South Street Partners, TPG JV acquire beach and golf resort on St. Simons Island

South Street Partners and TPG Real Estate announced that they have formed a joint venture to acquire The King and Prince Beach & Golf Resort, the largest beachfront resort in coastal Georgia’s Golden Isles.

South Street and TPG Real Estate are acquiring the resort and golf club from MMI Hospitality Group, a Mississippi-based, family-owned and operated private investment partnership focused on service industry businesses, who initially invested in the property nearly 45 years ago. The King and Prince will continue to be operated by MMI Hotel Group’s management division. The joint venture will focus on elevating the resort and club offerings, with plans for a comprehensive renovation to rooms and common spaces. This capitalization is the latest investment by South Street's inaugural SSP GP Fund I.

Breakwater, a Charleston, S.C.-based hospitality investment, development and advisory firm served as the exclusive agent to the seller.

Located on St. Simons Isl