Wyndham Vacation Ownership Debuts on Popular Lake Marion in South Carolina
Company Purchases Multiple Units and Plans Expansion in Santee
ORLANDO, Fla. (Jan. 9, 2008) - Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies (NYSE: WYN), today announced the acquisition of 33 vacation ownership units at the lakefront Ballards Pointe master planned community in Santee, S.C. from Ballards Pointe III, LLC. Wyndham Vacation Ownership also entered into a contractual agreement to purchase 78 additional units in two future phases, anticipated to occur through early 2009. Terms of the deal were not disclosed.
Scheduled to operate under the company’s FairShare Plus by Wyndham exchange portfolio, this acquisition marks the company’s sixth resort in South Carolina, complementing its properties in Myrtle Beach and Edisto Beach.
“Santee may be one of the best-kept secrets in South Carolina,” said Franz Hanning, president & CEO, Wyndham Vacation Ownership. “Whether our owners are seeking an outdoor adventure or a vacation spent exploring the beauty and charm of the South, they can find it all at this new property. With spectacular lake views and a location near some of South Carolina’s most popular cities, our owners are going to enjoy the vacation possibilities offered by this new resort.”
Centrally located near I-95 with convenient access to such day-trip destinations as Myrtle Beach, Hilton Head, Charleston and Columbia, Santee is a year-round destination with championship golf courses, hiking trails, state parks and shops. The area is most widely known for Lake Marion, a beautiful lake popular for its water activities, including fishing, boating, swimming and water skiing.
When complete in 2009, the property will feature a mix of well-appointed two- and three-bedroom units as well as three-bedroom Presidential units. Each fully furnished unit will feature spacious interiors, a full kitchen, dining area, garden tub and washer and dryer. The units offer pristine views of land protected as a national park. Located directly on Lake Marion, the resort will feature a clubhouse, swimming pool, tennis courts and boat slips.
The Shuler Group of Orangeburg, S.C. developed the project. Ballards Pointe III is the third and final phase of The Shuler Group’s Ballards Pointe Development. The Shuler Group is a full-service real estate development and venture management firm based in Orangeburg, S.C.