Lake Oconee News – MetLife to Buy Reynolds Plantation


Just announced, big news for Lake Oconee!  MetLife plans to buy Reynolds Plantation. Below is the press release.

PRESS RELEASE

May 9, 2012, 6:01 p.m. EDT

MetLife to Purchase Reynolds Plantation

ATLANTA, May 09, 2012 (BUSINESS WIRE) — MetLife announced today that it has entered into an agreement to purchase Georgia’s premier golf and resort community, Reynolds Plantation, 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, 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.

The collaboration between MetLife and Daniel represents a continuation of a 25-year relationship between the two companies. Their projects include joint venture ownership of 12th & Midtown, a multi-block development along Atlanta’s storied Peachtree Street, which includes the 717,000-square foot 1075 Peachtree office tower and the Loews Atlanta Hotel.

“The team at Daniel is looking forward to working with MetLife to enhance Reynolds Plantation and position it for future generations,” said Charlie Tickle, chairman and CEO of Daniel Corporation. “We will bring a business approach to the operations to enhance the economic viability and sustainability of Reynolds Plantation, which is key to preserving and improving property values and attracting new residents and members.”

Ritz-Carlton will continue to manage the hotel under its long-term management agreement.

MetLife has a long history of investing in real estate in Atlanta and the southeastern United States. The company’s current investments — in addition to 12th & Midtown — include Georgia Pacific Center, Georgia 400 Center and Rocca Apartments.

About Reynolds Plantation

Reynolds Plantation, located between Atlanta and Augusta, Ga., is situated along more than 374 miles of Lake Oconee shoreline and features six championship golf courses, dining, swimming pools, pedestrian trails, marinas, a tennis center and a wellness campus. Reynolds Plantation is also home to The Ritz-Carlton Lodge, a 251-room lakefront resort and spa, which was named as a 2012 AAA Five Diamond Lodging and 2011 Forbes Four-Star resort. The community is located about an hour and a half from Atlanta’s Hartsfield-Jackson International Airport. For more information, visit http://www.reynoldsplantation.com .

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About Look@LakeOconee

Suzie and Jim Hudson, A Unique Team Suzie and Jim Hudson have long been known in the Lake Oconee Area as trustworthy people who like to give back to the community; Jim as a previous banker, and Suzie as a teacher. Jim's past experience as president of a local bank makes him well suited to negotiating and preparing contracts for home buying and selling. After residing in Atlanta for 20 years, the Hudsons moved their family to the Lake Oconee area in 1990. Having grown up in the local town of Eatonton, Jim has an insightful knowledge of the past and present development of the area. He has served on the Greene County Development Authority for many years, making sure that the local area is developed to its full potential. Real Estate Specialty Designations Jim earned the realtor designation of SFR: Short Sales. Foreclosure Resource which makes him well suited to navigate the current economic environment. On entering the Real Estate field, Suzie followed her eye for design to become certified by Property Staging Consultants in the new field of home staging. Present Status Jim and Suzie first settled in to a historic home in Greensboro and enjoyed the small town life. Jim and Suzie now live in a gated community and enjoy the pasttime of golf. Jim has created guidelines evaluating the various features of all the local golf courses from his personal experience playing them to help the prospective buyer choose the golf experience that best fits his/her game. Full Service, Internet REALTORS Jim and Suzie Hudson were among the first local realtors to use the power of the Internet with LakeOconee.com Realty to reach home buyers across the nation. They continue to be at the forefront of Internet real estate sales. Their new blog is Look@LakeOconee, which focuses on real estate, staging, and the Lake Oconee lifestyle. The Hudsons joined the RE/MAX company in 2011 and now have a world-wide reach for new buyers and sellers. Relationship with customers does not end at closing. Jim and Suzie have made customer service a cornerstone of their real estate business, often fielding and monitoring home repairs for absent home owners who have purchased second homes at Lake Oconee, or who are selling a home here. Staging to sell is complimentary for homes that they list, and they advise sellers to complete deferred home repairs before placing their home on the market.

Posted on May 9, 2012, in Uncategorized and tagged , , , . Bookmark the permalink. Leave a comment.

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