Avora Residences, a new residential cruise line, will charter the Seven Seas Navigator from Regent Seven Seas Cruises for a 2028 launch.
The ship will be renamed the Avora Lumina and debut with the new fleet in January 2028.
Another residential cruise line, Crescent Seas, had previously planned to charter the Seven Seas Navigator for its fleet along with Oceania Cruises' Insignia.
Those plans dissolved late last year in favor of plans to launch its fleet with new ships, reported Seatrade Cruise News.
Regent Seven Seas has planned three commemorative voyages in August and October for the Navigator's final season. The 496-guest ship has been in the fleet since 1999 when the cruise line was called Radisson Seven Seas Cruises.
Avora has agreed to a nine-year charter with a purchase option for the ship. It plans to upgrade the staterooms into residences that will range from about 300 square feet to 1,173 square feet. It will also reimagine common spaces and add a "business and global connectivity center."
Residences can be purchased for the life of the ship or a five-year period. Five-year ownership prices will start at about $219,600 with monthly fees from $9,190. Full ownership rates will range from $545,000 to $4.2 million, and monthly fees will start at $8,185. Avora said its prices are "positioned to compete with traditional home ownership in major global cities."
It plans to pay travel advisor commissions.
Avora Residences was founded by Mikael Petterson and Kathy Villalba, who also founded and operate residential cruise line Villa Vie Residences.
Avora's launch will be from Lisbon, and the Lumina will then continuously circumnavigate the world for three years. Port visits will last up to five days. Menus will rotate seasonally and include cuisine inspired by the destination and locally sourced ingredients.