Arendale Holdings Signs Contract For Buyout of The Cliffs Communities

TRAVELERS REST, S.C. - Dec. 27, 2013 - PRLog -- TRAVELERS REST, SC – Jacksonville, FL-based Arendale Holdings announced today that it has closed the transaction to acquire the shareholder interests of SunTx Urbana and The Carlile Group led by Steve and Penny Carlile to become the sole owner and manager of The Cliffs Communities.

With the acquisition, Arendale and its affiliates will control and manage all real estate development and sales functions, as well as club operations for The Cliffs Communities at Mountain Park, Valley, Glassy, Keowee Springs, Keowee Falls, Keowee Vineyards, Walnut Cove and High Carolina.

“Arendale Holdings continues to be excited about its investment in The Cliffs Communities and our increased financial commitment, we believe, demonstrates our confidence in the long-term strength of these fine communities throughout the Carolinas,” said Arendale Vice President Robert Wright. “With 70 new homes now under construction and the recent completion of the Gary Player Championship Golf Course at Mountain Park, we believe The Cliffs is poised for a vibrant future for its residents, club members and employees.”

Arendale Holdings is a premier diversified real estate investment and development company that invests in real estate and hospitality assets throughout the United States. In its 40-year history, Arendale has developed residential, commercial, resort, and golf course projects. The company provides investment and management support to more than 35 real estate partnerships and club operations in six states.