second homes

Cuvee Ventures And Cuvee Escapes: Combining Return On Investment And Return On Life

The Cuvée Residence, Lanai

Cuvée Ventures and Cuvée Escapes appears to have lived, since 2005, a well-funded, quiet, under-the-radar yet lively existence within ultra high net worth and wealth management communities.

"One third of our investors are private wealth or money managers. Our rental clients are celebrities, internet and retail executives and sports figures." said Larry Mueller, founder and CEO of Cuvée Ventures and Cuvée Escapes in a recent interview, "they really understand money and investment. But they are also at a place in their lives where they want to enjoy, in addition to substantial ROI (return on investment), what I call ROL -- a return on life investment-- as well."

"My idea to create this high-end, travel community began in 2005, where we could start a fund, create a community of accredited investors, and buy high end properties in cash. We would have great leveraging ability because of this, and after we bought them, either we could enjoy them when we wanted, or rent them out through our other company, Cuvée Escapes. We provide all of the extras -- a concierge on property, private chefs, cleaning services, whatever was wanted and needed by the investor family or the renter. That's the ROL of it!"

Both ideas, as both companies, compliment and supplement each other. Cuvée Ventures is a private equity fund /real estate investment group, whose investors enjoy the $5-8 million Cuvée residences purchased by their fund. When not being used by their investors, Cuvée Escapes also rents the homes, for between $3-8,000 per night.

Unlike the basic destination club model, either equity or non-equity based, Cuvée Ventures is a fund-based equity investment group, and rents the properties it owns, when the investor-families are not using them. It is also, according to Larry, 100% debt-free on its investment in real estate.

A few facts and stats: There have been two funds since 2005 that have purchased exceptional residences -- see next page. The investors pay $750,000 for a 1/2 share investment allowing 15 nights per year, and the full share investment, $1,500,000, allowing for 30 nights per year. The investors may stay at any of the residences available. Each accredited investor owns his or her share of the limited partnership that owns the real estate, so all of the investor money is tied directly to the hard asset. In Fund I, there were 17.5 shares and about 20 investors, and
in Fund II, there were 12 shares and about 14 investors.

Tags: Cuvee Escapes, Cuvee Ventures, high end travel communities, Larry Mueller, private equity fund travel community, second homes, travel communities

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The Ascent Opens For Sales in Colorado

by Deidre Woollard (RSS feed) —

Filed under: Estates, Real Estate Developments

Sales began today on The Ascent, a new 49-unit resort condominium project at the base of Beaver Creek Ski Resort in Avon, Colorado. The first sales offering includes some 25 units initially with two-, three- and four bedroom residences up for sale.

Units have upscale appliances and finishes with knotty alder cabinetry wood flooring, granite countertops, GE Profile stainless appliances, GE stack washers and dryers, Jacuzzi tubs, gas fireplaces, high-speed Internet wiring, ceramic bathroom flooring, and a designer's palette of muted paint colors and premium finishes throughout. Property amenities are designed for vacationers with a fitness area with lockers and a steam room; indoor pool; indoor and outdoor hot tubs; and outdoor fireplace and deck; sports lounge; youth game room; reading lounge with a fireplace; ski lockers with boot warmers and a ski season shuttle to Beaver Creek and Vail.Prices start at $349,000 for a two-bedroom on the second floor and zoom up to $1.099 million for a four-bedroom penthouse, prices that are approximately 50-67% of the 2008 pricing.

Tags: beaver creek, colorado real estate, second home, second home buying, Second Home Destinations, second home market, second homes, the ascent

The Terraces, Luxury Condos At Coeur d'Alene

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The town of Coeur d'Alene, Idaho is known for its pricey vacation homes but because of the economy it has been slow going selling the condos at one pricey development. The condominiums at The Terraces in Coeur d'Alene are priced from $3.5 million and come with amenities like a two-car garage, covered boat slip, memberships to the Coeur d'Alene Resort Golf Course and limo service from the airport. The Spokane Statesman-Review reports that the Hagadone Corp. the developer of the project, has decided not to drop prices on the 30-unit development. It opened two years ago and so far eight condos remain unsold, listed for prices between $3.5 million to $5.9 million, prices that could also get you a luxury home in the area. But many people use these condos as vacation homes and appreciate the ease of use. They can even opt for units which are furnished and decorated to save time for enjoying the summer on the lake.

There is some hope in the air with regards to condo sales in this scenic destination. Discovery Land Company recently opened a 28-unit condo building at Arrow Point on the lake with units running from $1.7 million to $4.5 million. So far six condos have sold and nine more units have sales contracts according to Discovery spokeswoman Erin Dixon said.

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Tags: coeur dalene, CoeurDalene, idaho, second homes, SecondHomes, the terraces, TheTerraces

Solstice Destination Club

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels, Yachts & Sailing

The San Francisco Business Times has a piece on another luxury destination club. Solstice is a San-Francisco-based company that offers a variety of destination options including Cabo San Lucas, Florence and the 90-foot Solstice yacht. The seven homes in the club are each valued at $5 million to $7 million and include a vehicle for members' use. As Greg Shove of the Helium Report is quoted as saying in the article, they are a boutique club aimed more at the high-end than other clubs that have popped up recently. Perhaps that's because it was created by someone who had a second home but grew weary of the maintenance and the sense of being tethered to one location. You can pick up four weeks at a Solstice house for annual dues of $39,500 and there is also a membership deposit of $825,000. They plan to only have 42 members and are at 36 now so if you want in, now is the time.

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Tags: destination clubs, resort clubs, second homes, solstice, travel