Breaking News: Reynolds Plantation on Lake Oconee SOLD! to Met Life
MetLife executives say the company has completed its purchase of the acclaimed Reynolds Plantation on Lake Oconee.
The deal includes the Ritz Carlton Lodge, six golf courses, four full-service Marinas, the Lake Club and world-class tennis center, plus 5,000 acres of undeveloped land. The price was not disclosed. The new owning entity is called Oconee Golf Club (OCG), and Birmingham, AL, nased Daniels Corporation has been hired to oversee the asset.
Prior to the sale closing, property owners were given the chance to enroll in the new Club operated by OCG at a comparable membership level without payment of a new initiation fee. Word on the street is that most existing property owners embraced the new owners and Club plans with open arms.
The Reynolds Plantation communities are a significant factor in local real estate sales, with more than $50 million dollars closed year to date according to the statistics compiled by the Lake Country Board of Realtors - about 45% of the total value sold. With the cloud of receivership listed and the amenities in the hands of financially strong owners with a powerful incentive to maximize the value of their new 5,000 acres of land, the future looks bright indeed for Reynolds Plantation at Lake Oconee.
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