A new real estate trend is cropping up in Denver that has the residential market entering a new sector for the area. A new private equity fund based in the city will be focusing strictly on luxury residential resort real estate. Denver will be joined by nearby cities Vail and Aspen as the cities all represent the top-tier resort markets that the company wishes to target. Currently, there are worthy properties in each of these areas where the housing market has cooled off a bit, making the current pricing a bargain time for the company, Occasio Funds, to move in. The company has not acquired anything yet and is still in fundraising mode, however. The company seeks to buy homes in ski areas and beachfront areas that are existing properties but not distressed or foreclosed.
Occasio is Latin for opportunity, and it was started by the owner of Inspirato, a private vacation club started in 2011, and operates on a dynamic of charging annual fees to members and leasing vacation homes. The Denver residential movers are aware that there are about $1 billion in real estate deals that the company is currently interested in. The first close will come in around $25 million.