Luxury homes divided by four.

• Author: SCHWAB, ROBERT
• Position: Timeshare service and company information - Brief Article

BRAD CARNER HAS PUT A NEW spin on time-sharing. Instead of splitting up use of a condo or a townhouse, Carner is talking to some big-money customers about sharing a whole house. Specifically, multi-million dollar homes in Aspen -- where houses don't cost less than a million.

Carner's two-year-old company, Aspen Interests, has already bought four Aspen homes and is selling quarter or half interests in the properties for prices ranging from $735,000 to $1.175 million per quarter interest.

Aspen Interests also owns an $8 million home in Jackson Hole, several high-rise luxury condominiums in Chicago and is negotiating for a couple of condos in Lower Downtown Denver and a corporate residence in Manhattan.

All of it, says Carner, will be for sale to people who want a second home but don't want to buy tiny fractions of tiny units. They are also homebuyers who don't want to plunk down a full $4 million to $10 million purchase price for a luxury house or apartment that they might use only 45 days out of the year.

Carner and a partner have self-funded the business, which already has spent some big bucks on the properties. So far, they have sold only six interests to property owners.

But Carner says he hopes to be selling out the properties in four...