New ownership, same carefree living at Reynolds Plantation in Georgia.
Few development communities in the United States rival Reynolds Plantation (reynoldsplantation.com) on Lake Oconee, in Greensboro, Georgia, in terms of sheer beauty and lifestyle. Situated on 10,000 acres and including six golf courses (featuring Nicklaus, Fazio, Jones, and Cupp designs), four marinas, a Ritz-Carlton hotel, and ample real estate opportunities, Reynolds Plantation, which is about 70 miles east of Atlanta, is a vacation mecca for some, a business opportunity for others seeking to pad their real estate portfolios.
Maybe that’s why it was so appealing to the nation’s largest life insurer, MetLife, which agreed to acquire the community in May from Linger Longer Development Company after it struggled under a heavy debt load too high to bear.
“This is a premier community with world-class amenities, a great reputation, and a strong future,” says Robert Merck, senior managing director and head of real estate investments for MetLife. “This transaction represents an outstanding investment opportunity for us.”
The new owner has brought on Daniel Corporation to oversee all day-to-day operations. The collaboration between MetLife and Daniel represents a continuation of a 25-year relationship between the two companies.
In addition to its golf courses and 251-room Ritz-Carlton hotel (which will remain operated by Ritz-Carlton after the acquisition closes some time this summer), Reynolds Plantation has 3,800 residences, some of which struggled to sell during the housing slump.
Single-family homes, cottages (tandem or attached), and home sites are available for purchase, with varying views (lake, woods, or golf course). Single-family homes are available starting around $300,000 for three bedrooms and two baths. Cottages start below $200,000, while home sites are listed starting at $40,000.
Reynolds Plantation also offers a long-term leasing program for those looking to rent instead of own. These can range from one month to one year or more, and some of the properties in this program have a membership available to borrow that can allow tenants the opportunity to obtain golf privileges while renting. reynoldsplantation.com.