A developer with Maine connections is launching a short-term rental brand geared towards the luxury market.
Mark McClure, a native of Cape Elizabeth who two housing projects underway in southern Maineis 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 properties in Miami Beach to launch the product. The properties are the former boutique hotel Oasis and the Villa Merida, a mansion. GenX Capital invested $9 million to purchase the two properties.
Courtesy / GenX Capital Partners
Marc McClure
“We are creating a premium brand within the Airbnb and short-term rental segment, a brand that focuses on luxury but more than that, offers a suite of amenities and services as well as a concierge service central location that will allow our customers to have access to almost everything they need in this city. Think 5-star hotel service without the hotel crowds,” McClure said. “Less staff and more remote management means higher profit margins.”
GenX Capital is looking to close at least 60 properties over 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 studying the Miami area as well as Delray Beach, Tampa, Orlando, Sarasota “and many other year-round tourist areas across the United States.”
Mainebiz asked McClure, is Maine on the radar?
“Oh heck yes,” he told Mainebiz. “We will be looking for luxury assets – preferably waterfront – in Maine that we can ‘add on’ with high-end amenities and top-notch service, which will be the mainstay of Chill Villas as we move forward. we will develop the brand.”
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