Fractional Ownership News

Lifestyle Asset Group launches PortfolioOne

Equity-based destination club Lifestyle Asset Group has announced the launch of PortfolioOne LLC, offering equity interest in 12 multimillion-dollar vacation homes around the world.

The fund has 100 positions available until it closes on February 28, 2012. The company says PortfolioOne presents a unique option for those looking to buy second homes or alternative products, offering unrestricted use of luxury homes in multiple locations at a per-night cost similar to staying in a single hotel room.

“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,” it adds.

“This is an intelligent, revolutionary new model that embraces everything good about a shared model with none of the disadvantages,” said Richard Keith, CEO of Lifestyle Asset Group. “A clear, planned exit strategy acknowledges the fact that modern living requires flexibility.
 
“There will be years in which commitments to family, friends and career may keep travel to a minimum, and other years in which owners find themselves with the freedom and desire to travel more,” Keith continued. “Our model keeps fixed costs low to accommodate those fluctuations. This structure makes ownership a great opportunity even in the leanest of travel years, offering equity in more than $30 million in luxury real estate for a very reasonable sum.”
 
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, South Carolina; 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 placing a deposit, potential equity owners have the option to travel to any of these homes at preferred rates. Following the February 28, 2012 closing, Lifestyle Asset Group will acquire the balance of the real estate portfolio, which includes San Diego; Scottsdale, Arizona; WaterColor, Florida.; New York City; Napa Valley, California; Chicago; Palm Beach, Florida; 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. Should there be gains in the real estate during the term, an equity owner would enjoy an increase in the value of their LLC interest.

Additionally the company is offering a special bonus, valid until December 9, which offers those who sign up to PortfolioOne benefits worth $40,000 in the form of up to five weeks of luxury travel within the PortfolioOne collection of residences at no cost, and the awarding of 50 per cent more travel annually than other equity owners.
 
www.lifestyleassetgroup.com

29/11/11
 

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