PREF Commerce, an affiliate of the San Diego-based Paragon Real Estate Fund, has acquired the Louis Bank of Commerce Building at 835 Fifth Avenue, located in San Diego’s Gaslamp Quarter. The historic, four-story building has approximately 22,000 square feet of retail and office space, and features stunning Victorian Baroque Revival architecture with an equally colorful history.

Pre-built on the East Coast and shipped around Cape Horn to San Diego, the structure was erected in its current location in 1888. According to the Gaslamp Quarter Historical Foundation, it originally housed the Bank of Commerce until 1893 when Isidor Louis opened Maison Doree, an oyster bar that became a favorite of Wyatt Earp. The upper floors later became the Golden Poppy Hotel, run by fortune teller Madame Cora.
Paragon is a privately-held real estate investment company, led by Messrs. Roberto Jinich, Ricardo Jinich and Dan Berkus. The Firm manages a growing portfolio of stabilized assets through its flagship fund, Paragon Real Estate Fund. The Fund seeks to acquire high quality urban retail and mixed-use real estate in the U.S.