Iron Lake, the spring-fed quarry that serves as the visual centerpiece of the course, now lends its name to the newly rebranded Club at Iron Lake.
Real Estate & Development
2026-02-035 min readFrom Quarry to Country Club to IronCrest: The $63 Million Sale of Ocala's Most Dramatic Golf Course
By Only In Ocala Staff
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A 1,300-acre property that has seen more plot twists than a Hollywood screenplay has changed hands once again in Marion County—and golfers may need to update their vocabulary.
The property you might know as Adena Golf & Country Club or Club Adena is getting yet another new name. Under new ownership, the golf club will now be called The Club at Iron Lake, while the surrounding residential community will be known as IronCrest.
If you're having trouble keeping track, here's the scorecard:
The new names draw inspiration from the property's most distinctive feature: Iron Lake, the spring-fed quarry lake that serves as the visual centerpiece of the course. The community name "IronCrest" references both the towering cliffs surrounding the quarry lakes and carries a clever double meaning—the golf iron and the horseback riding stirrup that's synonymous with Ocala's equestrian culture.
The transition is already underway. A recent job posting for a Director of Golf/Head Golf Professional lists the employer as "The Club at Iron Lake," signaling that the rebranding is official.
Oculus R Golf Partners recently purchased the sprawling 1,300-acre property for $63 million, according to deed records obtained by the Ocala StarBanner. The buyers, husband-and-wife team Craig and Elizabeth Phillips, are Ocala residents with deep ties to the local golf and equestrian communities. They're leading an investment partnership that includes both institutional and private investors with a long-term vision for developing this one-of-a-kind residential community.
The property sits just four miles from downtown Ocala and ten miles from the World Equestrian Center.
To understand this sale, you have to understand the vision of the man who built it.
Frank Stronach, the Canadian billionaire who founded auto parts giant Magna International, first purchased more than 1,200 acres from the Stavola family in 2008 for approximately $17 million. At the time, Stronach was already Marion County's largest private landowner, having amassed roughly 29,000 acres—surpassing even Disney World's local holdings.
The property contained several abandoned limestone quarries that had been mined for road construction material. Rather than seeing these pits as obstacles, Stronach's architects transformed them into the course's defining feature. Spring-fed quarry lakes now provide up to 80 feet of elevation change from tee to green on some holes—a dramatic rarity in Florida's notoriously flat landscape.
The club opened in 2015 to immediate acclaim. Golf Digest named it one of the Best New Courses in America. The 18-hole championship course stretches over 7,000 yards, with fairways lined by Spanish moss-draped oak trees and rugged limestone rock faces.
Stronach reportedly poured more than $50 million into constructing the facility, with some estimates of total investment reaching well over $100 million when including operations and improvements. The original vision called for 120 high-end homes along the course—intended to be the crown jewel of his Florida empire.
Then, in July 2018, members received a stunning message: the club had abruptly closed its doors.
A recorded message on the club's phone system stated simply that "the club officially closed its doors and is no longer open for business." A sign at the gate read "Club is closed." No explanation was given.
One member, writing on TripAdvisor, captured the shock: "We were notified on Wednesday, July 11, 2018 that Adena was closing their doors, effective immediately. No prelude, no hints of difficulty, no wind-down... What an immense loss this is to the world of fine dining and exquisite golf on an immaculate course."
Behind the scenes, a family dispute was tearing apart the Stronach business empire. What began as a disagreement over management of The Stronach Group—the family's horse racing, gaming, and agricultural holdings—escalated into a major lawsuit. Frank and his wife Elfriede were on one side; daughter Belinda, who had taken over leadership of the family company in 2013, was on the other.
The property sat in limbo for years as the legal battle played out.
The litigation was finally resolved in August 2020 when the parties reached a settlement that essentially divided the family empire. Under the agreement, Frank and Elfriede regained full control of the golf club, along with the Adena Farms cattle operations, horse breeding business, and certain agricultural assets. Belinda retained control of The Stronach Group's racing, gaming, and real estate businesses.
In November 2022, Stronach announced the club would reopen under his ownership—rebranded as "Club Adena." It gradually returned to operation, hosting golf groups and striking partnerships including a multi-year deal with the NXXT Women's Pro Tour for their year-end championship starting in 2024.
Stronach's other major Marion County operation—the Adena Farms beef processing facility near Fort McCoy—was sold separately. The 696-acre property, which Stronach developed for raising and processing grass-fed, hormone-free beef, was purchased by Fort McCoy Plant, LLC.
The buyer, Matt Rudnianyn, is a local cattle rancher who had worked with the Stronach operation previously. The T.J. Baldwin family of ranchers, longtime Marion County cattle operators, has also partnered in the venture. The new owners plan to continue custom beef processing while serving the growing market of consumers who want to know where their food comes from.
The Phillips family says they see enormous potential in the property's unique character and strategic location.
"We were drawn to this property because of the strong economic potential of the assets and the unique character of the land," Craig Phillips explained. "The club provides a great starting point, due to its high-quality golf course and expansive clubhouse and leisure facilities, but what really distinguishes the property is the setting itself."
Elizabeth Phillips, noting their family's equestrian background, expressed particular excitement about 355 acres within the Farmland Preservation Area.
"Our focus is on developing the club and community in a way that responds naturally to the land and reflects the character of Ocala," she said. "As an equestrian family, we are particularly excited about the potential of the 355 acres of the property within the Farmland Preservation Area and the opportunity to create a unique equestrian farm community."
The property's proximity to the World Equestrian Center—which opened its 248-room Equestrian Hotel in 2021 and 390-room Riding Academy Hotel in 2024—positions IronCrest to capitalize on Ocala's growing reputation as a world-class equestrian destination.
From limestone quarry to Adena Golf & Country Club to Club Adena to The Club at Iron Lake—this property has reinvented itself more times than most courses see in a century.
Iron Lake, the spring-fed centerpiece quarry, will continue to serve as the visual heart of the community—a reminder of the land's industrial past transformed into a scenic amenity unlike anything else in Central Florida.
And in a region known for horses and springs and rolling green hills, that might just be the most "Only in Ocala" story of all.
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The golf club is now called The Club at Iron Lake, while the surrounding residential community will be known as IronCrest. The names draw inspiration from Iron Lake, the dramatic spring-fed quarry that serves as the course's centerpiece.
Oculus R Golf Partners purchased the 1,300-acre property for $63 million in 2024, according to deed records obtained by the Ocala StarBanner.
The new owners are Craig and Elizabeth Phillips, Ocala residents leading an investment partnership called Oculus R Golf Partners. The partnership includes both institutional and private investors with deep ties to the local golf and equestrian communities.
The club closed abruptly in July 2018 due to a family dispute within the Stronach business empire. The litigation between Frank Stronach and his daughter Belinda over management of the family company resulted in the property sitting in limbo until a settlement was reached in August 2020.
The course originally opened in 2015 and was immediately recognized by Golf Digest as one of the Best New Courses in America. It was built by Frank Stronach, the Canadian billionaire founder of Magna International.
The course was built on the site of abandoned limestone quarries. Spring-fed quarry lakes provide up to 80 feet of elevation change from tee to green on some holes—a dramatic rarity in Florida's typically flat landscape. The 18-hole championship course stretches over 7,000 yards with fairways lined by Spanish moss-draped oak trees and rugged limestone rock faces.
The 1,300-acre property is located just four miles from downtown Ocala and ten miles from the World Equestrian Center.
The Phillips family plans to develop the club and residential community in a way that reflects Ocala's character. They're particularly excited about 355 acres within the Farmland Preservation Area, with plans to create a unique equestrian farm community that capitalizes on Ocala's reputation as a world-class equestrian destination.
The Adena Farms beef processing facility near Fort McCoy (696 acres) was sold separately to Fort McCoy Plant, LLC. Local cattle rancher Matt Rudnianyn and the T.J. Baldwin family of ranchers purchased the property and plan to continue custom beef processing operations.
Stronach reportedly poured more than $50 million into constructing the facility, with some estimates of total investment reaching well over $100 million when including operations and improvements over the years.
The club operates as a private country club. Contact the club directly for membership information and guest policies.
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Primary Sources:
- Golf Course Industry. "Club Lake Iron Adena Ocala Florida." golfcourseindustry.com
- Ocala StarBanner. Deed records search confirming $63 million sale price.
- LinkedIn. "Director of Golf - Head Golf Professional at The Club at Iron Lake." Job posting, 2024/2025.
Historical Background:
- Ocala Gazette. "Adena Golf & Country Club hopes to reopen." November 22, 2022. ocalagazette.com
- The Land Report. "Meet Frank Stronach." landreport.com
- Our Santa Fe River. "Adena Golf Country Club Abruptly Closes." July 2018. oursantaferiver.org
Family Litigation & Settlement:
- The Stronach Group. "Statement Regarding Settlement of Litigation." PR Newswire, August 13, 2020. prnewswire.com
- BloodHorse. "Belinda Stronach Settles Litigation With Father." August 14, 2020. bloodhorse.com
- The Globe and Mail. "How Frank Stronach's dream of building Florida's finest private golf course turned into a nightmare." November 7, 2018. theglobeandmail.com
Adena Farms Processing Plant Sale:
- Ocala Gazette. "Family brings local cattle operation full circle." May 3, 2025. ocalagazette.com
Additional Context:
- Top 100 Golf Courses. "Club Adena Ocala." top100golfcourses.com
- GolfPass. "Club Adena in Ocala, Florida." golfpass.com
- TripAdvisor. Member reviews of Adena Club. tripadvisor.com
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*Have a story tip for Only in Ocala? We'd love to hear from you.*
Iron Lake, the spring-fed quarry that serves as the visual centerpiece of the course, now lends its name to the newly rebranded Club at Iron Lake.
The property you might know as Adena Golf & Country Club or Club Adena is getting yet another new name. Under new ownership, the golf club will now be called The Club at Iron Lake, while the surrounding residential community will be known as IronCrest.
What's in a Name?
If you're having trouble keeping track, here's the scorecard:
| Era | Club Name | Community Name |
|---|---|---|
| 2015-2018 | Adena Golf & Country Club | (Planned residential) |
| 2022-2024 | Club Adena | Club Adena Residences |
| 2024-Present | The Club at Iron Lake | IronCrest |
The new names draw inspiration from the property's most distinctive feature: Iron Lake, the spring-fed quarry lake that serves as the visual centerpiece of the course. The community name "IronCrest" references both the towering cliffs surrounding the quarry lakes and carries a clever double meaning—the golf iron and the horseback riding stirrup that's synonymous with Ocala's equestrian culture.
The transition is already underway. A recent job posting for a Director of Golf/Head Golf Professional lists the employer as "The Club at Iron Lake," signaling that the rebranding is official.
The $63 Million Sale
Oculus R Golf Partners recently purchased the sprawling 1,300-acre property for $63 million, according to deed records obtained by the Ocala StarBanner. The buyers, husband-and-wife team Craig and Elizabeth Phillips, are Ocala residents with deep ties to the local golf and equestrian communities. They're leading an investment partnership that includes both institutional and private investors with a long-term vision for developing this one-of-a-kind residential community.
The property sits just four miles from downtown Ocala and ten miles from the World Equestrian Center.
From Limestone Pit to Luxury Links
To understand this sale, you have to understand the vision of the man who built it.
Frank Stronach, the Canadian billionaire who founded auto parts giant Magna International, first purchased more than 1,200 acres from the Stavola family in 2008 for approximately $17 million. At the time, Stronach was already Marion County's largest private landowner, having amassed roughly 29,000 acres—surpassing even Disney World's local holdings.
The property contained several abandoned limestone quarries that had been mined for road construction material. Rather than seeing these pits as obstacles, Stronach's architects transformed them into the course's defining feature. Spring-fed quarry lakes now provide up to 80 feet of elevation change from tee to green on some holes—a dramatic rarity in Florida's notoriously flat landscape.
The club opened in 2015 to immediate acclaim. Golf Digest named it one of the Best New Courses in America. The 18-hole championship course stretches over 7,000 yards, with fairways lined by Spanish moss-draped oak trees and rugged limestone rock faces.
Stronach reportedly poured more than $50 million into constructing the facility, with some estimates of total investment reaching well over $100 million when including operations and improvements. The original vision called for 120 high-end homes along the course—intended to be the crown jewel of his Florida empire.
An Abrupt Closure and Family Dispute
Then, in July 2018, members received a stunning message: the club had abruptly closed its doors.
A recorded message on the club's phone system stated simply that "the club officially closed its doors and is no longer open for business." A sign at the gate read "Club is closed." No explanation was given.
One member, writing on TripAdvisor, captured the shock: "We were notified on Wednesday, July 11, 2018 that Adena was closing their doors, effective immediately. No prelude, no hints of difficulty, no wind-down... What an immense loss this is to the world of fine dining and exquisite golf on an immaculate course."
Behind the scenes, a family dispute was tearing apart the Stronach business empire. What began as a disagreement over management of The Stronach Group—the family's horse racing, gaming, and agricultural holdings—escalated into a major lawsuit. Frank and his wife Elfriede were on one side; daughter Belinda, who had taken over leadership of the family company in 2013, was on the other.
The property sat in limbo for years as the legal battle played out.
Resolution and Reopening as Club Adena
The litigation was finally resolved in August 2020 when the parties reached a settlement that essentially divided the family empire. Under the agreement, Frank and Elfriede regained full control of the golf club, along with the Adena Farms cattle operations, horse breeding business, and certain agricultural assets. Belinda retained control of The Stronach Group's racing, gaming, and real estate businesses.
In November 2022, Stronach announced the club would reopen under his ownership—rebranded as "Club Adena." It gradually returned to operation, hosting golf groups and striking partnerships including a multi-year deal with the NXXT Women's Pro Tour for their year-end championship starting in 2024.
A Related Sale: The Adena Farms Processing Plant
Stronach's other major Marion County operation—the Adena Farms beef processing facility near Fort McCoy—was sold separately. The 696-acre property, which Stronach developed for raising and processing grass-fed, hormone-free beef, was purchased by Fort McCoy Plant, LLC.
The buyer, Matt Rudnianyn, is a local cattle rancher who had worked with the Stronach operation previously. The T.J. Baldwin family of ranchers, longtime Marion County cattle operators, has also partnered in the venture. The new owners plan to continue custom beef processing while serving the growing market of consumers who want to know where their food comes from.
What's Next for The Club at Iron Lake and IronCrest
The Phillips family says they see enormous potential in the property's unique character and strategic location.
"We were drawn to this property because of the strong economic potential of the assets and the unique character of the land," Craig Phillips explained. "The club provides a great starting point, due to its high-quality golf course and expansive clubhouse and leisure facilities, but what really distinguishes the property is the setting itself."
Elizabeth Phillips, noting their family's equestrian background, expressed particular excitement about 355 acres within the Farmland Preservation Area.
"Our focus is on developing the club and community in a way that responds naturally to the land and reflects the character of Ocala," she said. "As an equestrian family, we are particularly excited about the potential of the 355 acres of the property within the Farmland Preservation Area and the opportunity to create a unique equestrian farm community."
The property's proximity to the World Equestrian Center—which opened its 248-room Equestrian Hotel in 2021 and 390-room Riding Academy Hotel in 2024—positions IronCrest to capitalize on Ocala's growing reputation as a world-class equestrian destination.
A Story Only in Ocala
From limestone quarry to Adena Golf & Country Club to Club Adena to The Club at Iron Lake—this property has reinvented itself more times than most courses see in a century.
Iron Lake, the spring-fed centerpiece quarry, will continue to serve as the visual heart of the community—a reminder of the land's industrial past transformed into a scenic amenity unlike anything else in Central Florida.
And in a region known for horses and springs and rolling green hills, that might just be the most "Only in Ocala" story of all.
---
Frequently Asked Questions
What is the new name of Adena Golf & Country Club?
The golf club is now called The Club at Iron Lake, while the surrounding residential community will be known as IronCrest. The names draw inspiration from Iron Lake, the dramatic spring-fed quarry that serves as the course's centerpiece.
How much did The Club at Iron Lake sell for?
Oculus R Golf Partners purchased the 1,300-acre property for $63 million in 2024, according to deed records obtained by the Ocala StarBanner.
Who are the new owners of The Club at Iron Lake?
The new owners are Craig and Elizabeth Phillips, Ocala residents leading an investment partnership called Oculus R Golf Partners. The partnership includes both institutional and private investors with deep ties to the local golf and equestrian communities.
Why did Adena Golf & Country Club close in 2018?
The club closed abruptly in July 2018 due to a family dispute within the Stronach business empire. The litigation between Frank Stronach and his daughter Belinda over management of the family company resulted in the property sitting in limbo until a settlement was reached in August 2020.
When did the golf course originally open?
The course originally opened in 2015 and was immediately recognized by Golf Digest as one of the Best New Courses in America. It was built by Frank Stronach, the Canadian billionaire founder of Magna International.
What makes The Club at Iron Lake golf course unique?
The course was built on the site of abandoned limestone quarries. Spring-fed quarry lakes provide up to 80 feet of elevation change from tee to green on some holes—a dramatic rarity in Florida's typically flat landscape. The 18-hole championship course stretches over 7,000 yards with fairways lined by Spanish moss-draped oak trees and rugged limestone rock faces.
Where is The Club at Iron Lake located?
The 1,300-acre property is located just four miles from downtown Ocala and ten miles from the World Equestrian Center.
What are the development plans for IronCrest?
The Phillips family plans to develop the club and residential community in a way that reflects Ocala's character. They're particularly excited about 355 acres within the Farmland Preservation Area, with plans to create a unique equestrian farm community that capitalizes on Ocala's reputation as a world-class equestrian destination.
What happened to the Adena Farms beef processing plant?
The Adena Farms beef processing facility near Fort McCoy (696 acres) was sold separately to Fort McCoy Plant, LLC. Local cattle rancher Matt Rudnianyn and the T.J. Baldwin family of ranchers purchased the property and plan to continue custom beef processing operations.
How much did Frank Stronach invest in the golf course?
Stronach reportedly poured more than $50 million into constructing the facility, with some estimates of total investment reaching well over $100 million when including operations and improvements over the years.
Is The Club at Iron Lake open to the public?
The club operates as a private country club. Contact the club directly for membership information and guest policies.
---
Sources
Primary Sources:
- Golf Course Industry. "Club Lake Iron Adena Ocala Florida." golfcourseindustry.com
- Ocala StarBanner. Deed records search confirming $63 million sale price.
- LinkedIn. "Director of Golf - Head Golf Professional at The Club at Iron Lake." Job posting, 2024/2025.
Historical Background:
- Ocala Gazette. "Adena Golf & Country Club hopes to reopen." November 22, 2022. ocalagazette.com
- The Land Report. "Meet Frank Stronach." landreport.com
- Our Santa Fe River. "Adena Golf Country Club Abruptly Closes." July 2018. oursantaferiver.org
Family Litigation & Settlement:
- The Stronach Group. "Statement Regarding Settlement of Litigation." PR Newswire, August 13, 2020. prnewswire.com
- BloodHorse. "Belinda Stronach Settles Litigation With Father." August 14, 2020. bloodhorse.com
- The Globe and Mail. "How Frank Stronach's dream of building Florida's finest private golf course turned into a nightmare." November 7, 2018. theglobeandmail.com
Adena Farms Processing Plant Sale:
- Ocala Gazette. "Family brings local cattle operation full circle." May 3, 2025. ocalagazette.com
Additional Context:
- Top 100 Golf Courses. "Club Adena Ocala." top100golfcourses.com
- GolfPass. "Club Adena in Ocala, Florida." golfpass.com
- TripAdvisor. Member reviews of Adena Club. tripadvisor.com
---
*Have a story tip for Only in Ocala? We'd love to hear from you.*
Golf
Real Estate
Marion County
Ocala
World Equestrian Center
IronCrest
Club at Iron Lake
Adena Golf
Frank Stronach
Development
Equestrian
Luxury Homes