Stockton University has sold for $21.07 million a golf resort hotel it purchased 8 years ago for student housing.

The university paid $20 million to acquire the Stockton Seaview Hotel & Golf Club in 2010 and sunk $22 million into improving the 104-year-old building, which was home to about 200 students per year.

However, Stockton said the renovations were more than offset by $28 million in tuition, fees, room and board from students who enjoyed perks -- from room service and free laundry to flat-screen televisions -- far beyond the typical college board experience.

Stockton is opening a new campus in September in Atlantic City, with beachfront housing for 533 students -- an upgrade that it said negated the need for the hotel golf resort.

"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.

The university's Board of Trustees had approved selling the building in April and the agreement with Florida-based KDG Capital LLC was finalized Tuesday and announced Wednesday.

Stockton said the name of the hotel golf club will remain unchanged and its management by Wyndham will continue, along with its two, 18-hole golf courses and an annual women's professional golf tournament.

Even while the building was in use as a Stockton dorm, in separate quarters it hosted pro golfers, rock stars and other influential figures.

Rob Jennings may be reached at rjennings@njadvancemedia.com. Follow him on Twitter @RobJenningsNJ. Find NJ.com on Facebook.