Spanish Wells SignWells Fargo Bank has foreclosed on the owner of Spanish Wells Golf & Country Club and taken control of the well-known Bonita Springs private club.

Colorado-based Escalante Golf had purchased the Spanish Wells club in 2011 for $4.55 million and had used Wells Fargo Bank to finance the acquisition. Escalante owns 15 similar properties including Tarpon Cove Yacht & Racquet Club located on the Cocohatchee River near Wiggins Pass in North Naples.  Escalante had been marketing both Spanish Wells Golf & Country Club and Tarpon Cove Yacht & Racquet Club as having reciprocal memberships in which members of both clubs had full access and use of both facilities.

Dallas-based Advance Golf, with ownership or investments in 11 different golf courses, will be managing the Spanish Wells club which features a  32,000-square-foot clubhouse, freestanding fitness center, swimming pool and tennis and bocce courts, as well as the 27-hole golf course.