Peter and Iris Robinson lost heavily in Florida real estate investment

Peter and Iris Robinson have lost hundreds of thousands on an investment in Florida real estate, it has been revealed.

Northern Ireland's First Minister and his controversial wife bought a luxury home near Orlando Airport at the height of the Florida boom, according to the Irish Independent.

The house then was valued at $600,000 dollars, but is now worth only $380,000, according to local real estate agents

A similar house beside the Robinson home sold for just $350,000 recently.

It was from the Florida home that Iris Robinson sent many of the incriminating texts to an advisor about her torrid affair with then 19-year-old Kirk McCambley. The losses on the house may also explain why she was so urgently demanding money back from her lover, who she helped set up as a restaurant owner.

The Robinsons bought the house in the summer of 2008; just before the real estate crash sent properties tumbling with Florida one of the worst hit states.

The property is described as a holiday villa with four bedrooms and four bathrooms. Peter Robinson is said to spend considerable time in Florida, especially during winter breaks.