How is Esterre different from timeshares and fractional ownership?

Esterre isn’t about points or weeks — it’s about real co-ownership. When you join, you own an equity interest in a curated collection of second homes across Washington’s most inspiring destinations. Unlike perpetual timeshare or fractional models, your ownership is for a defined 12-year term. At the end of that term, the homes are sold and the proceeds are distributed among the owners.

Throughout your ownership, you have exclusive access to all homes through the Esterre App, designed to make planning your time away feel simple and effortless.

Who is behind Esterre?

Esterre was founded by Michael Burns, a leader in the shared ownership space who previously led the creation of the Disney Vacation Club and Private Residence Resorts.

He’s joined by the owners of Windermere Real Estate, a trusted, family-owned firm with over 6,500 agents across 300+ offices in the West. Together, they bring decades of real estate and hospitality expertise to this next chapter in second homeownership.

How can I use my nights?

Your nights are yours to enjoy across all Esterre homes, with flexible options designed to fit a range of travel rhythms. Whether you plan well in advance or decide to go on a whim, you’ll have guaranteed nights each year, along with the opportunity to book last-minute getaways when homes are available.

Each ownership tier comes with a set number of guaranteed nights per year, divided evenly across seasons to ensure balanced access. You can book up to 12 months in advance through the Esterre App, assign nights to family or friends, and, depending on your tier, take advantage of “space-available” stays booked within five days of arrival. It’s designed to make coming back feel as effortless as the time away.

Are there annual costs beyond the purchase price?

Yes. Each owner pays a pro-rata share of annual operating expenses, covering:

• Utilities and housekeeping

• Maintenance and landscaping

• Insurance (property and liability)

• Real estate taxes

• Reserves for future replacements and upgrades

• Property management, accounting, and administration

• Reservation app and association dues

• Management fee

Will these annual costs go up over time?

They will likely increase annually in line with inflation, but the management company is committed to keeping costs reasonable while maintaining high standards.

• A 12% management fee is included

• An independent audit review is conducted annually for transparency

How long is the ownership term — and what happens at the end?

Your term of ownership is for 12 years, and for this first portfolio of five homes, the 12-year term will begin once all the ownership interests are sold. At the end of the term:

• Homes in the portfolio are sold at their highest achievable market price

• You receive your pro-rata share of the total proceeds from the sale of all five homes

• Esterre receives 20% of the appreciated value (not the total sale price), which aligns the company’s interest with yours, ensuring that the company purchases homes in the right locations at the right price, makes appropriate capital investments in the homes, and manages and maintains them to maximize their value at the end of the 12-year term.

Can I resell my ownership before the term ends?

Yes, after a two-year minimum hold period, you may:

• Sell your interest independently, or

• Have Esterre sell it for a 5% marketing and sales fee

Resale pricing is based on the market value at the time it’s sold and adjusted for the number of years remaining in your term.

How many owners per home? Can I buy more than one interest?

Each home has a maximum of 8 Premier-tier ownership interests or 16 Signature-tier ownership interests, or a combination of the two. For all five homes, the total number of interests cannot exceed 80 if all were sold at the Signature-tier level. Multiple interests are available for purchase for those with more discretionary time and family needs.

How many nights do I get?

Each Premier Tier ownership interest includes:

• 32 guaranteed nights per year (8 per quarter, 4 weekend max, 1 holiday)

• Unlimited “space-available” nights, booked within 5 days of arrival

Each Signature Tier ownership interest includes:

• 16 guaranteed nights per year (4 per quarter, 2 weekend max, 1 holiday every two years)

• 3 “space-available” nights per quarter, booked within 5 days of arrival

How many homes are in the portfolio now — and what’s next?

Phase 1 includes 5 homes in the following locations:

• San Juan Island

• Snoqualmie Summit

• Whidbey Island

• Olympic Peninsuala

• Fidalgo Island

Once all the interests are sold in these first five homes, we plan to continue adding homes in places like Leavenworth, Lake Chelan, Seabrook on the Washington Coast, the Methow Valley, and more homes in the San Juan Islands.

Will I have a say in where new homes are added?

Yes. Owner feedback helps guide future locations. As we grow, we’ll continue to listen to the needs and preferences of our owner community.