The Four Seasons Residence Club in Punta Mita, Mexico has unveiled its Phase II expansion, which consist of 15 new fractional homes.
The Residence Club is adjacent to the Four Seasons Resort Punta Mita, which is situated on the northern tip of Banderas Bay. Club owners have full access to all the services and amenities offered by the resort, including white sand beaches; several pools, multiple restaurants, the Resort's Apuane Spa and fitness centre, separate facilities for children and teens to keep younger vacationers busy and Jack Nicklaus Signature golf. Fishing, water sports and whale watching are among the many activities available at the Resort.
The fractional two, three or four bedroom penthouse homes range in size from 1,900 square feet to over 3,100 square feet. They are luxuriously equipped with gourmet kitchens replete with Sub Zero and Wolf appliances, large terraces with private plunge pools and outdoor showers. All villas have 50-inch plasma screen TVs, Bose 3-2-1 Home Theatre sound systems and a Sony PS3.
There are 15 villas being released in Phase II, offering 1/12th fractional ownership. Pricing starts from the low $200,000s. Phase I consisted of 10 residences - four 2-bedroom, four 3-bedroom, and two 4-bedroom.
"We're so pleased that sales have continued to remain constant with over 50 per cent of Phase II inventory having sold out in advance of the scheduled opening in January - quite a testament to the lure of Punta Mita and the magic that it inspires." said Paul White, Vice President Residence Clubs, Four Seasons Hotels and Resorts.
In Mexico, foreigners own oceanfront property through a bank trust - referred to as a Fideicomiso (similar to an American beneficial trust). The villas are owned through a bank trust held by JP Morgan. Each purchaser is a beneficiary of the trust. Owners enjoy rights and privileges of ownership. Owners receive a title insurance policy for their fractional interest from First American Title Company, one of the largest international title insurers in the world. Owners may sell their ownership or pass it on to future generations.
Owners do not purchase a specific time period (or specific weeks). Instead, owners purchase an interest in a Residence Club Unit and make reservations each year for the time they wish to visit their home.
Each owner has the right to reserve 21 nights of "Primary Use Time" each year. These 21 nights are comprised of 14 nights in Platinum Season (Jan 1 through Apr 30; Jul 1 through Aug 31; Nov 1 through Dec 31) and 7 nights in Gold Season (May 1 through Jun 30; Sep 1 through Oct 31). In addition to Primary Use Time, each owner has the opportunity to request up to 7 nights of "Privilege Use Time" each year, on a space-available basis.
Four Seasons has been growing its residence clubs over the last few years. There are now 6 locations, Vail, Scottsdale, Jackson Hole, Aviara (CA), Punta Mita, Mexico and Peninsula Papagayo, Costa Rica. Members at each club have exchange privileges to other Four Seasons Residence Club locations.