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.
Air Taxi Service Across Parts of Florida Moving Closer to Reality 
Tropical Storm Watches Posted Across Florida’s Panhandle Region 
Q2 Net Income at Travelers Soars 46% on Less Catastrophes, Favorable Reserves 
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success From This Issue
