For the members of the equity destination club, Equity Residences, there are now dozens of new destinations to choose from. The clubs homes join the global network of luxury residences in Elite Alliance. This includes destinations around the world, such as Napa Valley - California, Florence - Italy, Southampton – Bermuda, Great Exuma – Bahamas, Cabo San Lucas – Mexico, Deer Valley – Utah, La Quinta – California and Sedona – Arizona.
With its unique twist on real estate investing, Equity Residences has introduced a model in which clients invest in luxury real estate, this generates rental income to offset the Fund's operating expenses and Fund investors also enjoy extraordinary vacations. Unlike other destination clubs, rental income is used to cover the annual operating costs eliminating large annual dues, but investors still get to use the club homes for their vacations. After 10 years, the properties will be sold, and investors receive their money back, plus any positive investment returns.
Elite Alliance Locations
The Elite Alliance is an exchange services for prestigious residence clubs and luxury, professionally managed vacation homes. "We are excited to announce these new residences to our members" said Rob Goodyear, President of Elite Alliance, "the quality, service and amenities are a perfect fit for Elite Alliance."
Some examples of the Elite Alliance homes include:
The Residences at The Chateaux in Deer Valley, Utah. Located mid-mountain, each of the three and four bedroom residences boasts dramatic views, gourmet kitchens, flat-screen TVs, private decks and patios and dual master suites, each with an elegant fenetre de bath.
Capella Pedregal in Cabo san Lucas, where the three and four bedroom residences offer access to the resorts several pools, the Auriga Spa & fitness center, several restaurants and tennis facilities.
The Residence Club at Tucker's Point in Bermuda offering two, three and four-bedroom villas that provide sweeping views of picturesque Harrington Sound, Castle Harbour, and the golf course. The resort includes a private beach club, waterfront swimming pool, seaside tennis facility, private clubhouse and pool, and a championship 18-hole golf course.
Current Equity Residence properties include a mid-century modern four bedroom villa in Palm Springs; an ocean-view villa in Maui, Hawaii at the Ritz Carlton Kapalua Resort; a luxury, waterfront, four-bedroom home in Longboat Key, Florida; a five-bedroom, rustic mountain villa in Deer Valley, Utah; and a top floor condominium in Mammoth Lakes, Calif. at the prominent White Mountain Lodge in The Village.
"We also have a property on the big island of Hawaii under contract", said Greg Salley, Managing Director of Equity Residences, "We're buying this at 65% below peak pricing of a few years ago."
Greg Salley and John Long, the two managing directors, launched Equity Residences in 2012, and appear to have found some good deals in the luxury vacation home market. This looks promising for their fund investors who could see a financial return as the properties appreciate and also get to enjoy the homes during the funds lifetime.