Lomas & Nettleton, once one of the largest mortgage companies in the United States, built and occupied the building as its primary mortgage servicing center prior to entering its second bankruptcy. Viceroy Partners, LP (a Val Fund affiliated entity) purchased the asset in 1996 from the Creditors and leased it roughly three months later to Norwest Bank for their Regional Operations Center. Norwest purchased the asset shortly thereafter. In 2004, Val Fund re-purchased the building at a favorable basis after Wells Fargo (which purchased Norwest) reduced its operating capacity in the Dallas / Fort Worth area.

Val Fund made a non-contingency offer and acquired the asset on an all cash basis with a quick close. The then vacant building had leasing risk and initially required carrying costs (taxes, repair and maintenance, management and staffing, etc.) that most buyers were unwilling or unable to incur. Val Fund aggressively marketed the building, substantially reduced the carrying costs and added tenants, including Southwest Airlines, Xerox, Zayo, and Amegy Bank.