The buyer plans to keep the club open and invest another $1million in renovations that will include adding a casual diningrestaurant in the 30,000-sf clubhouse, retail brokers familiar withthe troubled property at 3060 Players Point tell GlobeSt.com.Longwood is about seven miles north of Downtown Orlando.

Heading the investor group that will manage and oversee theclub's operations are John Ritenour, a local insurance companyexecutive; Stanley Sandefur and Ed Postal, both residents of theAlaqua community where homes are in the $600,000 to $3-millionrange.

The mortgage company foreclosed on the property in January afterthe club was unable to meet its monthly debt obligations. Membershad purchased the club in the early 1990s from the developer,Westbury Alaqua, but never could put it on a break-even financialfooting, according to court records.