To: Reynolds Plantation Property Owners
Re: New Ownership of Reynolds Plantation
We’re pleased to inform you that MetLife has entered into an agreement topurchase Reynolds Plantation. The acquisition will include The Ritz-CarltonLodge, the golf courses, the clubhouses, the marinas, and about 5,000 acres ofundeveloped property. The transaction is expected to close this summer, subjectto customary closing conditions.
MetLife, which has a 50-year history ofinvesting in real estate in Atlanta and the Southeast, is engaging DanielCorporation, a Southeast development firm with offices in Birmingham andAtlanta, to oversee the day-to-day operations at Reynolds Plantation. The team at Daniel is looking forward to working with RabunNeal and other staff to enhance Reynolds Plantation and position it for futuregenerations. John Gunderson of Daniel Corporation will work in cooperation withMetLife’s Atlanta Regional Office, headed up by Regional Director Tom Coakley.
We know the past year has presented somechallenges. MetLife and Daniel’s vision is to enhance the economic viabilityand sustainability of Reynolds Plantation, which is key to preserving andimproving property values and attracting new residents and members.
We expect you will have questions. While many details are yet to be determined,we will be meeting with the Membership Plan Task Force, composed of ReynoldsPlantation members, to address the anticipated closing and will present a newplan to members soon.
Going forward, we will keep you informed through e-mails like this one,resident/member meetings and other forums as needed. Attached, you’ll find thenews release about the agreement to purchase Reynolds Plantation, which wasjust distributed. You can find background on MetLife and Daniel atmetlife.com/real estate and danielcorp.com, respectively.
We are all committed to working toward a smooth transition, and we appreciateyour support as we look to usher in a new chapter for this beautiful communityyou call home.
Tom Coakley MetLife Real Estate Investments
John Gunderson Daniel Corp.
Andrew Bolnick Court-Appointed Receiver