Destination club Quintess, LRW ended last year with 87 homes in 32 destinations and a real estate portfolio that tops $300 million, according to the club’s annual letter to members released today.

Quintess added 38 homes in 2007 including four in Deer Valley, one in Tuscany and 16 homes in Los Cabos, Mex. with the announcement of its first member-only enclave, Cielos Palmillas at the Palmilla resort. Much of the the club’s growth was funded by the Future Fund I, a $125 million investment pool that Quintess raised to fund new home development. The Fund, now closed, allowed the destination club to start developing some 24 new properties. The average value of a Quintess home is $4.3 million.

In the letter, Quintess executives also say that the club’s financial statements have been audited by a third-party and that the club is able to cover 100 percent of its membership deposit refunds. The club grew to 435 members last year.

In the first quarter of this year, the club secured a $210 million equity investment, an amount that club executives tout as the single largest capital infusion for a luxury destination club. Quintess also just announced its second member-only enclave on the Turks and Caicos island of West Caicos. The development will be part of the Molasses Reef, a Ritz-Carlton Reserve.