Peter Kuhn is a huge fan of the fractional business model. Having purchased shares in various other clubs, he enjoyed the luxurious homes, first-class amenities, the exceptional level of service, and other accouterments that go along with this lifestyle. When an opportunity to venture into the business side of this type of arrangement became available, he decided to make a go of it.
"A separate fractional ownership company is in the process of selling off some of their excess real estate in Scottsdale, so I and a partner are negotiating to purchase one of the villas," Kuhn notes. They are currently in the process of developing an interest list for fractional shares in this villa.
In a sense, he's fractionalizing a fractional villa...
"I was visiting Scottsdale when I discovered The Rocks," Kuhn says. Part of The Timbers collection, The Rocks is a luxury private residence club that includes a proprietary arrangement with Troon Golf, which offers exclusive access to more than a dozen world-class courses within Arizona. In addition to a state-of-the-art luxury spa, a clubhouse featuring a billiards room, cigar terrace, massage treatment rooms as well as a refreshing plunge pool are available for owners and their guests to enjoy.
Kuhn anticipates the shares will be priced at $160,000, which, Kuhn says, is significantly less than shares at other Timbers resorts. "It's the most affordable way to enter into the Timbers program to take advantage of the great properties in their entire portfolio," he notes.
The villas are nestled in a gated, private canyon. The rustic yet elegant residences feature 3,200 square feet of opulent living space and fit well within the Sonoran Desert landscape. Designed by architect Bing Hu, the hacienda-style homes feature four bedrooms and upscale attributes such as a gourmet kitchen with granite countertops, private spa and a sprawling outdoor entertaining area.
It is anticipated fractional owners will have membership in The Timbers residence club, an exclusive residence club that offers the benefit of the Timbers Reciprocity Program. This arrangement enables owners to stay at other Timbers Collection luxury properties such as Esperanza Resort in Cabo San Lucas, Castelli di Casole in Tuscany, Italy, as well as The Sebastian in Vail, Colo. There, owners can partake in a variety of vacation experiences that offer the same five-star service and amenities.
Each Timbers Resort offers luxury spa services at one of its world-class spas and fine dining at its signature dining venues. Ski valets are available at the ski resort locations while the Napa and Tuscany properties feature vineyards and olive groves. In addition, concierge services ensure that every detail of the member's stay is perfect.
The fractional shares interest list is being developed by Vicki Kaplan, www.vickikaplan.com real estate consultant at Arizona Best Real Estate. The other major owner at The Rocks is destination club Exclusive Resorts which owns several homes here, as it does at other Timbers developments.
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- Financial Times Covers Divide and Drool Fractional Ownership.
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