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4-Traders Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  High Hampton Holdings Corp       CA42966X2005

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High Hampton : Inn property sold

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07/19/2017 | 09:28pm CEST

The historic High Hampton Inn and its related property changed ownership last month in two separate sales totaling $23.8 million. High Hampton Inc. sold the inn and its immediate property to High Hampton Resort, LLC for $11,650,000 and sold the remaining property to High Hampton Land, LLC for $12,156,500, a Jackson County Land Records Office spokesman said Monday. The combined sales, which include a total of more than 1,000 surrounding acres, closed June 30.

"Sale of the famed High Hampton Inn has concluded between the McKee family, Arlington Family Offices, and Daniel Communities," read a High Hampton news release emailed to the Chronicle Thursday. "Daniel Communities led the acquisition process on behalf of Arlington and its client families and will manage the historic property going forward. Acquisition of the iconic mountain resort which, the McKee family opened in 1922, included the historic inn and grounds, golf course and 1,050 acres of related hospitality and real estate assets."

High Hampton Inn President Will McKee, whose great-grandfather E.L. McKee purchased the property used as a hunting lodge by Wade Hampton III in the 1800s, issued a statement through the news release. "There is no deeper obligation Becky (McKee) and I have than to the health and success of High Hampton Inn," Will McKee said. "We know that for High Hampton Inn to thrive, it is time to entrust the property to new ownership who is properly capitalized and fully convicted to perpetuating the success of High Hampton Inn for generations to come."

High Hampton InnPresident McKee, continued, "We have not only high confidence in Daniel's expertise and vision for High Hampton Inn but also the financial support of Arlington and its client families who share the same values and vision for the future of High Hampton Inn."

The news release describes Birmingham, Alabama-based Daniel Communities as "one of the country's leading developers and managers of premier destination resort communities." It mentions that Daniels operates the upscale golf and lake resorts, Reynolds Lake Oconee and Ritz Carlton Lodge, which are near Eatonton, Georgia. Reynolds Lake Oconee was originally called Reynolds Plantation.

"Daniel is one of the most recognized and trusted names in real estate with a heritage that spans nearly 60 years," the release said.

"The McKee family has been faithful stewards of High Hampton Inn for three generations, and our vision is to honor and build upon the legacy," Daniel Communities President John Gunderson said in the release. "We plan to maintain continuity with what makes High Hampton special and work closely with all stakeholders to ensure we fully understand the priorities and opportunities to elevate the guest and homeowner experience for generations to come."

The Chronicle was unable by press time to reach Gunderson for specifics of what's planned for High Hampton or why the sale was split between two different purchasing entities.

"We are honored by the trust the McKee family has put in us," Arlington General Counsel Stephen Rowe said in the release. "High Hampton is a special asset and a unique opportunity for our client families. We look forward to carrying on the legacy of High Hampton but also to making important improvements that will allow High Hampton to succeed for the next 100 years."

Arlington Family Offices was founded in 1998 and has offices in Birmingham and Nashville. "Arlington provides investment, trust, tax, planning, record keeping and administration services to its clients," the release said. "It periodically acquires strategic real estate and business assets that offer legacy and value creation opportunities and align with the generational investment goals of its clients."

High Hampton Inn and Country Club are listed on the National Register of Historic Places and have for 95 years operated as a "rustic yet elegant" mountain inn overlooking the spectacular scenery of North Carolina's Blue Ridge Mountains. Amenities at this 3,600-foot elevation, 1,400-acre, 116-room resort (with lodge rooms, cottages and cabins, all with private bath) include a myriad of seasonal events (children's programs, llama walks, golf and tennis clinics), an 18-hole George W. Cobb-designed golf course, a full dining room with three sumptuous buffets daily, five tennis courts, spa, hiking trails and a 35-acre lake for swimming, boating, fishing, and other water-related activities.

The High Hampton Inn at 1525 N.C. Highway 107 South in Cashiers.

© Copyright © 2017 Crossroads Chronicle, Community Newspapers, Inc. All Rights Reserved., source Newspapers

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High Hampton Holdings Corp Technical Analysis Chart | CA42966X2005 | 4-Traders
Managers
NameTitle
Brendan Purdy President, Chief Executive Officer & Director
Rukie Liyanage Chief Financial Officer & Director
Krister Anders Kottmeier Director
Johnathan Dewdney Director
David Hutchinson Vice President-Communications
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