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Owner of Building Buys 30-Acre Land Beneath
Community Foundations of Texas (CFT) sold approximately 30 acres at 1925 W. John Carpenter Fwy. in Irving, TX. Larry Denisoff and Matthew Rosenfeld with Weitzman handled negotiations between CFT and a limited liability corporation for the land, on which a 405,432-square-foot, Class A office building sits. The transaction allows the building’s ownership – listed in public records as MetLife Real Estate Investors – to have possession of both building and land. The sales price was undisclosed.
The original land owner was Mercantile Bank (later MBank), which owned the building, while deeding the land to MCharities which, in turn, donated it to CFT. “This was a very complicated deal,” Denisoff said. “The original transaction was done 30 years ago, and once changed hands three times in one day during the 1980s. Trying to figure out the complexities of the original deal to make this transaction happen was a true challenge.”
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