Resort Equities, a managing company offering fractional ownership in Lake Tahoe, Hawaii, and Italy, has announced its first property in San Francisco, the Odeon Penthouse.

The Odeon is a three bedroom, two bathroom, 2500 square-foot residence, located one block from the shopping district of Union Square, near the Powell Street turnabout of the historic cable cars. Resort Equities is currently selling 1/8th deeded ownership interests starting at $375,000.

Resort Equities offers a different approach to luxury vacation homes and private residence clubs. Instead of owning a building where multiple residences are sold in fractional shares, Resort Equities manages ten residences in four locations. Owners buy a deeded interest in one specific property, which allows them to access Resort Equities’ network of properties. One-sixth and one-eighth fractions are available.

Helium Report spoke with Resort Equities Managing Partner, Keith Cox, about the challenges posed by having properties in different locations. “We don’t face too many challenges from the de-centralized maintenance perspective,” said Cox. “In fact, we keep a full time property manager/sales/marketing person in Tahoe, and we hire property managers at all other properties for normal maintenance.” Their property in Tuscany has an onsite caretaker and grounds keeper. Cox also indicated that they are in the process of expanding their portfolio of available properties, especially in Hawaii with new properties planned on Big Island and Kauai’i.

Only a few fractional ownership options are available in the San Francisco real estate market. The Ritz-Carlton Club and Residencies, opening later this year, and the Fairmont Residences will offer fractional ownership models in the city.

Helium Report analysts offer an independent Private Residence Club guide, which you may request here.