Featured Property: Equity Estates La Jolla, California

By: Destination Club News
Date: April 4, 2010

Spring Break is upon us and destination club hotspots like Cabo San Lucas, Miami, and Punta Cana have been edged out as Equity Estates' residence in La Jolla, California has been voted our destination club property of the week, this week featuring popular spring break locales.

Formerly a part of the now bankrupt LUSSO Collection, the La Jolla property was the backdrop for an interview series with LUSSO CEO Steve Greer. Featuring a stunning architectural design, the nearly 5,000 square foot home is now available to members of Equity Estates.

Spanning four bedrooms and four and one half baths, the property gives members prime access to Sea World, Universal Studios, Disneyland, and the San Diego Zoo & Wild Animal Park and rests just steps from Windansea Beach.

The architectural masterpiece showcases four different levels and includes multiple decks with views of the Pacific. Ideal for family vacations, the residence includes a game room, complete with Wii Gaming Console and pool table, for the kids and a bar and fitness room for adults.

The modern exterior flows seamlessly into the interior, where a contemporary layout awaits members. Oversized windows and large mirrors make the 4,879 square feet of living space even more spacious. The master bathroom features its own fireplace and stylish appointments are found throughout the residence.

Equity Estates properties average $3 million each, but due to the decline in real estate values in recent years, the growing equity destination club has been able to purchase homes at a greatly reduced rate. "We’re finding luxury homes up to 30% off in markets that would have sold at market rate just a few years ago," Adam Capes, President of Equity Estates, told us late in 2008. "Our owners/members love that we are acquiring our portfolio of homes in a down real estate market."

Because of this value proposition, Equity Estates grew their club by 40% in 2009, adding more than 30 members, representing 21 full membership equivalents. "We ended 2009, a perilous year for many, at the top of the industry in regards to performance and yet see endless opportunities for success in 2010 and beyond," said Philip Mekelburg, the club's Co-Founder. "Our growth this past year shows that we are not only the most successful organization in the luxury second home alternative industry, but by far the model that most appeals to savvy buyers."

Due to their unique structure, Equity Estates does not refer to themselves as a destination club, but rather a "luxury residence fund." No matter the branding, to compare Equity Estates to other destination clubs and to receive a list of suggested due diligence points to address when speaking with a destination club, request a free copy of our Destination Club Guide.