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The Cliffs emerges from bankruptcy; operates under Silver Sun Partners

STAFF REPORTS
Published on Tuesday, August 28, 2012

The Cliffs Communities announced today that the entities known as the Cliffs Club and Hospitality Group, Inc., have emerged from Chapter 11 bankruptcy proceedings under the ownership of Silver Sun Partners, LLC.

Formed as a partnership between The Carlile Group, a diversified company based in Marshall, Texas, Arendale Holdings, a real estate investment and development company specializing in residential communities and golf course operations, and SunTx Urbana, a real estate management and development company – Silver Sun Partners provides The Cliffs with the capital to deleverage, operate and improve a network of clubs and amenities.

Collectively, the partnership offers the professional management, club operations and real estate development experience needed to deliver a global solution that ensures a strong future.

"We want to express our sincere gratitude to the members, management team and employees who have helped shape the future direction of the clubs," said Steve Carlile, Board Member of Silver Sun Partners. "Your patience and cooperation throughout this challenging process has allowed us to reorganize in a way that positions The Cliffs to emerge as the preeminent luxury golf and wellness community in the country."

Effective immediately, Silver Sun Partners will begin club operations under the management of its subsidiary, Cliffs Club Partners, LLC, while leveraging real estate sales and marketing programs through another subsidiary, Cliffs Land Partners, LLC. The partnership has committed significant capital resources that will create immediate stability within the clubs while preserving and enhancing real estate values within The Cliffs Communities. Cliffs Club Partners is also planning continued amenity improvement and development, which was halted during bankruptcy proceedings.

 

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