringing new inventory to the market along with their strong focus on conservation.”

South Street Partners and Henderson Park plan to add a second golf club and build Anson Village, which will open up access to a large waterfront space and the southern Intercoastal Waterway.


Source link

Related Articles

Back to top button