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Esterre is significantly different as you own an equity interest in a portfolio of second homes in many of Washington’s best destinations. Unlike perpetual ownership in timeshares and fractional, you own your interest in the portfolio of homes for 12 years, after which the homes are sold, and you receive your share of the proceeds. Finally, you have exclusive access to all the homes in the network through the Esterre App.
Esterre’s founder and CEO, Michael Burns, has extensive experience in the shared ownership industry. He led The Walt Disney Company’s entry into the shared ownership business with the highly successful Disney Vacation Club. Additionally, he founded Private Residence Resorts, responsible for the world-class fractional ownership property in Sun Valley, Idaho. The owners of Windermere Real Estate are the other partners of Esterre. Windermere has been a family-owned business for more than 50 years with over 300 offices and 6,500 agents across 9 western states.
Yes, each owner pays their pro-rata share of the annual operating expenses for the homes and other expenses in operating Esterre. These expenses include utilities, landscaping, housekeeping, maintenance, insurance, real estate taxes, accounting, reserves, and professional management. The estimated annual operating costs for 2025 are $12,800 per ownership interest. A detailed summary of the estimated operating budget for 2025 is available in the ownership documents. *Annual operating costs are subject to change on an annual basis
While inflation will likely cause some increase in the annual assessment each year, the management company prioritizes minimizing these increases while maintaining high operating standards. Owners pay for the actual costs incurred, plus a 12% management fee. Additionally, an established and reputable accounting firm conducts an annual audit review for further transparency.
Each ownership interest comes with a defined 12-year term, providing a clear exit strategy. Upon the end of the 12-year period, the homes in the portfolio where your ownership resides will be sold on the open market with the goal of achieving the highest potential sale price.
To ensure everyone’s interests are aligned, the company receives 20% of the homes’ appreciated value upon sale, not the total sales price. This incentivizes the company to acquire the right homes in the right locations at the best possible price, make strategic capital improvements to increase the homes’ value, and to manage and maintain the properties to maximize their price at the end of the term.
The company benefits from a share of the appreciation, motivating us to make sound investment decisions that ultimately benefit you, the owner. Further details are provided in the ownership documents.
Yes, after holding for an initial two-year period, owners can sell their interest either on their own or through the company for a marketing and sales fee of 5%. The price for the ownership interest will be based on the current market pricing, less the number of years used in the ownership term. Complete details regarding the formula and calculations are provided in the ownership documents.
Yes, each Esterre home has a maximum of 8 ownership interests. Buyers, however, can purchase more than one ownership interest.
Each ownership interest is entitled to 32 nights annually across any home in the network providing 8 nights per quarter or season. In addition, owners can book unlimited space available nights within 5 days of the arrival date. Our proprietary reservation system provides for fair and equitable access for all owners, ensuring a balance between high-demand periods, including holidays. Detailed reservation rules and procedures are available in the ownership documents.
Phase 1 includes 5 unique homes in the following Washington destinations: San Juan Island, Whidbey Island, Snoqualmie Summit, Olympic Peninsula, and Fidalgo Island. 10 additional homes across Washington are planned in 2025, with further expansion in the coming years.
The Founder and senior management team of Esterre are all born and raised in the Pacific Northwest and have a passion for the diversity of locations that are offered in Washington. The initial 5 locations were chosen after extensive internal research, and a comprehensive consumer survey. Our portfolio expansion will be based largely around owner and customer feedback.
Esterre is significantly different as you own an equity interest in a portfolio of second homes in many of Washington’s best destinations. Unlike perpetual ownership in timeshares and fractional, you own your interest in the portfolio of homes for 12 years, after which the homes are sold, and you receive your share of the proceeds. Finally, you have exclusive access to all the homes in the network through the Esterre App.
Yes, each owner pays their pro-rata share of the annual operating expenses for the homes and other expenses in operating Esterre. These expenses include utilities, landscaping, housekeeping, maintenance, insurance, real estate taxes, accounting, reserves, and professional management. The estimated annual operating costs for 2025 are $12,800 per ownership interest. A detailed summary of the estimated operating budget for 2025 is available in the ownership documents. *Annual operating costs are subject to change on an annual basis
While inflation will likely cause some increase in the annual assessment each year, the management company prioritizes minimizing these increases while maintaining high operating standards. Owners pay for the actual costs incurred, plus a 10% management fee. Additionally, an established and reputable accounting firm conducts an annual audit review for further transparency.
Each ownership interest comes with a defined 12-year term, providing a clear exit strategy. Upon the end of the 12-year period, the homes in the portfolio where your ownership resides will be sold on the open market with the goal of achieving the highest potential sale price.
To ensure everyone’s interests are aligned, the company receives 20% of the homes’ appreciated value upon sale, not the total sales price. This incentivizes the company to acquire the right homes in the right locations at the best possible price, make strategic capital improvements to increase the homes’ value, and to manage and maintain the properties to maximize their price at the end of the term.
The company benefits from a share of the appreciation, motivating us to make sound investment decisions that ultimately benefit you, the owner. Further details are provided in the ownership documents.
Yes, after holding for an initial two-year period, owners can sell their interest either on their own or through the company for a marketing and sales fee of 5%. The price for the ownership interest will be based on the current market pricing, less the number of years used in the ownership term. Complete details regarding the formula and calculations are provided in the ownership documents.
Yes, each Esterre home has a maximum of eight ownership interests. Buyers, however, can purchase more than one ownership interest.
Each ownership interest is entitled to 32 nights annually across any home in the network providing 8 nights per quarter or season. In addition, owners can book unlimited space available nights within 5 days of the arrival date. Our proprietary reservation system provides for fair and equitable access for all owners, ensuring a balance between high-demand periods, including holidays. Detailed reservation rules and procedures are available in the ownership documents.
Phase 1 includes four unique homes in the following Washington destinations: San Juan Island, Whidbey Island, Snoqualmie Summit, and the Olympic Peninsula. Ten additional homes across Washington are planned in 2025, with further expansion in the coming years.
The Founder and senior management team of Esterre are all born and raised in Pacific Northwest and have a passion for the diversity of locations that are offered in Washington. The initial five locations were chosen after extensive internal research, and a comprehensive consumer survey. Our portfolio expansion will be based around owner and customer feedback.
