Deal to sell Charleston Harbor Resort and Marina terminated

MOUNT PLEASANT, S.C. (WCBD) – A deal to sell a local waterfront resort and marina was terminated last week, owners said Tuesday.

Agreements reached to sell Charleston Harbor Resort & Marina, which sits next to the Patriots Point Naval & Maritime Museum, to an unidentified buyer were killed on June 6.

American Financial Group, an Ohio-based holding company, currently owns the property.

Since acquiring in 2002, AFG has made improvements, including constructing The Beach Club, a luxury waterfront hotel with 92 guest rooms.

American Financial was set to net $100 million after tax from the sale, which would have included two full-service hotels, a 459-slip marina, a full-service restaurant, a retail store, and additional amenities.

The company said they are continuing “to evaluate strategic alternatives for the property.”