All Press Releases for December 14, 2022

GenX Capital and Partners Pay $4.2MM For Miami Villa, Launch Luxury Short Term Rental Brand

The first of two the group will acquire in South Beach, Miami as they launch Chill Villa's, their new luxury short term rental brand

McClure and his team see Chill Villa's as a $100+ million brand within the next 36 months

    MIAMI BEACH, FL, December 14, 2022 /24-7PressRelease/ -- Mark McClure, managing partner of Miami and Portland Maine based GenX Capital Partners and several other partners are launching Chill Villa's, a short-term rental brand that will be geared towards the luxury segment.

The first two acquisitions are 1018 Jefferson Avenue in Miami Beach, formerly the Oasis boutique hotel, and Villa Merida, a luxury mansion at 1545 Meridian Avenue in Miami Beach. The acquisitions are $4.2MM and $4.8MM respectively with the first closing set for today and the second for January 2nd, 2023.

"We are creating a high-end brand within the Airbnb/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. I mean look, we are starting to see major hotel brands branch out and bring townhomes and condos under their umbrella, offering more personalized services and gravitating to building a brand within the short-term rental arena," McClure stated. "Less staffing and more remote management mean higher profit margins," McClure added.

In addition to funds from himself and a few fellow high-net worth investors, a major portion of the financial backing will come from a handful of private equity fund managers who see this as a growing segment that can be scaled into 60+ assets within the next 36-48 months and grow from there. McClure and his team see Chill Villa's as a $100+ million brand within the next 36 months as they look to expand with further acquisitions in the Miami area along with Delray Beach, Tampa, Orlando, Sarasota and many other year-round tourist regions throughout the U.S.

"For the hospitality investor it's a no-brainer. You have the opportunity to create 20,30, 60 plus different guest experiences and maximize profit without tying up capital in one asset that has 20,30 or 60 rooms and making all the experiences uniform. Under our unique brand, each experience will be different and molded to that city and demographic rather than molded to one hotel building and one brand's formula," McClure ended.

Chill Villa's will have both assets live right after Christmas with more properties added throughout the next 36 months.

GenX Capital Partners and Michael Friedman of the Revision Group are not only part of the ownership group, but have underwritten the debt and equity to close both transactions as well as line up the expansion capital for the immediate growth plan.

Neal Deputy of the Keyes Group is brokering both transactions with Scott Silver of Hospitality Funding advising on the acquisition and future growth strategies. Newman Hospitality will manage the assets through their highly advanced short term rental platform while Paula Rodriguez Wallem will lead the FF&E redesign.

"With Chill Villa's you know each of your experiences will be different and molded to that city and specific home, but one thing that will be consistent will be white glove service and top notch FF&E," McClure ended.

# # #

Contact Information

Mark McClure
GenX Capital Partners
Miami, FL
United States
Voice: 305-507-6777
E-Mail: Email Us Here