The financially troubled legendary resort celebrates its 45th anniversary this year.
Orlando's world-famous LGBT club Parliament House isn't going anywhere according to owner Don Granatstein.
Rumors have been flying lately that the historic property is going to be auctioned off at the end of the month because of court documents that appeared on the Orange County Clerk of Courts website.
Watermark media investigated the legitimacy of the paper trail and found that:
"Lion Financial filed a judgment of foreclosure on Dec. 3 against Parliament Partners and its investors, as well as Granatstein, co-owner Susan Unger and two undisclosed individuals named in the judgment as John Doe and Jane Doe."
They also found the property is assessed at just under $3.4 million.
A Ninth Judicial Circuit Court of Florida sided with Lion Financial’s motion in the amount of $3.9 million with the addition of late fees equalling $806,341. The court then ordered a lien on the property and it to be auctioned off on Feb. 25.
Granatstein confirms that the resort is up for auction, but insists that it's only a formality and currently a refinancing agreement is being shaped with Lion Financial to avoid the sale.
“The foreclosure action is brought by Lion Financial. We have been dealing with them for many years on a very friendly basis,” Granatstein says. “Once mortgages are due they prefer to be landlords rather than mortgage holders. They did the exact same thing with The Gardens and we end up leasing with an option to buy back at same amount as mortgage.”
The Gardens was a part of a 2017 five-acre deal to Lion Financial to appease unresolved debts.
“We are days away from finishing a refinancing that will pay off all mortgages, allow us to renovate the Parliament House and build out The Gardens,” Granatstein explained.
Going back five years the resort faced auction rumors when social media posted records of similar subject matter, but a lawyer at the time dispelled those reports saying it was a process to fulfill Parliament House’s Chapter 11 bankruptcy agreement.
Watermark reports that they verified with The Orange County Clerk of Courts office that a judgment of foreclosure had been made but an auction is not imminent if "a bankruptcy or refinancing agreement could prevent the property from being auctioned."
Lion Financial has not responded to the publication's request for a statement.
Parliament House is an establishment for the ages. The legendary property contains a 112-room hotel with large front windows that overlook the fabled courtyard where drag shows, foam parties, underwear fashion shows, and other adults-only festivities take place.
There are also several bars, a few shops and a theater located within the resort.
Now in its 45th year of operation, Granatstein maintains the resort isn't going anywhere, saying it, "will be here forever."