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.
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
Camp Mystic Seeks Bankruptcy to Settle Texas Flood Wrongful Death Claims 
NAIC Victim of Cyber Incident Via PeopleSoft System 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO From This Issue
