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Introducing Equity Euro Fund & Equity Platinum Fund 2
In our May 2026 investor webinar, Greg Salley, Founder and Managing Director of Equity Residences 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.
During the webinar, we shared updates on several recent acquisitions, including new additions to Equity Platinum Fund 2 and the first acquisitions for the newly launched Equity Euro Fund. The discussion provided additional insight into how Equity Residences sources luxury homes, evaluates markets, and positions each acquisition for both investor enjoyment and long-term appreciation.
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.
Greg Salley shared additional insight into the performance of the original Equity Villa Fund, noting that the six homes already sold had an average total investment basis of approximately $730,000 per property, including renovations and upgrades, with average sales nearing $2 million per home.
The fund is currently tracking toward its targeted 1.5x return of invested capital while investors simultaneously benefited from more than a decade of rent-free vacations and family travel experiences.
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, is currently raising $50 million to acquire a portfolio of 16 luxury vacation homes throughout North America and select international destinations. The fund is already more than halfway subscribed and currently has seven homes acquired, with plans to purchase two to three additional homes this year.
As discussed during the webinar, recent Equity Platinum Fund 2 acquisitions include a luxury residence at Terranea Resort in Rancho Palos Verdes, California, as well as a new ski-in ski-out home in Big Sky, Montana.
The Terranea residence offers panoramic Pacific Ocean views overlooking Catalina Island and access to one of Southern California’s premier oceanfront resorts, complete with golf, spa amenities, restaurants, hiking trails, and private outdoor living spaces. The newest acquisition in Big Sky features true ski-in ski-out access directly beside the Puma Lift, vaulted ceilings, a chef’s kitchen, outdoor hot tub, mountain views, and close proximity to Yellowstone National Park.
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.
The first acquisitions for the Equity Euro Fund include historic residences in Florence and Rome, both located in centuries-old buildings that have been thoughtfully restored with modern amenities while preserving their architectural character. The Florence residence sits steps from the Duomo inside a sixteenth-century palazzo designed by a Medici architect and features restored original frescoes in the former palace library. The Rome residence is located between the Trevi Fountain and Spanish Steps inside a restored fifteenth-century building with exposed beam ceilings and contemporary interiors.
Greg Salley shared that Equity Residences expects to acquire three to four homes in Italy alone for the Equity Euro Fund, with additional markets under consideration including Lake Como, Sicily, Mallorca, Madrid, San Sebastián, Paris, Bordeaux, the Algarve, Vienna, London, Dubrovnik, and Budapest.
The Euro Fund was also described as highly complementary to Equity Platinum Fund 2, with many investors choosing to participate in both funds to diversify travel experiences, geographic exposure, and currency exposure.
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?rdquo; 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.
How Equity Residences Sources Luxury Homes
One of the more detailed discussions during the webinar focused on how Equity Residences identifies and acquires luxury homes for the funds.
According to Greg Salley, acquisition strategy begins with investor feedback. The team surveys investors to understand which destinations are most desired before evaluating markets based on short-term rental regulations, long-term appreciation potential, supply constraints, and rental economics.
The company then looks for opportunities to acquire homes below intrinsic market value through several approaches:
- Developer negotiations
- Opportunistic acquisitions
- Market timing
- Value-add remodels and repositioning
Several examples were shared during the webinar.
In Costa Rica’s Reserva Conchal, Equity Residences secured a penthouse pre-development for approximately $2 million before comparable units later sold for roughly $2.9 million before closing.
In Lake Tahoe, the company placed a ski-in ski-out home under contract for approximately $2.9 million before comparable residences sold between $3.5 and $3.6 million. Greg also referenced the Barcelona residence remodel, where a historic apartment was transformed into a luxury six-bedroom residence with five bathrooms, significantly increasing both usability and long-term value.
Other acquisitions discussed included opportunistic purchases during market dislocations in destinations such as Vail, Rosemary Beach, and Tuscany. The acquisition philosophy remains consistent across all funds: focus on high-quality hard assets in desirable destinations while positioning homes for both lifestyle enjoyment and long-term appreciation.
What Makes the Equity Residences Model Different
Throughout the webinar, we emphasized several ways Equity Residences differs from traditional vacation clubs or fractional ownership models. Unlike many luxury travel clubs, Equity Residences owns hard real estate assets directly rather than relying on long-term leases. The funds also operate debt-free, reducing financial risk while maintaining flexibility across market cycles.
Another key distinction is the dual-user structure. Because the homes are also rented to high-net-worth travelers when not occupied by investors, Equity Residences can generate strong asset utilization while reducing annual operating costs for investors.
The structure also minimizes booking conflict. Investors receive priority access to homes within their fund while Equity Residences strategically fills unused calendar gaps with renters. Greg noted during the webinar that this model allows investors to “cherry pick” their preferred weeks while still maintaining operational efficiency.
We also highlighted the global operational support structure, with team members across North America and Europe as well as local representatives who help maintain hospitality-level service standards at each residence.
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 Equity Euro Fund that already acquired Florence and Rome, Lake Como and London 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.
Beyond the financial structure, the webinar also highlighted the emotional side of the model. Greg shared stories from longtime investors who now use the homes as annual gathering places for children, grandchildren, and close friends, describing how the residences have changed the way many families vacation together. As Equity Residences enters its fifteenth year, the combination of professionally managed luxury travel, diversified real estate ownership, and long-term appreciation continues to resonate with investors seeking both lifestyle value and investment exposure to luxury real estate.
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?nbsp;
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.
Frequently Asked Questions
1. What is Equity Residences and how does it work?
Equity Residences is a luxury real estate investment fund that acquires and manages portfolios of high-end vacation homes for accredited investors. Investors purchase shares in a fund, receive annual travel credits for rent-free stays at fund residences, and participate in the potential appreciation of the underlying real estate when the portfolio is sold at the end of the fund term.
2. What is the difference between Equity Platinum Fund 2 and the Equity Euro Fund?
Equity Platinum Fund 2 focuses primarily on luxury vacation homes throughout North America and select international destinations, while the Equity Euro Fund is dedicated exclusively to acquiring luxury residences across Europe. Many investors choose to participate in both funds to diversify their travel opportunities and real estate exposure.
3. How does the Equity Residences credit system work?
Investors receive annual travel credits based on their ownership level. Credits are used to reserve stays at fund homes, with the number of credits required varying based on the property’s value, seasonality, and rental demand. The system is designed to provide fair access and investment returns across the portfolio.
4. Will I be able to book the vacations I want?
According to information shared during the webinar, approximately 98% of investor reservation requests are fulfilled. Equity Residences uses an annual planning process, flexibility preferences, and a rotating priority system when necessary to help maximize reservation satisfaction.
5. How are Equity Residences homes selected?
The acquisition team evaluates destinations based on investor demand, appreciation potential, rental economics, local regulations, and overall lifestyle appeal. The company also seeks opportunities through developer relationships, market timing, opportunistic purchases, and value-add renovations.
6. Do investors have access to the residences beyond those owned by the fund?
Yes. In addition to fund-owned residences, investors may access affiliate exchange networks such as ThirdHome and Elite Alliance. These partnerships expand travel opportunities and provide access to thousands of luxury properties around the world, subject to availability and exchange requirements.
7. Who can invest in Equity Residences?
Equity Residences is available to accredited investors. Prospective investors typically participate through a private investment review process, where they can learn more about fund structure, current availability, portfolio strategy, and suitability for their investment objectives.
Interested in learning more about the funds and becoming part of Equity Residences? We would be happy to connect with you. Contact us at info@equityresidences.com to learn more about our investment opportunities, current fund availability, and luxury vacation home portfolio. Our team can answer your questions and help you determine whether Equity Residences aligns with your investment and lifestyle goals.
