Tuesday, 28 June 2016
Last updated 42 min ago
Aug 26 2010 | 12:49pm ET
A new hedge fund aims to fill a very, very specific market niche: A string of high-end resorts catering to the well-heeled and lead-footed.
The Princes Gate Group’s new Opportunistic Real Estate program will fund a series of “resorts centered on the passion for exclusive sports cars,” which Princes Gate promises is “a market niche that has so far remained unexplored.” The first “Tycoonaire Gentlemen Sport Driving Resort” is expected break ground on the French Riviera as early as next year, with future locations in equally exquisite places planned.
Each resort will offer tycoonaire gentlemen five-star accommodations, a spa, tennis courts, a polo field, a go-kart circuit for children, and the “technology farm” for developing new green technologies that all well-heeled travelers are looking for these days. Oh, and of course a “safe and secure” race track for all of the gentlemen drivers to drive very fast on, somehow in an environmentally sustainable way.
What’s more, those who come and and to stay will have the option of buying individual villas or condos.
Not a tycoonaire gentleman but hope to make money off of them? Princes Gate wants to help, saying the new program will provide “sustainable and strong returns in a controlled risk environment,” including semi-annual dividends and hoped-for double-digit returns.