The posh golf community of Reynolds Plantation in Greensboro, Georgia is being bought by MetLife.
The Atlanta Journal-Constitution reported that the agreement includes six golf courses, four marinas, nearly 5,000 acres of undeveloped land and the Ritz-Carlton Lodge at Lake Oconee. The community is about 80 miles east of downtown Atlanta.
MetLife said Birmingham, Ala.-based Daniel Corp. will oversee Reynolds Plantation.
In February 2011, the in-debt Reynolds Plantation developer offered to sell the members the community’s public areas for $45 million. The members declined and a bank-appointed receiver was hired last year to operate the clubs.
Was this article valuable?
Here are more articles you may enjoy.
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples 
Howden-Driven Talent War Has Cost Brown & Brown $23M in Revenue, CEO Says 
Former Ole Miss Standout Player Convicted in $194M Medicare, CHAMPVA Fraud From This Issue
