The Cloister Ocean Residences Achieve Record Sales in 2017 with $24 Million in Luxury Shared Ownerships

SEA ISLAND, Ga., Feb. 22, 2018 /PRNewswire/ -- The Cloister Ocean Residences has sold more than $45 million in luxury, shared ownership real estate since summer 2015, including a record $24 million in 2017. The oceanfront development, located on the exclusive Southern coastal resort of Sea Island, touts inclusion of the coveted Sea Island Club membership, its ideal location, spacious floor plans and an expansive array of amenities and services. The gated community is now sold out of developer inventory and only a few re-sales are available.

Randy Burgess, Project Director for The Cloister Ocean Residences, attributed much of the project's sales success to "repeat Sea Island guests recognizing our incredible value, convenience and carefree lifestyle. Existing owners also purchased additional ownerships as a legacy for their grown children and grandchildren and a robust re-sale market was established."

The Cloister Ocean Residences are one of several real estate opportunities at Sea Island, where sales continue to be strong and increasing in recent years. In 2017, more than $180 million in sales were made by Sea Island Properties, up 38% over the prior year.

About The Cloister Ocean Residences

The Cloister Ocean Residences are a short walk or bike ride to The Cloister, the Beach Club, the Spa at Sea Island, the Fitness and Tennis Centers, close to dining and pools. The residences are sold in deeded quarter-ownerships, providing 13 weeks of rotating annual access? one week each month, each year. The 22 fully-furnished and equipped one-, two- and three-bedroom residences range from 1,104 to 3,102 square feet and current re-sale listings range from $425,000 to $1.3 million per quarter ownership.

About Sea Island

Since 1928, Sea Island has been known as an exceptional destination appealing to those who appreciate gracious service and heartfelt hospitality. With four Forbes Five-Star experiences ? The Cloister at Sea Island, The Lodge at Sea Island, The Spa at Sea Island, and the Georgian Room restaurant ? Sea Island entices families, outdoor and activity enthusiasts, and those simply wanting to refresh and recharge. It is the only resort in the world to have received four Forbes Five-Star awards for ten consecutive years. Site of a G-8 Summit of world leaders, Sea Island provides exceptional settings and service for conferences and executive retreats. Located on the southeastern coast of Georgia, Sea Island features five miles of private beach, a Beach Club, tennis and squash centers, Yacht Club, Shooting School, and Camp Cloister. Sea Island is steeped in golf tradition and is home to three championship golf courses, including Seaside and Plantation, home of the PGA TOUR's RSM Classic, as well as the nation's finest Golf Performance Center. Located on St. Simons Island, The Inn at Sea Island offers comfortable, casual accommodations with access to many Sea Island amenities. Guests may also enjoy nearby Broadfield, a Sea Island Sporting Club and Lodge, offering a variety of seasonal hunting, fishing, sporting and organic culinary opportunities.

Those seeking adventures in the spirit of the American west may choose to visit The Broadmoor, the other member of the Sea Island family. Opened in 1918 and situated at the gateway to the Colorado Rocky Mountains in Colorado Springs, The Broadmoor is the longest consecutive winner of the Forbes Five-Star and AAA Five-Diamond awards. Like Sea Island, the resort offers guests a unique way to experience one of the country's most beautiful settings, and is known for its history, tradition, and service excellence.

SOURCE Sea Island