Last year the two equity destination clubs launched a reciprocity partnership, giving their members access to each other's vacation properties. They've now gone a step further with M Private Residences investing more than $1 million into the Rocksure Property Capital Fund.
This new investment effectively buys memberships in the Rocksure fund that can be used by all the M Private members, so increasing their access to the homes in the Rocksure fund.
Rocksure launched its Capital Fund a couple of years ago and now has spacious, centrally-located apartments and townhouses in Paris, Prague, Barcelona, Florence and London. The fund will buy further homes in Rome, Vienna, Cannes, Marbella and Venice to provide a total of 10 residences in some of the most fascinating cities in Europe. Each residence is at least 1,500 sq ft (150 sq m) with a minimum of two bedrooms. Members enjoy daily maid service and a concierge to advise and organize everything or nothing as a member requests.
"We're thrilled about this investment with Rocksure. Providing our members with an expanding portfolio of beautiful private residences falls into our mandate and mission to provide nothing but five-star equity investments and quality whenever and wherever our members choose to vacation," said Garry Leitch, Vice President of Sales and Marketing for M Private Residences.
Both of these clubs are equity clubs, so the members also have an ownership interest in the residences in the club. As we've said before, investments and partnerships like this make a lot of sense for destination clubs and their members. They provide additional vacation locations and options, while assuring the full service levels that club members come to expect.