Shared Estates Launches $1.9 Million Crowdfunding Raise to Acquire The Kemble Inn
The Kemble Inn, a 15,000 square foot historic estate built for a U.S. Secretary of State set to become a community-owned asset
“Traditionally these estates were built for and owned only by the wealthiest families in the world, but now for the first time people from Main Street can pool resources to own and benefit from these unique real estate investments,” said Daniel Dus, founder, Manager of Shared Estates, the largest real estate syndicator in the Berkshires of Western Massachusetts. “The minimum investment in our last project, The Freeman Berkshires, was just $1,000, but 141 investors became owners of an 11,300 square foot estate on 40 acres. This just wasn’t possible until now. We are especially excited about the potential of The Kemble, which exceeded $960,000 in revenues in 2019 with only nine of its thirteen bedroom renovated.”
Shared Estates has a mission to democratize and preserve the world’s finest historic real estate by creating modern, luxurious and sustainable properties for rental in the sharing economy. Today the company announces the launch of a $1.9 million investment raise to convert The Kemble Inn (2 Kemble St), one of Lenox’s finest hospitality destinations, into a community owned investment vehicle.
Shared Estate’s Manager, Daniel Dus, previously developed the #1 property on VRBO in the market, The Playhouse, as seen on Netflix’s “World’s Most Amazing Vacation Rentals” series.
“The Kemble, built in 1880 for the U.S. Secretary of State, is a magnificent property with breath-taking views. Our substantial renovations will be focused on the remaining bedrooms and a long list of experience-based amenities” said Daniel Dus, Founder, Managing Director of Shared Estates. “With virtual reality gaming rooms, vineyards and property-to-table produce, our unique model allows us to provide the best amenities and keep the cost per guest lower than standard hotel rooms. Although The Kemble Inn was challenged by the early months of the pandemic, its 2019 revenues exceeded $960,000. We expect to achieve significant synergies through its addition to the Shared Estates portfolio of ultra-luxury Berkshires estates.”
Shared Estates was focused on rural American real estate before the COVID crisis, which has sadly created a heyday for the company’s assets, with Airbnb reporting 25%+ increases in rural rentals, and iBerkshires stating that there is a “buying frenzy” in the market.
The company aims to add a variety of amenities to enhance guest experiences at The Kemble, including tennis court, pool, labelled English garden, extensive outdoor patios and newly planted vineyard. The property will be home to a collection of fine art originals and an extensive sculpture garden.
“Our properties promote local businesses and each donates a percentage of profits to a local non-profit. The equity crowdfunding that is core to our model also creates the opportunity for Berkshire County residents to invest in fractional ownership of luxury properties, allowing everyone to benefit from the strong tourist economy we’ve grown up with,” said Daniel.
About Shared Estates Asset Fund GP, LLC
Shared Estates Asset Fund (the Sponsor) has a mission to democratize and preserve the world’s finest historic real estate by creating modern, luxurious and sustainable properties for rental in the sharing economy. We bring newly modernized, high-end historic properties to the market for a lower cost per person than standard hotel rooms. Through the creation of sustainable jobs and fuelling robust local tourist economies, the Fund is driving revitalization of beautiful rural areas. The Fund's properties will be financed through Regulation Crowdfunding, so that our local communities and customers, whether from Wall Street or Main Street, can participate. Each property will raise awareness for, and donate a percentage of its profit to, a nonprofit organization.
For more information visit us at http://www.sharedestates.fund
About The Kemble Inn
A top-five rated Inn in Lenox on TripAdvisor, The Kemble Inn is a Gilded Age mansion with a modern heart – all the grandeur of the past with the look and feel of the future. Kemble Inn is your chic escape, no matter the time of year. With fireplaces and heated bathroom floors in nearly every room, there’s never a bad time for a mountain getaway in the heart of Lenox.