In a major indie financing deal, Joni Sighvattson’s Palomar Pictures (“Killer Elite,” “Brothers”) has launched a partnership with Grosvenor Park on a package of three films — a pair of remakes and a Stephen King adaptation.
The companies jointly announced the alliance Monday at the American Film Market, under which Grosvenor Park will finance Palomar’s upcoming productions of “Joseph and the Girl,” “Elliot” and “Rose Madder.” All three pics are targeted to go into production within 18 months.
Palomar is the first producer to sign on with Grosvenor Park since the latter announced plans during the Toronto Intl. Film Festival to resume financing films after a three-year absence. Grosvenor Park’s aiming to provide a “one-stop shop” financing solution for independent films in the mid-range budget level via senior, gap and tax lending.
The first Palomar film to go before the cameras will be “Joseph and the Girl,” a remake of a 2010 French heist thriller. The film will be directed by Gary McKendry and co-written with his writing partner Matt Sherring, the creative team behind “Killer Elite.”
“Joseph” will start principal photography in March. Sighvatsson is in advanced negotiations with major actors for the lead roles.
The original “Joseph” centers on a man getting out of jail where robberies got him locked up for 20 years. He goes to live in the house of his ex-cellmate who died in prison and left behind his daughter, who’s a swindler.
“Elliot” is a remake of the 2001 Norwegian film “Elling” with a script by Jay Roach, Larry Stuckey and Tom McCarthy. Sighvatsson will produce with Jay Roach and Kevin Spacey while Jennifer Perini at Roach’s Everyman Pictures will exec produce.
The original “Elling” was based on Ingvar Ambjornsen’s novel “Blood Brothers” about a man in his 40s and his struggle to function normally in society.
“Rose Madder,” based on King’s 1995 fantasy novel, has been adapted by Naomi Sheridan (“In America”). That story’s based on a woman who’s on the run from her abusive husband and is able to travel into a painting.
Sighvatsson is finalizing partnership arrangements with domestic and international distribs.
“Joni’s history the past two decades consistently producing high-quality films with fiscal discipline, and his knowledge and understanding of our changing marketplace, is the reason that Grosvenor Park is entering into this long term relationship,” said Grosvenor Park partner Don Starr.
Sighvatsson said the pics will be “high-quality mainstream pictures” and use a simpler method of financing larger budget independent projects instead of the traditional financial model normally used.
Grosvenor Park has arranged financing for more than 400 projects since 1982, including “The Hurt Locker,” “Righteous Kill,” “PS I Love You” and “Deja Vu.”