Dorit and Paul “PK” Kemsley have been feverishly trying to sell their Beverly Hills home but it turns they may not even own the home.
Reality Blurb reports that PK and Dorit don’t exclusively own their Beverly Hills home.
The 90210 mansion was purchased in September 2016 and “isn’t solely owned” by the Real Housewives of Beverly Hills couple.
According to a report from The Real Deal from years ago, PK is in a “joint venture” with tycoon Sam Nazarian.
Turns out that Nazarian purchased Dorit and PK’s “8,679-square-foot home for $6.5 million through a trust.”
PK invested an unknown amount into the house and plans to sell it through the joint venture with Nazarian.
The details of PK’s deal with Nazarian are unknown but it’s rumored that PK and Dorit are paying rent to the trust while they reside in the home.
The home was initially put on the market in 2017 for $12.7 million. Then in January 2018, they slashed the selling price by $1.8 million. Most recently, PK and Dorit’s home was featured on Million Dollar Listing: LA in October 2018 when they additionally slashed the selling price by $4 million.
Even after their Beverly Hills mansion sells PK plans to continue his joint-venture with Nazarian and by and sell more properties in the 90210 area.
“I have decided to reignite my property business here in L.A. and across the states and I’m doing this with my old friend and established real estate investor Sammy Nazarian,” PK said in a statement back in 2017. “We are actively looking for development sites and commercial opportunities.”
Considering PK and Dorit’s long list on financial troubles it makes sense that they are using their well-connected friends and sly business practices to buy homes and, most likely, to fund their lavish lifestyle.