Mirabella Estates
Resignation and Redemption

"Mirabella Estates, LP has been specifically established to offer a consistent, low-risk, high-liquidity vehicle to obtain Exclusive Access Rights in a portfolio of multi-million-dollar resort homes. Though you will own an Interest in Mirabella, you will have no direct responsibility for any operating losses and will never be subject to any special assessments or be required to make any additional capital contributions. You may resign from Mirabella and the Club at any time, and Mirabella will repurchase your Interest at 90% of the then-current market price for a similar Interest. Even if prices decrease in the future, you are guaranteed a minimum of 90% of the purchase price of your Interest. To ensure compliance with state and federal securities laws, Mirabella can refund an amount up to a maximum of the initial purchase price for your Interest plus the initiation fee plus the total of all annual Club membership fees you have paid to date."

While this type of membership structure is increasingly popular today within the destination club industry, Mirabella Estates' resignation model was quite unique for its time.

Some of today's clubs that operate under similar structures do not have a cap on the total amount that can be refunded to resigning members. Under the structure laid out by Mirabella Estates, a member could theoretically travel for free if the cost of membership increased enough to pay for the full membership deposit paid to join and to cover the annual dues charged by the club.

Prior to making significant headway in the destination club sector, the young club was acquired by Exclusive Resorts, another new organization that would soon dominate the space for years to come.

The acquisition included select Mirabella Estates properties, proprietary marketing data, and customer service software amongst others. While specifics of the acquisition were not made available, the assets of Mirabella Estates were estimated to be roughly $20 million.

There are countless other resignation and redemption structures used throughout the destination club industry, each with their own benefits and risks. To better understand the resignation process and to receive a list of suggested due diligence questions pertaining to resigning and redeeming your destination club membership, request a free copy of our Destination Club Guide.