A member of a family described as one of North America’s most secretive business dynasties paid $11.5 million for a Wellington estate.
Property records reveal a company led by Robert K. Irving bought the 10.7-acre property at 15044 and 15096 Natures Point Lane from Franklin and Laura Lee Montross. Irving is part of the Irving family that controls Irving Oil, a giant Canadian gasoline, oil, and natural gas producing and exporting company.
Martha Jolicoeur of Douglas Elliman represented the buyer and seller. She declined to comment on the deal.
The sellers paid a combined $2.4 million for the properties between 2007 and 2012 and built the five-bedroom, six-and-a-half bathroom house in 2010.
Irving financed his Wellington estate with a $8.63 million mortgage from BMO Harris Bank. Wellington attracted many wealthy homebuyers due to its proximity to equestrian ranches, including Bill Gates and his daughter Jennifer, Laurene Powell Jobs and Billy Joel.
The Irving family is the largest landowner in the state of Maine, according to the Wall Street Journal. They are reportedly one of the wealthiest families in Canada, owning interests in oil, lumber and shipbuilding and has estimated net worth of about $8 billion.