Equity Estates just announced a multi-million dollar investment from Canadian based Luxus Group. The purchase of member interests marks the largest international transaction for Atlanta-based Equity Estates, and continues the trend of partnerships and cross investments between equity destination clubs.
"We are proud to welcome Luxus to our Equity Estates family. Their shared interest in first class vacations, high level service and a sound fiscal business model are qualities we have long admired of each other's companies," said CEO and Equity Estates Co-Founder, Philip Mekelburg. "We look forward to many years of appreciating luxury residences."
"We thought it was a great opportunity to present our Elite fund members with access and ownership to some of the most amazing properties in the industry," said Stephen Petasky, Founder and President of Luxus Group.
Equity Estates announced the sell out of its first fund earlier this year, and also launched its second fund – the "Lone Star Fund". Similarly Luxus closed its first fund to new investors this year and opened a new higher end fund called the "Elite Collection".
Many of the equity destination clubs, or luxury residence funds, have partnerships with each other that let each other's members use their homes. This just works for all concerned – members have access to more properties with the same high levels of service – and the clubs can offer these additional locations without raising extra funds. For instance North American focused Equity Estates also has a reciprocity partnership with European focused Hideaways Club.