American Financial Group has agreed to sell South Carolina based Charleston Harbor Resort & Marina.
The agreements is subject to customary representations, warranties and closing conditions and has a 60-day due diligence period.
The transaction is set to close in the second or third quarter of 2025 with AFG expecting to recognise a net, after-tax gain of around $100 million on the sale.
Charleston Harbor includes two full-service hotels, a 459-slip marina, a full-service restaurant, retail store and other resort amenities.
AFG first purchased what became known as Charleston Harbor Resort & Marina in 2002 and has made significant improvements since that time, including construction of The Beach Club, a luxury waterfront resort.
American Financial Group is an insurance holding company, based in Cincinnati, Ohio.
Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialised commercial products for businesses.
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company.
