Should I hang out with old friend (he wants stuff)?

Okay in 4th and 5th grade (im 16 now) i had my best friend ever (lets call him troy) and me and him "dated" we were both pretty innocent. I moved away and just found him on facebook and he is not innocent anymore. He obviously wants to get together and i dont what to do. lately i have been lonely and depressed and horny and would love to kiss makeout and date but i want to save sex for someone special you know. and he doesnt think sex is a big deal. if this was anyother guy i probably wouldn't hang out with him but he was my best friend i love him. i dont know what to do? help!