American Financial Group, Inc. (AFG) has announced the termination of agreements concerning the sale of Charleston Harbor Resort & Marina in Charleston, South Carolina. The marina will remain under AFG ownership as the company continues to evaluate strategic alternatives for the property.
On 6 June 2025, the previously disclosed agreements to sell both the marina and related resort assets were no longer in effect. The agreements, first announced on 31 March 2025, included a 60-day due diligence period allowing either purchaser to terminate the deal. Following the conclusion of the period, the sale will not proceed.
Charleston Harbor Marina is located on the banks of the Cooper River near Shem Creek. The marina offers 459 slips for vessels ranging from 10 to 20-metres (33 to 66 feet), with additional boat lifts capable of accommodating vessels up to 9-metres (31-feet) in length. The marina also features over 5,182-metres (17,000-feet) of floating dockage and has the capacity to berth yachts up to 37-metres (120-feet).
In addition to the marina, Charleston Harbor encompasses two full-service hotels, a restaurant, retail spaces and other resort amenities. AFG acquired the property in 2002 and has since undertaken several infrastructure upgrades, including the construction of The Beach Club, a waterfront hotel within the resort complex.
At the time of the initial announcement, AFG stated it expected to recognise a net, after-tax gain of approximately $100 million USD ($1.20 per share) from the sale, subject to the completion of closing conditions. With the transaction no longer moving forward, the financial expectations will no longer apply in the immediate term. AFG has indicated it will continue to evaluate strategic alternatives for the property.
Headquartered in Cincinnati, Ohio, AFG operates as an insurance holding company through the Great American Insurance Group, which focuses on specialised property and casualty insurance products for businesses.
