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Amelia Island Gets New Majority Owner

FERNANDINA BEACH, FL-Redquartz Development is paying $60 million for 51% of the resort.

By Carl Cronan | Updated on January 22, 2009

(Carl Cronan is editor of Real Estate Florida.)

FERNANDINA BEACH, FL-An Irish developer has acquired a 51% majority stake in Amelia Island Plantation, with plans for millions of dollars worth of improvements. Redquartz Developments Atlanta, an affiliate of Dublin-based Redquartz Developments Ltd., is expected to invest $60 million in the 1,350-acre local resort over the next 18 months.

The family of Richard L. Cooper, which has owned Amelia Island since 1978, retains 49% ownership of the resort. Although the patriarch died in December at age 82, discussions between Redquartz and the Amelia Island Co. had been under way for many months.

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