Bank Buys Renault Winery, Will Rename, Sell It: Report

The historic Renault Winery -- the oldest winery in New Jersey -- will soon have a new name, after OceanFirst Bank bought it out of bankruptcy recently, according to a report.

Philly.com reported that the 150-year-old Galloway Township winery and resort filed for bankruptcy protection last November, which halted a plan by OceanFirst Bank to sell it at a sheriff’s sale. The Toms River-based bank held a $7.9 million mortgage on the resort; Renault’s total liabilities were $8.6 million at the time of the bankrupcty protection filiing.

Philly.com said OceanFirst will rename the facility Tuscany Resort, which will remain open while the bank tries to sell it.

The winery and resort, which sits partly in Egg Harbor City, was founded in 1864, according to an NJ.com report on the bankruptcy protection filing. It was purchased by Joseph P. Milza in 1977; he added a 50-room hotel known as Tuscany House in 2001 and Vineyard Golf, an 18-hole championship golf course, opened in 2004.