LOS ANGELES: Sacred Fools Theater Company has left its home of two decades in East Hollywood and has relocated to Theatre Row in Hollywood to a space formerly known as the Elephant/Asylum Complex. Sacred Fools will occupy the space as the resident theatre company and manage the establishment’s five performance spaces under a 10-year lease.

Production limitations and rising rents led Sacred Fools to embark on a search for a new space, which began two years ago. Patrick and Carlyn Duffy, long-standing patrons and parents of the company’s managing director Padraic Duffy, brought the search to an end when they offered to make a full investment in a new home for the company.

“Patrick and Carlyn expressed a willingness to make a full investment in the right real estate property if one could be found in the right location for the right price,” said the president of the board of directors, Bruno Oliver, in a statement. “This opened up the opportunity to not only find a new venue for performance, but also a creative ‘home’ in which to grow and mature. The entire Fools membership and organization is humbled by the generosity of Mr. and Mrs. Duffy.”

Sacred Fools moved into the new home at the start of the year and began preparing the Lillian stage space, where the 2015–16 season will continue a month behind schedule. In the future, Sacred Fools plans to make the other performance spaces in the building available to productions in the Hollywood Fringe Festival and to other Los Angeles theatre companies.

“With so many esteemed theatre companies being affected by the market, we recognize our extraordinary good fortune in finding a home that allows for long-term stability and programming,” said managing director Duffy in a statement. “We hope to forge alliances so that this win for our company, extends to the greater small theatre community for years to come. Sacred Fools fully intends to be a remarkable neighbor.”