Equity Residences’ Euro Fund Adds First Two Luxury European Homes

Equity Residences is expanding in Europe with the first two acquisitions for the new Equity Euro Fund. Both additions are restored and remodeled 16th-century residences, centrally located in the cities of Florence and Rome, Italy. These homes build on Equity Residences existing locations in Siena, Italy, Barcelona, Spain and Mykonos, Greece and reflect a targeted strategy focused on acquiring high-quality homes in prime locations.

Equity Euro Fund Background

The €33 million Equity Euro Fund is structured to build a diversified portfolio of 12 luxury residences across Europe.

As with the firm’s other funds, the approach combines disciplined real estate acquisition with a usage model that allows investors to access the homes for memorable vacations. Once investors have booked their time for the year, the fund rents out some of the remaining time to help cover the homes' running costs and keep investors' dues lower.

Florence, Italy

The Florence residence is a three-bedroom apartment with an elevator, located steps from the Duomo, within the city’s historic center. The acquisition was sourced through a targeted search focused on homes that could legally support short-term rental activity under Florence’s evolving regulatory environment. The apartment was painstakingly restored over a 5-year period with original 16th-century frescos (see above).

The transaction included both the real estate and the business activity, allowing the Fund to operate within local requirements from day one, with anticipated availability this summer.

The 210-square-meter residence was once the library in a historic 16th-century palace, and guests can enjoy a private balcony with direct views of the famous Duomo (see below). The long restoration produced a unique blend of Renaissance character and contemporary comfort, featuring updated bathrooms, a fully equipped kitchen, and elegant hardwood flooring throughout.

Only a two-minute walk from the Duomo and close to the major cultural landmarks, the residence offers direct access to Florence’s core historical and cultural assets, aligning with the Fund’s focus on prime, centrally located residences.

Rome, Italy

The second addition is a historic 3-bedroom apartment located in the Centro Storico of Rome, ideally positioned between the Trevi Fountain (4-minute walk) and the Spanish Steps (6-minute walk), surrounded by designer shops and restaurants.

Situated on the top floor of a historic building with elevator access, the 16th-century apartment has been recently remodeled to include a modern kitchen and three full bathrooms, while preserving tall ceilings with exposed wooden beams. The layout features two master suites on opposite sides of the residence, offering privacy and flexibility for families or groups.

Equity Euro Fund Strategy and Value Proposition

The Equity Euro Fund enables investors to own a diversified portfolio of luxury vacation homes with a defined exit after 10 to 12 years and a focus on capital appreciation supported by carefully selected acquisitions in prime locations. Investors also appreciate the opportunity to diversify their investment portfolio into euro-denominated assets to reduce their US dollar investment concentration with investment interests starting at €239,500.

In addition to the investment component, the model incorporates a usage structure that allows investors to stay in their homes without nightly rental costs. Investors also have access to residences across both the European and North American portfolios, creating a broader network of destinations without the burden of direct ownership in a single home. As the portfolio grows, the value proposition becomes increasingly tied to both the underlying real estate and the flexibility of accessing multiple homes across regions.

The portfolio is diversified across multiple countries and markets, allowing investors to benefit from geographic diversification while maintaining access to a consistent level of quality and management. Investors can move seamlessly between homes in different countries, combining lifestyle flexibility with a structured investment approach. Investors also benefit from rent-free stays across the portfolio with no blackout dates, offering the flexibility to travel on their own schedule while enjoying a consistently managed experience.

For investors seeking international real estate exposure combined with personal use, the Equity Euro Fund reflects a continuation of Equity Residences’ hybrid approach to portfolio construction and travel access.