The bid from the Phoenix-based InSymphony Private Capital LLC was the only one accepted during an auction before about 50 people Tuesday on the steps of the Washoe County Courthouse.
J.W. Means III, owner and operator the Reno-based Players Golf Tour, bid $1.1 million but did not qualify.
The 18-hole public course with sweeping views of the city and the Sierra front closed in March 2012 when the D'Andrea Homeowners Association voted down a proposal to raise dues to offset losses.
Judith Otto, a Reno lawyer representing the Phoenix lender, told the Reno-Gazette Journal said she doesn't know the property's future plans.
Information from: Reno Gazette-Journal, http://www.rgj.com