When I travel, I am one of those guys who likes to do it right. One big trip per year. If it is skiiing, it has to be ski in/ski out and of course, if it is a beach trip, it has to be beach front. Not because I can necessarily afford it, but with two young kids and what seems to be lesss vacation time each year, location matters. Although I am lucky enough to live in one of the most impressive and geographically diverse countries in the world, Costa Rica, I have also learned that the above stands true for my domestic vacations as well. So, when I was given the opportunity to check out a new real estate development on the white sand beaches of Flamingo, I gladly accepted.
All I was told was that the project consisted of a @ 25, luxurious villas situated directly on the white sands of Playa Flamingo and that the details of the offering would be explained to me upon my arrival. They had me at 25 luxurious villas on the sand. The invitation was actually sent out by a fellow Executive Committee Member of the Board of Regents at Luxury Real Estate, Peter Kempf. Peter is a US colleague who has been living in Florence for nearly a decade, spearing up their European office of PKI, an international real estate firm specializing in the development and structuring of Private Residence Clubs across the globe from the Austria Haus in Vail, to Palazzo Tournabouni in Italy. I was set to meet Peter, his partners Randy and Eric, as well as the developers of the project who are from Sacramento, California.
So my brother and partner, Scott, drove up less than 3 1/2 hours from our office in San Jose and pulled in the gates right around sunset. The guard was waiting for us, and as we rolled down the window, he said: “Oh, the Cutter’s, we have been waiting for you. Please park in door in front of Villa 4 and the bellman will take your bags into your room. What is your favorite cocktail?” Not a bad start and reminded me of places I generally could not afford to visit 
So we followed the instructions and parked at the villa, and sure enough, a middle aged Costa Rica dressed in Palms uniform took our bags for us as well walked into the villa. As the door opened, I was extremely impressed (not an easy task considering the amount of real estate I see every day) with attention to details, impeccable marble floors, tropical hardwood accents, wine bar with onyx backlit details, Viking appliances throughout the kitchen to name a few. Of course those details were dwarfed with what my eyes saw next; as I looked towards to back of the sprawling first floor of the villa, the folding, floor to ceiling glass doors were open to the expansive first floor terrace, and a panoramic view of the grounds was dizzying. Just beyond the terrace which was lined with marble floors, and a half stone wall for privacy, the sounds and sights of the Pacific Ocean, the white sand beach of Playa Flamingo, the lush and ample gardens, and the beachfront infinity edge pool tipped my hat at what was to come. Not only were we standing beachfront in one of the most impressive beaches in Costa Rica, it was one of the few flat, user friendly properties that I had seen in Costa Rica. With most of the beachfront property here with dramatic, yet challenging topography, it is quite rare to see a property that expands horizontally in this nature. Thirty seconds later, a jovial guy with a smile from ear to ear, and spiked silver hair glided across the pool deck and over to our terrace. Mr Cutter (s), I am Roy, and will be at your service during your stay…here are your welcome drinks. Welcome to the Palms Private Residence Club.
Now, this was my cup of tea, a lifestyle I could easily get used to. For the moment, we skipped the tour of the rest of the villa as plush as it was, to check out the backdrop in front of our eyes. An impressive setting in a v shape, designed so that each villa has unobstructed views of the gardens, pool, and of course Pacific Ocean in the backdrop. In addition, also striking to me, was the amount of green areas that had been preserved providing a very low density ratio on the property and an ideal area for the kids to run around. Each villa has a stone path leading out to the internal sidewalks, pool, beach, and first class beachfront gym (I would not be seeing much of the inside of that amenity, I must admit).
So we strolled out to the poolside bar to join our company, and were welcomed by the developers, their families, as well as the team from Peter Kempf International. We enjoyed sunset drinks by the pool, and then made our way over to the grilling and entertainment area for a fresh cooked, gourmet meal cooked by Roy, including fresh tuna and steak tenderloin. Over dinner, my real estate intrigue took over and started asking the questions…. Although without a doubt one of the most stunning real estate developments I had seen, what is the structure. This is a market in which $1,300,000 villas are not easy to be absorbed when buyers in today’s second home market are looking for value, in addition to luxury, location, convenience and service.
After our long and enjoyable dinner, what stuck best with me to describe what the structure of this Private Residence Club was this analogy: “It is just like a golf club membership. When you join the country club, how many tee times are you allowed.”/…As many as I want, I answered….Exactly. It is as easy as that. Of course, unlike a golf country club, here, members are buying 1/8th or 1/10th interests, with deeded ownership. However, the usage works the same…..just because you can play golf as much as you like, you still have to follow the process to make a tee time and making your tee time does not mean you can play every Sunday at 8.”
So, I was explained, for a starting price of $129,000, members were buying a deeded interest in the Private Residence Club, which allowed for UNLIMITED usage, simply by following EXTREMELY flexible reservation policies. No weeks, no points, no timeshares, no block out dates and exclusive to say the least. No rentals were allowed neither by the developer, nor members, to ensure availability year round for its members. I was truly intrigued to see a solution to provide today’s clients, who although have the liquidity to purchase a million dollar villa, prefer to buy at a price more in line with their usage and more importantly, prefer a place that is maintained 100% for them like a 5 star hotel. The location, the luxury, the service and the true turn key aspect of the offering is the true draw, and the beauty of the product both in its unique setting, and premiere luxury are the given.
Since this initial trip, I have been back as a member dozens of time in the first 6 months, with my wife and two young children. It was during these trips that I really began to envision the future of this club. A legacy for members to enjoy with their children, their grandchildren and generations to come. With deeded ownership and a cost of just $129,000 and $149,000 respectively, it was a small price to pay for the highest level of luxury, and the memories and pleasure that each family would enjoy for generations to come
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