MetLife announced today that it has completed its purchase of Reynolds Lake Oconee, Georgia’s premier golf and resort community located on Lake Oconee. The acquisition includes The Ritz-Carlton Reynolds, Lake Oconee, six championship golf courses, four full-service marinasand nearly 5,000 acres of undeveloped golf and waterfront property.
“We are extremely proud to own Reynolds Lake Oconee, a premier community with world-class amenities,” said Robert Merck, senior managing director and global head of real estate investments for MetLife. "Reynolds Lake Oconee is an exceptional addition to our real estate portfolio and we look forward to investing in Reynolds Lake Oconee’s future to ensure it continues to be recognized for the extraordinary lifestyle it offers.”
As previously announced, Daniel Corporation will oversee the day-to-day operations at Reynolds Lake Oconee. The Daniel team will work in cooperation with MetLife’s Atlanta Regional Office, led by Regional Director Tom Coakley. The Atlanta office manages the company’s real estate investments in the southeastern United States.
“Since announcing the acquisition in May, we have been working closely with members and the staff to ensure we fully understand the opportunities and priorities at Reynolds. As a result, and with the input and guidance from several stakeholders, we successfully established a new club, which has been well received by members and helps lay a strong foundation for future growth,” said Coakley.
“Over the past few months, we have had the opportunity to learn more about the great people and amenities that make Reynolds Lake Oconee a wonderful community,” said Charlie Tickle, chairman and CEO of Daniel Corporation. “We are looking forward to this opportunity to ensure that members continue to enjoy an outstanding quality of life at Reynolds while also enhancing the economic viability and sustainability of this great community.”
Reynolds Lake Oconee represents the latest addition to MetLife’s portfolio of real estate investments in Atlanta and the southeastern United States. Other properties include Georgia Pacific Center, Georgia 400 Center, Rocca Apartments and 12th & Midtown.
About Reynolds Lake Oconee
Reynolds Lake Oconee, 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 Lake Oconee is also home to The Ritz-Carlton Reynolds, Lake Oconee, 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, visitwww.reynoldslakeoconee.comwww.reynoldslakeoconee.com.
About MetLife
Metropolitan Life Insurance Company (MetLife) is a subsidiary of MetLife, Inc., a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers. Through its real estate investments department, MetLife oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the U.S. and consists of real estate equities, commercial mortgages and agricultural mortgages. MetLife is a global leader in real estate investment and real estate asset management, with a vast network of regional offices that keep in close contact with major real estate markets. For more information, visit www.metlife.com/realestatewww.metlife.com/realestate.
About Daniel Corporation
Daniel Corporation is a nationally acclaimed developer based in the Southeast for nearly 50 years. Headquartered in Birmingham, Daniel’s Atlanta-based office has led the re-emergence of Midtown with MetLife & Daniel’s joint venture – 12th & Midtown. Daniel’s portfolio of high-end golf and resort communities spans more than 20 years. Daniel’s newest community of Ross Bridge is home to the four-star Renaissance Resort and Spa and the championship Robert Trent Jones golf course and was recognized as Best Community in America by the National Home Builders Association. Daniel also has development and management experience at Greystone Golf & Country Club in Birmingham and Colony at the Grand: Lakewood Golf Club in Fairhope, Ala. Both Ross Bridge and Greystone have hosted PGA Champions Tour events. For more information, visit www.danielcorp.comwww.danielcorp.com.
This press release may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of MetLife, Inc., its subsidiaries and affiliates. These statements are based on current expectations and the current economic environment. They involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified in MetLife, Inc.’s most recent Annual Report on Form 10-K (the “Annual Report”) filed with the U.S. Securities and Exchange Commission (the “SEC”), Quarterly Reports on Form 10-Q filed by MetLife, Inc. with the SEC after the date of the Annual Report under the captions “Note Regarding Forward-Looking Statements” and “Risk Factors,” and other filings MetLife, Inc. makes with the SEC. MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if we later become aware that such statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes on related subjects in reports to the SEC.
Contact:
MetLife
Christopher Breslin, 212-578-8824
