"The new Lone Star Fund has now raised over $2m and the charter membership round is wrapping up," said Managing Director, Philip Mekelburg. "The fund has already bought its first home a four bedroom, five bathroom lakehouse in Horseshoe Bay, Texas. The home features a detached boathouse, sweeping porches and decks, which are perfect for outdoor entertaining" he continued. (The image above is of the Horseshoe Bay residence.)
With Equity Estates fund I now closed the only way for someone to join this first fund is if a current member decides to leave. The owners in this fund have access to over 50 properties in 35 destinations in 11 countries. The fund plans to initiate its liquidation process and start selling the portfolio of homes in 2021, and return the proceeds to owners. So there's at least 9 years left of travel for the members of this first fund.
The Lone Star Fund will be buying homes with values in the range of $1.5m to $2.5m in mountain, beach, city and leisure locations. Just as in fund I, owners can choose from three investment levels which provide 15, 30 or 45 nights of travel each year, and can stay from 1 night up to 18 consecutive nights at any of the residences. The fund plans to start selling the homes in November 2025 and will distribute the proceeds to members.