July 14, 2008

Tresor Properties Acquires Historic Wendt Home in Laguna Beach

Tresor Properties, a premier Laguna Beach real estate investment, construction and brokerage company, announced today that it has closed escrow on the historic Laguna Beach home of renowned California landscape painter William Wendt. The company plans to create a signature community on the 13,000 square foot property that pays tribute to the works of the early 20th century impressionist, known as the "Dean of Southern California Artists."

"Acquiring the Wendt home is an important milestone in Tresor's mission to preserve the heritage of Laguna Beach and its historic relevance in Orange County," said John Fischbeck, general manager of Tresor Properties. "We are delighted to add this significant property to our portfolio of historic and distinctive projects in the city. This acquisition further solidifies our commitment to provide our investors sound assets for future performance."

The company is working closely with the City of Laguna Beach on the proper course for restoring the home and is in the process of securing an historic designation. The original house will be restored as a private, single residence and Tresor hopes to build three additional homes marked by a common theme that recalls Wendt's artistic designs. All of the homes will feature luxurious interiors and ocean views.

William Wendt built the home, one of the earliest art colonies in the Orange County beach city, in 1913 and settled there permanently with his wife, sculptress Julia Bracken, until his death in 1946. The property is located at 229 Arch Street.

About Tresor Properties

Tresor Properties is a Laguna Beach real estate company that uniquely blends investment, construction and brokerage services. The company builds and redevelops luxurious lifestyle communities on exclusive beachfront or ocean view properties in Laguna Beach, Calif. and East Cape, Baja Mexico. In Laguna Beach, Tresor is committed to restoring and preserving the historic significance of landmark properties that signify the city's rich cultural heritage and add to its distinctiveness. For more information, visit www.tresorproperties.com.