Investor Spotlight: Karen and Andrew
Karen, a New York City based insurance risk manager and an Equity Residences investor, is “becoming spoiled.” After investing in the real estate private equity fund and enjoying many vacations in multi-million homes that she likes to share with family and friends, she thinks that her investment is paying off in many ways.
We asked Karen about her decision to invest with Equity Residences and the highlights of her experiences. Enjoy the food for thought below (and get a little jealous):
Karen came across Equity Residences when the fund had just five properties. After doing her research and looking at other different vacation models, including time-share and fractional ownership, Karen pulled the trigger on her investment with Equity Residences.
Karen, who is used to calculating monetary “risk – reward and value of an investment”, found that the time she spent with family and friends is a priceless perk of becoming an Equity Residences investor. Because Karen and her husband (Andrew) have access to large properties through Equity Residences and strategic partners Third Home and Elite Alliance, it makes it easy to invite their loved ones on luxury vacations without anyone having to worry about spending money on hotels. Karen says that, before investing, she “did a lot of investigation, did all the math, and happily invested” And the more she uses the homes, the experience gets “better and better.”
Since investing, Karen has recommended Equity Residences to her friends, who also chose to become investors. They shared memorable trips together, some of which we highlight below:
In December, 2014 Karen and Andrew assembled their California friends at Equity Residences Palm Springs residence for a “special college reunion/NYE occasion.” After not having seen her college best friends for years, Karen wanted to bring her friends from the Golden State under one roof for a celebration. They invited all the friends over and celebrated a reunion and New Year’s Eve at the residence.
The Deer Valley home was Instagram-worthy and inspirational enough to beg an invitation from friends of friends to join the fun. Karen and Andrew went to the residence with friends, forming a party of 3 couples. The 6 bedroom home served as a perfect winter getaway to celebrate Chinese New Year and have a Super Bowl celebration. Karen organized a festive Chinese hot pot dinner for the celebrations which is still fondly remembered and often spoken about by her friends.
In May 2015, Karen joined friends and fellow Equity Residences investors for a week at The Big Island of Hawaii residence, the one featured on the HGTV show “Building Hawaii” for its unique finishes and stunning views. The vacation was a memorable one for its discovery of an authentic local coffee shop and getting lost in some gorgeous Hawaiian mountains while trying to locate the place, and lounging in the gorgeous pool overlooking the Pacific Ocean.
Karen’s friends who are also Equity Residences investors booked a residence in Marathon Key Florida, bringing friends together for some fun under the sun once again. Karen says that, although she had to work, she “really enjoyed the open floorplan home: “they enjoyed cooking in the Chef’s kitchen, the outdoor pool, being outside and dancing with the kids.”
One of the experiences Karen likes to talk about is the vacation on the beach near San Diego, California, which she booked through the Equity Residences partner Third Home. Karen says that “one of reasons” she picked that location is because she has a lot of LA friends. As a result, her friends and parents came. The “trip was wonderful” because “every night” they “had different friends visiting and cooking at the place, so there was no reason to go out for dinner. I think we just had a really memorable experience together. Every night was amazing!”
And indeed, food is an important experience to be shared. Cooking together is celebrating community. While small New York City apartments do not permit big family- style dinners to be cooked and served every night, Equity Residences investors get out of the city and make the most out of their precious time with friends and family.
Other destinations Karen has taken advantage of include Longboat Key Florida, The Reefs Club and the Residence Club at Tuckers Point in Bermuda, the Four Seasons Residence Club in Carlsbad CA, the Grand Isle Resort and Spa in the Bahamas, Seven Canyons Villas in Sedona AZ, Old Greenwood in Lake Tahoe, the Hamptons twice, Cape Cod twice, Ft Lauderdale FL, North Carolina, Kent Island Maryland. She already has more trips planned to Bethany Beach Delaware, Lake Winnipesaukee in New Hampshire and Turks and Caicos.