GALLOWAY TOWNSHIP — Stockton University has sold Seaview Resort to a Florida company for $21.07 million, the college announced Wednesday.

KDG Capital LLC will take over operations of the century-old golf course and hotel, according to an agreement of sale signed Tuesday.

“We are proud to have owned this iconic property and confident that the new owners appreciate the history of Seaview and will continue to improve it for future generations to enjoy,” Stockton President Harvey Kesselman said.

Stockton’s board of trustees approved the sale of Seaview in early April to an undisclosed buyer, saying the buyer would be revealed after closing. The college has owned the hotel and bay golf course since 2010, when it purchased it for $20 million as additional housing and academic space, and leased out commercial operations on the property.

KDG partner Greg Ogle said the property would keep the name Seaview Hotel & Golf Club and that the hotel would continue to be managed by Dolce International. Troon will continue to operate the two 18-hole golf courses, of which the Pines course is owned by Marriott.

“We are excited to be a part of this iconic resort’s future and to contribute positively to the Galloway community,” Ogle said.

Last week, Dolce International received approval from Galloway Township Council for a liquor license transfer from Stockton Affiliated Services.

A spokeswoman for Dolce and its parent company, Wyndham Hotels and Resorts Inc. of Parsippany, Morris County, said there are no plans for the hotel to leave the Dolce brand.

Seaview General Manager Bob Nelson said additional renovations of rooms and public spaces are part of future plans for property. The cost of renovation was one of the reasons Stockton said it decided to sell.

Since Stockton purchased Seaview, the university had invested $22.2 million in capital projects at the hotel, which has 296 rooms, 16 suites and several meeting areas. It has also generated $28 million in revenue from tuition, fees, room and board paid by students who lived there.

The resort off Route 9 includes an Elizabeth Arden Red Door Spa, indoor and outdoor pools, a fitness center with three tennis courts and a Noyes Museum satellite art gallery.

Seaview will continue to host the ShopRite LPGA Classic women’s golf tournament under the existing sponsorship agreement that extended the tournament to 2023. The university assigned the LPGA sponsorship agreement to the buyer.

Galloway Township Mayor Anthony J. Coppola Jr. said he was happy the sale was finalized and thanked Stockton for being great neighbors. Coppola said the township’s Economic Development Commission has been working with the buyer in recent months and will continue that relationship.

“It’s going to be great for our community. It’s encouraging to see people who are willing to see Galloway’s potential and are willing to make that investment in our community,” Coppola said, adding the Seaview is considered one of the township’s “flagship” properties.

In addition, the property will return to the township tax rolls. Coppola said Stockton had voluntarily entered into a payment-in-lieu-of-taxes agreement with the township in which the university paid last year $310,000, all of which went to the municipal budget. He said that based on the current valuation, the new owners would pay $126,000 in yearly taxes to be split between the municipal, county and school budgets.

Contact: 609-272-7251 CLowe@pressofac.com Twitter @clairelowe

Staff Writer

I began covering South Jersey in 2008 after graduating from Rowan University with a degree in journalism. I joined The Press in 2015. In 2013, I was awarded a NJPA award for feature writing as a reporter for The Current of Hamilton Township.

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