New Jersey golf resort sold for $21.07 million

A Florida-based investment company has purchased the Stockton Seaview Hotel & Golf Club in Galloway, N.J., for a reported $21.07 million.

It’s the second major acquisition this year for KDG Capital LLC. The company in February bought the Eagle Crest Resort, a 45-hole golf property in Redmond, Ore. The seller was Stockton University, which had used a portion of the resort hotel for student housing. School officials paid $20 million to buy the resort in 2010 and over the past eight years had invested $22 million in improvements to the main structure, which is more than 100 years old.

Troon will continue to operate the two golf courses, the Pines and the Bay, at the resort, which is home to the Shoprite LPGA Classic women’s tournament. The name of the resort, which will continue to be managed by Wyndham’s Dolce Hotels brand, will not be changed, officials said. “We are excited to be a part of this iconic resort’s future and to contribute positively to the Galloway community,” KDG Capital partner Greg Ogle said. The resort also includes an Elizabeth Arden Red Door Spa, indoor and outdoor pools, a fitness center and tennis courts. 

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