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Introducing Equity Euro Fund & Equity Platinum Fund 2
In our February 2026 investor webinar, Greg Salley, Founder and Managing Director of Equity Residences, and Marina Salley, Head of Investor Relations, provided a comprehensive update on the luxury real estate funds, portfolio performance, acquisition strategy, and investor experience.
For those exploring luxury vacation home investment funds or shared real estate ownership, the session provides clarity on how the model is structured and where each fund stands today.
Watch the full webinar here:
What is Equity Residences?
Equity Residences is a luxury real estate investment fund that buys and manages portfolios of upscale vacation homes on behalf of accredited investors. Investors pool capital into funds that purchase high-end vacation homes in desirable destinations, and during the typical 10-year investment period they enjoy rent-free use of those homes while the fund team handles acquisition, maintenance, and operations. At the end of the term, the homes are sold and investors receive their original investment back along with anticipated appreciation proceeds.
If you weren’t able to attend, here’s a clear and comprehensive summary of the key insights shared during the session.
The structure is simple:
- Investors commit capital to a fund
- Over 90% of that capital is invested directly into real estate
- Homes are owned debt-free
- Investors receive annual travel credits for rent-free stays
- After a 10-year hold period, the portfolio is liquidated and anticipated proceeds are distributed back to investors
Returns are generated through two components:
- Real estate appreciation
- The lifestyle benefit of rent-free vacation use
Now celebrating 15 years in operation, Equity Residences manages more than $100 million in assets across 12 countries. Greg Salley emphasized that the company’s focus has remained consistent since inception: owning hard assets, operating without long-term lease obligations, and maintaining low risk through diversification and no debt.
Overview of Equity Platinum Fund 2 and Equity Euro Fund
During the webinar, we discussed the four active funds and their timelines. The Equity Villa Fund, launched in 2012, raised $13.5 million and acquired 11 homes. It is in its liquidation phase, with 6 homes already sold. As shared in the presentation, the fund is tracking toward approximately a 1.5x return of invested capital.
The Equity Platinum Fund, launched in 2016, raised $55 million and was oversubscribed. It acquired 23 homes and is projected to liquidate between 2030 and 2032, with a similar 1.5x return target discussed.
Equity Platinum Fund 2 launched in 2022 with a $50 million raise target and is currently more than halfway subscribed. Seven homes have been acquired so far, and the projected liquidation window is 2037 to 2039.
The Equity Euro Fund, launched in 2025, is a €33 million fund focused exclusively on European acquisitions. The goal is to acquire 12 homes, with liquidation projected between 2040 and 2042.
What is the Equity Residences Credit System and How It Works
Equity Residences uses a credit-based reservation system designed to balance usage across homes with varying market values and seasonal demands. The credit system ensures that investors receive balanced returns during the life of the funds. A 300-level investor receives 300 credits annually. The number of credits required for a stay depends on the home, the season, and the underlying rental value. For example, a peak New Year’s week in a $4.5M Tahoe, Northstar Resort home requires significantly more credits than multiple off-season stays in a Vail residence. Credits can be used across active fund homes and may also be transferred for use through affiliate networks.
The system is designed to create fairness while still offering flexibility in how and where investors travel.Credits act like an internal currency for the funds. Investors may reduce or potentially eliminate annual operating fees by returning unused credits, depending on the given fund’s economics.
Reservation Process and Availability
“Will we get the weeks we want?” is often one of the first questions investors ask, so we spent time explaining how reservations are handled. Each year is divided into two booking windows, October through February and March through September. Investors submit their preferred destinations and weeks, along with flexibility indicators. The annual calendar is then built carefully to minimize conflicts and maximize satisfaction.
If overlapping requests occur, affiliate access may be utilized, and a rotating priority system can be applied as a last-resort solution. During the webinar, it was shared that approximately 98% of reservation requests are fulfilled without issue.
In addition, space-available bookings can be made up to 30 days in advance at fund homes, up to 45 days through Elite Alliance, and up to 60 days through ThirdHome.
Outside of the reservation process windows, investors can book vacations on the first-come-first-served basis throughout the year through the Partner Portal. It is a fast and easy way to access Equity Residences vacation homes. All the homes in all portfolios are typically available to investors to book throughout the year.
Portfolio Highlights and Global Destinations
We also reviewed several homes currently in the portfolio to illustrate geographic diversification.
Examples discussed included a five-bedroom residence in Mykonos with sunset views over the Aegean; a renovated six-bedroom home near Passeig de Gràcia in Barcelona; and a three-bedroom residence at Terranea Resort in California. Other luxury homes mentioned included a ski-in ski-out home in Big Sky; a penthouse with a rooftop pool in Reserva Conchal; a beachfront residence on Crocus Bay in Anguilla, a Mauna Lani Resort home in Hawaii, a historic residence inside Siena’s old city walls; and a white sand beachfront home in Exuma, Bahamas.
Many of these homes were acquired through developer negotiations, value-add renovations, opportunistic purchases, and strategic market timing.
In addition to fund-owned homes, investors also have access to exchange networks including ThirdHome and Elite Alliance. ThirdHome was described as providing access to approximately 19,000 residences globally. These affiliate partnerships expand travel opportunities and allow investors to book luxury homes worldwide, often on relatively short notice through an exchange-based structure.
Investment Structure
As outlined in the webinar, the funds follow a traditional private equity structure with a 2% annual management fee and a 20% carried interest on gains at liquidation.
At the end of the fund term, original capital is returned to investors first. Any gains are then distributed according to the 80/20 structure, with 80% to investors and 20% to fund management.
During the webinar we illustrated how a 300-level investor, depending on usage patterns, could potentially generate approximately $35,000 to $50,000 per year in vacation value. When combined with long-term real estate appreciation, Equity Residences fund structure is designed to provide both experiential and financial return.
Looking Ahead
We also touched on potential acquisition targets under consideration. For Equity Platinum Fund 2, Napa or Sonoma and Park City were discussed. For the Euro Fund, Florence, Rome, and Lake Como were mentioned as prospective markets.
Acquisition decisions are guided by factors such as cap rate, investor demand, short-term rental regulations, and long-term appreciation potential.
This webinar reinforced Equity Residences’ approach to luxury vacation home investing: debt-free funds, diversified ownership of high-end homes, a defined 10-year utilization period, and a structure designed to combine lifestyle use with long-term capital appreciation.
For investors evaluating luxury real estate funds or alternatives to traditional second-home ownership, the session provided a transparent look at how the model works and how the current funds are progressing.
Interested in Becoming an Investor?
If you are exploring luxury vacation home investing and want to understand whether this model aligns with your portfolio, we invite you to continue the conversation and contact our Head of Investor Relations directly at marina@equityresidences.com. We are happy to walk you through the structure, current availability, and upcoming acquisition opportunities.
Equity Residences is designed for accredited investors seeking both long-term real estate appreciation and meaningful lifestyle use. Whether you are evaluating the Equity Platinum Fund 2, the Equity Euro Fund, or simply learning more about how shared luxury real estate ownership works, a private investment review is the best next step.
Your next investment could be one you actually enjoy.
