American Financial Group to Sell Charleston Harbor Resort & Marina

American Financial Group (AFG) has announced agreements to sell Charleston Harbor Resort & Marina, a property it has owned since 2002 and significantly developed over the years. The resort includes two hotels, a large marina with 459 slips, a restaurant, retail space, and other amenities. The sale agreements involve a 60-day due diligence period, and if conditions are met, the transaction is expected to close in the second or third quarter of 2025. AFG anticipates a net, after-tax gain of approximately $100 million ($1.20 per share) from the sale.

AFG, through its subsidiary Great American Insurance Group, focuses primarily on property and casualty insurance and has a long history dating back to 1872. The company also noted standard forward-looking statement disclaimers regarding potential risks that may affect the transaction and future financial performance.