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Thursday, August 2, 2012 - 8:30am

MetLife Buys Reynolds Plantation

Updated: 2 years ago.
MetLife executives say the company has completed its purchase of the upscale Reynolds Plantation golf resort on Lake Oconee. (photo courtesy oconee.org)

MetLife executives say the company has completed its purchase of the upscale Reynolds Plantation golf resort on Lake Oconee, which has struggled for months with its finances.

MetLife said in a statement Thursday that the deal includes The Ritz-Carlton Lodge, six championship golf courses, four full-service marinas and nearly 5,000 acres of undeveloped golf and waterfront property about 80 miles east of Atlanta.

A bank-appointed receiver was hired last year to operate the clubs and market the community and undeveloped land.

The New York-based insurance and financial services firm did not disclose financial details of the deal. MetLife says it has a real estate portfolio of more than $60 billion, which is one of the largest in the U.S.

The company said Birmingham, Ala.-based Daniel Corp. will oversee Reynolds Plantation.

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