South Street Partners Expands Its Multi-Billion Dollar Portfolio with the Acquisition of Crystal Springs Resort, nestled alongside the Appalachian Mountains in Sussex County, New Jersey

South Street Partners ("South Street"), a private equity real estate investment firm headquartered in Charlotte, NC and Charleston, SC acquired Crystal Springs Resort ("Crystal Springs", the "Property" or the "Resort")  located in Sussex County, New Jersey from the founding  families that have owned and operated the Property since its inception in 1995. The acquisition is a perfect complement to South Street's existing hospitality portfolio of exceptional assets located in high-growth, drive-to destinations proximate to large metropolitan areas.

Crystal Springs spans over 1,400 acres and is one of the Northeast's most renowned all-season resorts. Two hotels, six championship golf courses, including Ballyowen which is continually ranked as the top public golf course in New Jersey by Golfweek, ten exceptional dining venues, including Wine Spectator's Grand Award-Winning Restaurant Latour, a world-class wine cellar, and 100,000 square-feet of meeting and event space are located across the Property. Resort guests and club members also enjoy a 30,000 square-foot sports and fitness center, nine indoor and outdoor pools, a roster of incomparable amenities, and exciting outdoor activities within a landscape of breathtaking beauty. Located an hour from Manhattan, the Property is the closest resort to New York City, the country's most populous city. The Property is also near four major airports.

Crystal Springs Resort is a remarkable asset that enhances our firm's portfolio of properties. The Resort embodies our commitment to well-located, quality real estate, with a strong emphasis on exceptional staff, services, and amenities. We are excited to welcome this iconic Resort as our first New York metropolitan area property in our portfolio.

Chris Randolph, Managing Partner at South Street Partners

Sussex County is a destination of incredible beauty, and the Property is home to the prestigious New Jersey Food and Wine Festival, showcasing some of the finest Michelin Star chefs and winemakers in the world. Those seeking one of the state's most beautiful regions will be drawn to this location, which offers spectacular Appalachian landscapes, a charming historic small-town ambiance, 500-million-year-old geological formations, and the Northeast's foremost luxury golf experience. With approximately 14M people living within 50 miles, 29M within 100 miles, and 50M within 200 miles, this location is ideal for guests seeking a rural setting near major metropolitan areas.