The EQUITY RESIDENCE CLUB^SM concept is a natural evolution of luxury vacation real estate, and dramatically expands the market. The EQUITY RESIDENCE CLUB^SM structure allows for the sale of fractional real estate interests in a form that is very palatable to high-income buyers.

Although they are a shared-ownership product, EQUITY RESIDENCE CLUB^SM ownership differs significantly from timeshare in terms of pricing, prestige, flexibility and who buys them. An EQUITY RESIDENCE CLUB^SM property is owned and enjoyed much like a private equity golf country club. EQUITY RESIDENCE CLUB^SM members have access to all club residences with the right to use anytime, subject to the reservation policies and availability. Members can reserve club accommodations well in advance and also use them on a short-notice and space-available basis.