Stockton University Sells Seaview Hotel & Golf Club

GALLOWAY TOWNSHIP, NJ - Stockton University has sold the Stockton Seaview Hotel & Golf Club to Florida based KDG Capital LLC for $21,070,000.

The University's Board of Trustees approved the sale in April. It was completed on July 31, according to the University's Facebook page.

“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.

KDG partner Greg Ogle said the property would keep the name Seaview Hotel & Golf Club. The hotel will still be managed by Dolce Hotels and Resorts by Wyndham. Troon will continue to operate the two 18-hole golf courses.

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

Future plans include the renovation of rooms and public spaces said Bob Nelson, Seaview's general manager.

“We are grateful to Stockton University for elevating Seaview under the Dolce brand, and we’ll continue to further enhance the hotel as a destination for travelers near and far,” Nelson said.

Stockton purchased the 104-year-old property for $20 million in 2010 for student housing. Building new student housing was not financially possible at the time.

The university funneled $22 million in capital improvements to Seaview since 2010, and generated $28 million revenue from tuition, fees, room and board paid by students who lived there.

Galloway Township Mayor Anthony J. Coppola, Jr. lauded the investments Stockton made in the property when the sale was announced back in April. He pledged to work with the new owner.

"Stockton stepped up in 2010 and we appreciate that," he said. "This is a flagship property in the township and we want it to flourish."

The beachfront housing for 533 students at the new Atlantic City campus, which opens in September, has eliminated the need for student housing at Seaview.

Seaview will continue to host the LPGA under the existing sponsorship agreement that extended the tournament to 2023. The University assigned the LPGA sponsorship agreement to the buyer.

Photo: Provided By Stockton University