Hospitality and Financial Experts Launch Equity Residences: Real Estate Investments with a Perk
Summary
The funds are focused on acquiring properties in desirable locations at discounted/distressed prices – purchased for 50 cents or less on the dollar – to optimize long-term appreciation.As an added perk, investors can select any properties in their respective fund for personal vacations or they can send guests, with rental income covering all or most of the operating costs.We’re looking forward to many memorable vacations to come.” In addition to Dering, there are three other founding directors of Equity Residences, who bring more than 100 years of collective industry experience: John Long is a long-time consultant for strategy, marketing, and new ventures who started his career at McKinsey & Company; Greg Salley is an experienced investor in real estate and foreclosures and the former global vice president of strategy at SAP; and Ken Hamlet is a senior advisor at Crestview Partners and previously served as the president and CEO of Holiday Inns, Inc. Hotel Group.The company’s focus is making vacation home ownership financially attractive – and attainable – by taking advantage of an unprecedented real estate investment environment.We’re looking forward to many memorable vacations to come.”In addition to Dering, there are three other founding directors of Equity Residences, who bring more than 100 years of collective industry experience: John Long is a long-time consultant for strategy, marketing, and new ventures who started his career at McKinsey & Company; Greg Salley is an experienced investor in real estate and foreclosures and the former global vice president of strategy at SAP; and Ken Hamlet is a senior advisor at Crestview Partners and previously served as the president and CEO of Holiday Inns, Inc. Hotel Group.“Many investment funds have had success with single market home investment portfolios, and now Equity Residences is making a similar opportunity available with luxury vacation real estate portfolios,” added Salley.