Courtesy / GenX Capital Partners
Mark McClure
December 21, 2022
A developer with Maine ties launches Chill Villas to offer luxury short-term rentals
Photo / Fred Field
The Mark, as it will be known, is an $18 million, 45-unit condo building now under construction at 100 U.S. Route 1, on a wooded stretch just south of Tuttle Road.
A developer with Maine connections is launching a short-term rental brand geared toward the luxury market.
Mark McClure, a Cape Elizabeth native who has two housing projects underway in southern Maine, is managing partner of GenX Capital Partners, which is behind the effort.
Chill Villas, as the short-term rental brand will be known, has acquired two Miami Beach properties to launch the product. The properties are the former Oasis boutique hotel and Villa Merida, a private mansion. GenX Capital invested $9 million to buy the two properties.
“We are creating a high-end brand within the Airbnb and short-term rental segment, one that is focused on luxury but more than that, offers a suite of amenities and services as well as a centralized concierge service that will allow our guests to have access to almost anything they need within that city. Think 5-star hotel service without the hotel crowds,” McClure said. “Less staffing and more remote management mean higher profit margins.”
GenX Capital is looking to close on at least 60 properties in the next 36 months.
Capital will come from McClure and a circle of investors, as well as private equity funding.
McClure and his team are looking at the Miami area as well as Delray Beach, Tampa, Orlando, Sarasota “and many other year-round tourist regions throughout the U.S.”
Mainebiz asked McClure, Is Maine on the radar?
“Oh heck yes,” he told Mainebiz. “We will be looking for luxury assets — waterfront preferably — in Maine that we can ‘value add’ with higher end amenities and white glove service, which will be the staple of Chill Villas as we grow the brand.”
Most Recent
Most Recent
0 Comments