Fairview Partners Investment Management, a private credit fund specializing in real estate financing, is pleased to announce its instrumental role in financing the $34 million exit from bankruptcy of the iconic Paramour Estate in Los Angeles. This remarkable landmark, constructed in 1923 and perched on a picturesque four-acre hillside, has emerged triumphantly from a challenging bankruptcy case that originated from a 2015 legal dispute involving Katy Perry and the Archdiocese of Los Angeles. Fairview Partners is thrilled to be a part of the new chapter at the Paramour as it embarks on its restoration journey under the ownership of esteemed hoteliers and project developers, Clark Lyda and Ken Fulk.
Ian McCarthy, Head of Originations at Fairview Partners commented, "We are delighted to have Clark and Ken at the helm of the Paramour Estate's revitalization. Their passion for preserving architectural heritage and their proven track record in the hospitality sector make them the perfect team to breathe new life into this iconic property that boasts a rich history and offers breathtaking views of downtown LA."
Despite the complex backdrop of this bankruptcy case, Fairview's loan originations team immediately saw the Paramour's immense potential and provided a firm commitment to financing, enabling the property's new owners to secure the necessary resources to acquire this exceptional asset. This landmark acquisition aligns seamlessly with Fairview's mission to assist borrowers in navigating challenging situations. With a steadfast commitment to providing liquidity and setting its clients up for long-term success, Fairview Partners takes great pride in playing a pivotal role in renewing esteemed properties like the Paramour Estate.
Fairview is currently raising its seventh flagship fund, Fairview Investment Fund VII, LP, which will close at the end of the year.
Source: PR Newswire
