Equity Destination club 21-5 is adding another owner Association to appeal to vacation home owners across the USA. The new “All American” Association plans to buy homes in Maui, New York City, Vail Valley, US Virgin Islands and Sonoma.
21-5 established its first Association with 21 families in Europe in 2012. Since that time over 700 families have joined new Associations. The first four North American Associations were launched in the fall of 2020, with two East Coast based and two West Coast based.
This new Association has a broader geographical spread and is aimed at investors who are looking for a wider selection of homes. “Since launch last Fall we have experienced a tremendous interest for the concept and hope to inaugurate later this year,” said Tomas Bruun, Vice President 21-5 USA, then added “this has also inspired us to offer something broader now that COVID is coming under control and people can travel again.”
Homes & Locations
The roughly $4m homes and villas in the new All American Association will have 4 - 5 bedrooms, with ample space to house at least 10 people on vacation. The slightly smaller New York City home will have 3 bedrooms in a centrally located condo.
The three homes in Maui, US Virgin Islands and Sonoma aim to provide a private pool at the properties, and the Vail Valley home will feature a jacuzzi.
21-5 manages the homes on behalf of the 21 families and takes care of all administration including property management, paying utilities, repairs, cleaning and garden service and all the communication with the owners.
Membership and Pricing
The investment for each family in the “All American” is $950,000 and the monthly maintenance fee is $1,425 per family, which covers insurance, local taxes and routine maintenance.
“We have about half the families needed to inaugurate the new Association,” stated Tomas.
Each family has about 12 weeks available each year and 21-5 says that across all their associations they see families on average using about 9 weeks per year. With so much time available, family members and friends can stay even if the owners are not present. Members can also exchange across different Associations, so US owners can travel to the 150 homes across Europe.
Each association has their own website where owners can reserve homes, and see all the documents, reports, budgets etc related to their Association.
“It’s been our best year ever in Europe, we opened six Associations in a COVID year” noted Tomas, “and we’re close to completing two more in Sweden and one in Norway.”
Editorial Update: Since we published this article, 21-5 Corporate Office in Denmark has decided to pull out of the US market and not start any US or Canadian based Associations.