The deal to sell the Charleston Harbor Resort & Marina, located next to the Patriots Point Naval & Maritime Museum in Mount Pleasant, was officially called off last week, the property owners announced on Tuesday.
The Terminated Sale
American Financial Group (AFG), an Ohio-based holding company, had reached an agreement to sell the waterfront resort and marina to an unidentified buyer. However, the sale was abruptly terminated on June 6. AFG, which has owned the property since 2002, was set to receive $100 million after taxes from the transaction.
Improvements and Features of the Resort
Since acquiring the property, AFG has made several key improvements, including the construction of The Beach Club, a luxury waterfront hotel featuring 92 guest rooms. The resort also boasts two full-service hotels, a 459-slip marina, a full-service restaurant, a retail store, and other amenities, making it a prime location in the Lowcountry.
Strategic Alternatives for the Property
Despite the termination of the sale, American Financial Group stated that they are continuing to evaluate strategic alternatives for the Charleston Harbor Resort & Marina. The company has not disclosed any specific plans for the property at this time.
The sudden termination of the sale of the Charleston Harbor Resort & Marina marks a shift in plans for the property, but AFG’s future plans remain open as they continue to explore strategic options for the iconic waterfront location.
