ATLANTA, GA, May 10, 2012 – MetLife announced today that it has entered into an agreement to purchase Georgia's premier golf and resort community, Reynolds Plantation (top centered photo), located on Lake Oconee, 70 miles east of Atlanta.
The acquisition will include The Ritz-Carlton Lodge, six championship golf courses, four full-service marinas and nearly 5,000 acres of undeveloped golf and waterfront property. The transaction is anticipated to close during the summer, subject to customary closing conditions. Terms were not disclosed.
"Reynolds Plantation is an exceptional development, and we're excited about the opportunity to become the new owner," said Robert Merck (middle right photo), senior managing director and head of real estate investments for MetLife.
"This is a premier community with world-class amenities, a great reputation and a strong future. MetLife has been a real estate investor for over a century, and this transaction represents an outstanding investment opportunity for us."
MetLife is engaging Daniel Corporation to oversee all day-to-day operations at Reynolds Plantation. The Daniel team will work in cooperation with MetLife's Atlanta Regional Office, headed up by Regional Director Tom Coakley. The Atlanta office manages the company's real estate investments in the southeastern United States.
For more information on Reynolds Plantation, please visit www.reynoldsplantation.com.
For a complete copy of the company’s news release, please contact:
Christopher Breslin
MetLife (212) 578-8824
Rachel Tobin
Jackson Spalding (404) 724-2501
Traci Buch
Jackson Spalding (404) 214-3596
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