Pursuit

Pursuit Properties markets fractional co-ownership of large land and ranch properties selected for recreational use such as hunting, fishing and backcountry access, alongside lifestyle and investment objectives. Buyers acquire shares in a property (listings are marketed as 1/8 ownership) either by joining an existing owners' group or forming one, and Pursuit sources and vets additional owners where needed. The company also sources properties to buyer specification if none of its vetted listings fit.

After a property is selected, Pursuit forms a property-specific LLC (an "Owners' Club") with up to ten shares, supplies the operating agreement and helps the group set and enforce property rules and protocols. Buyers place a $5,000 refundable deposit, can arrange private property tours, and fund their portion into escrow; once all fractional shares are funded and due diligence is complete, Pursuit executes the acquisition. The Owners' Club owns the property and employs staff, while Pursuit is retained as property manager under a service agreement the club renews.

Management services cover home cleaning, building and property maintenance; game, fish and habitat management including wetlands improvement, fish stocking, game and predator population management and cover improvement; ownership rules, legal and tax incentive administration; and agricultural and livestock operations such as cattle management. The company positions large land holdings as an asset class that carries tax, appreciation and monetization benefits typically available only to very large landowners, and states that properties can produce multiple income streams.

Business model

Pursuit sources and vets large properties, assembles groups of fractional buyers, forms a property-specific LLC for each asset, and is then hired by that owners' club as the ongoing property manager under a renewable service agreement, including management of improvement and construction projects. It also operates a broker channel in which referring brokers earn commissions on clients who purchase through Pursuit, while Pursuit markets broker listings at no charge, performs site visits, due diligence, inspections and escrow, qualifies buyers, and can deploy its own capital to help deals close, including buying only part of a property when a seller wishes to retain ownership.

Revenue is associated with the sale of fractional shares in co-owned properties and with ongoing property management services provided to each Owners' Club under a service agreement; buyers place a $5,000 refundable deposit at the property-selection stage, and owner groups that assemble themselves receive a 1% discount for each fractional share purchased.

Traction

Featured listings offered at 1/8 ownership include Fire Tower Ranch in Ennis, Montana (379 acres, $1.1M), Meadow Lake Ranch in British Columbia (700 acres, $355K), Huerfano River Canyon Ranch in Walsenburg, Colorado (10,130 acres, $1.72M), Clearlake Oaks Ranch in California (526 acres, $146K), and Hacienda Quitralco Fjord in Aysén, Chile (15,246 acres, $1.67M).

Latest developments

The company states it is backed by venture capital investors including Liquid 2 Ventures, Long Journey Ventures, Y Combinator, Garry Tan, Arash Ferdowsi and Paradox Capital.