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PortfolioOne, LLC Offers a New Opportunity in Luxury Vacation Rentals

Jan. 4th, 2012 | Comments 0 | Make a Comment   
Photo Courtesy of Lifestyle Asset Group
Luxury travelers unite! Lifestyle Asset Group has just launched PortfolioOne LLC, offering equity interest in 12 multimillion-dollar vacation homes in several destinations. From sandy beaches to snowy mountains, now is your chance to get in on a unique alternative to buying that second home.

With just 100 positions available until the February 28, 2012 closing, PortfolioOne offers the exclusive use of luxury homes in multiple locations at a per-night cost similar to staying in a single hotel room. "When we created PortfolioOne, LLC, we picked 12 locations that are attractive nearly 11 months of the year," said Richard Keith, chief executive officer of Lifestyle Asset Group, who heads the team that previously led Private Escapes Destination Clubs to global prominence.


"It was important to find locations with attractiveness of annual good weather, the ability to get there with access to major hubs, and also a property that is rich in amenities as it will serve as a surrogate vacation home to our members. We like to consider ourselves half Jimmy Buffett, half Warren Buffett."

Tailored to today’s economic realities, PortfolioOne acquires all residences in cash, removing all risks associated with debt. Additionally, the exit strategy is innovative and clear, disbursing the proceeds to owners at the divestiture process. "My team has been in the industry for a decade so we have a very experienced group," said Keith, who originally hails from Watertown, Mass. but is now living in Colorado.


"We are looking to cater to people who have an indisputable want to travel to multiple destinations with seamless travel while also satisfying a sort of nomadic travel interest. We want to appeal to those in the market for a second home but each of our homes is worth more than $2 million. We also wanted to appeal to those interested in fractional ownership but offer a risk free model."

To get in on the deal, PortfolioOne requires a fully refundable $10,000 deposit to guarantee one of the 100 positions that are available. Included is immediate access to four luxury homes, each valued at approximately $2.2 million: a four-bedroom, 4,770-square-foot Antebellum mansion in Charleston, S.C.; a five-bedroom, tropical residence in the Caletón Estates in Cap Cana; a four-bedroom villa overlooking the Ocean Course in the Cabo de Sol premier residential community in Cabo San Lucas, Mexico; and the five-bedroom, 6,700-square-foot Blue Sky Lodge in Deer Valley, Utah.


After the initial deposit, potential equity owners have the option to travel to any of these homes. Following the February 28, 2012 closing, Lifestyle Asset Group will acquire the balance of the real estate portfolio, which includes homes in San Diego, Scottsdale, Ariz., WaterColor, Fla., New York City, Napa Valley, Calif., Chicago, Palm Beach, Fla., and Turks & Caicos.

At closing, equity owners will make a one-time contribution of $300,000, which is the source of capital for the purchase of the real estate, debt-free. Annual expenses of $24,000 include turnkey management and travel to the residences of the portfolio, likely to average 35 days per year. At the end of the LLC’s seven-year term, Lifestyle Asset Group will sell the residences and disburse the proceeds to the equity owners.


Each stay is based on a point system so a night at the same property in the Caribbean in January, June and October would be different point values. "Each member is awarded 2,500 points each year, which translates to about four to five weeks average usage," Keith said. "We have tried to blend the uniqueness of the property with quality. This is for the person who believes real estate is going to do well in the future and they want to be a part of that. The structure makes ownership a great opportunity, offering equity in more than $30 million in luxury real estate for a very reasonable sum. It really is a terrific travel product." For more information on PortfolioOne LLC by Lifestyle Asset Group, visit LifestyleAssetGroup.com or call (970) 449-4292.

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