MonCasa Private Club Residences, is a new destination club that allows members to invest in luxury vacation residences using their Canadian Registered Retirement Savings Plans (RRSP). They just announced a long term reciprocity agreement with The Quintess Collection, which provides members of both clubs access to each other's portfolio of properties in worldwide destinations.
MonCasa has been planning its launch for three years, and waiting for the global economy to stabilize prior to its unveiling. It has residences under contract across the Caribbean, including St. Lucia, Turks & Caicos, St. Maarten and the Dominican Republic. MonCasa's selection of fine homes will combine with The Quintess Collection's portfolio of more than 100 luxury residences in 40 destinations, like Los Cabos, Aspen, Paris, Tuscany, California Wine Country and Maui.
MonCasa has the distinction of being the first and only club in existence that offers members access to luxury real estate financed and purchased through an RRSP Eligible Mutual Fund Trust structure. This means members can put their retirement funds to good use by investing in a portfolio of luxury residences, with the opportunity of earning a conservative return on their investment. This mutual fund will have zero debt on the properties that it buys.
"MonCasa started out looking for a better way for Canadians to travel in a club setting and ended up revolutionizing the way clubs finance their properties," says John Collins, CEO of MonCasa Capital. "We wanted a safe way to access the $650 billion currently sitting in RRSPs and this structure is perfect for the destination club traveler who wants to commit to a certain number of travel days each year, while still feeling a sense of ownership in the places they visit through their investment in the fund."
The Quintess Collection is a network of three clubs – Quintess, DUO by Quintess and the golf-themed PGA TOUR CLUB. The agreement allows MonCasa members the opportunity to enjoy The Quintess Collection's more than 100 homes and experiences in 40+ of the world's most sought-after destinations as a complement to MonCasa's own portfolio of homes in the Caribbean.
"As we continue to expand The Quintess Collection's member benefits with more incredible residences and experiences, we're pleased to increase our presence in the Caribbean with additional homes available to members through this agreement with MonCasa," says Pete Estler, founder and CEO of The Quintess Collection. "Our Members will benefit from the additional destinations and residences provided by MonCasa."
Neil Martin, a founding investor in MonCasa said "I have been monitoring MonCasa for almost three years now and I'm thrilled to finally be able to invest in a fund that offers safety and security for my hard earned money, plus the opportunity to travel to the homes I'm investing in." He continued "The deal with The Quintess Collection is the icing on the cake. My first three trips are going to be to Turks and Caicos, Los Cabos and a golf trip to Pelican Hill at one of The Quintess Collection's TOUR CLUB residences."
- Club Holdings Acquires Luxury Villa Rental Company Time & Place
- Quintess Launches 2 Year Club Card
- Quintess Expands Destinations, Adds New Memberships
- A Trip to Buenos Aires, Argentina
- A Private Chef in Tuscany
- Meeting the Gray Whales in Magdalena Bay
- Relaxing on St Martin
- Quintess Adds Nantucket, Fire Island and Buenos Aires
- Summer in Tuscany With a Private Chef
- New Trial Offer From the Quintess Collection
- Plenty of Space for Two Families
- Jackets Required at The French Laundry
Latest Destination Club Research
- Time is the Ultimate Luxury
- Top 5 Reasons NOT to Join a Destination Club
- The Top 7 Reasons to Join a Destination Club
- Increasing Interest in Purchasing Access to a Shared Vacation Home
- Destination Clubs - a Rose by Any Other Name?
- Newly Updated Guide to Destination Clubs
- Portico Club Overview
- New Research Identifies Key Factors in Choosing a Destination Club