Helium Report
(May 15th, 2007)
Helium Report writes that Crescendo investors “saw their properties gain more than 8.8 percent in value last year. Crescendo is a destination club that offers an equity interest in the properties it manages for its members. The key to portfolio appreciation is geographic diversification in one of the highest appreciating classes of real estate. Founded in 2004, Crescendo recently underwent its first round of property appraisals, which, according to president and industry veteran Joe Mitchell, proves the merits of the company’s approach to vacation home ownership.” Read more>

Helium Report
(September 22, 2006)
Helium Report received a long letter from Mark H. (Charlotte, NC), who explains the process behind his family's recent decision to join Crescendo, which Helium Report describes as “a unique destination club structured as a REIT.” Mark writes, “Over the last few years, we had toyed with the idea of buying a lot on the coast for later building or buying a condo. However, our initial enthusiasm to buy was dampened by the high cost of purchasing and maintaining a second home, the time commitment of managing the property, the limited amount of vacation time that we could realistically take, and the desire to visit different destinations.” Read more>

1/7th of Heaven: Fractional Ownership Trends
Prosper Magazine
(August 2006)
Chris Soderquist, Crescendo’s Managing Director is quoted in Prosper Magazine as saying, “We are the best bet for combining lifestyle and investment. When buyers invest in Crescendo, it’s similar to investing in a mutual fund, because they buy into our entire home inventory, not just one particular property. They reap the benefits of diversification while enjoying equity ownership.” Read the rest of the article, titled “1/7th of Heaven: Fractional Ownership Trends”

Crescendo looks for investors, not members
(July 27, 2006)
“Most of the clubs in the industry are ‘non-equity’ meaning that, as a member, you have a membership but not a secured financial interest in the club… As consumers dig even deeper into understanding the financial underpinning of the club they are thinking about joining…firms like Crescendo offer their investors clear financial interest in the real estate. According to Michael Burns, Crescendo chairman, “the primary lure to Crescendo is our unique equity ownership structure. But the ante for our investors is their ability to vacation in extraordinary, custom vacation homes in premier destinations. We are not in the investment nor real estate business. We’re in the experience business.” Read more in a one-on-one interview with Mr. Burns.

Proceed With Caution
How to buy into private destination clubs without getting burned
(June/July 2006)
“Howard Nusbaum, president of the American Resort Development Association, says that before consumers pay hundreds of thousands of dollars for membership, there should be a level of transparency with regards to club assets, operating expenses and fees, and the overall financial health of the club…Crescendo is a destination club structured as an REIT with usage rights. ‘Full transparency is imperative: We know where every penny goes every day, and so do our owners,’ says Chris Soderquist, one of the founders and chief operating officer of Crescendo. ‘They are members only in the most superficial sense. In reality, they own the club. Unlike the first-generation clubs, the members share in the appreciation of our entire real estate portfolio.’”

Trader Monthly
Gimme Shelter
(April/May 2006)
“In the past two years alone, the number of residence clubs worldwide has increased more than threefold. By the end of 2006, it’s projected to be a more than $2 billion industry. Jeremy Wolf, a managing partner at a private equity fund in California, is a member of Crescendo – and a fan of Casa Miramar. ‘At 6,200 square feet, with ocean and golf views, and a private chef and house staff it’s an investment in lifestyle,’ Wolf says. It’s also an investment in three master suites with private balconies, a heated infinity pool, 25-foot cathedral ceilings and an outdoor kitchen – which is great in case you get so tired of your private chef that you can no longer stand having him in the house.” Read more>

Destination Clubs—Do I Get Equity?
Helium Report: Destination Club Guide
(February 13, 2006)
“Our definition of an "equity club" means that the club has to provide the opportunity for members to participate in the appreciation of the underlying real estate assets. By that definition, there is currently only one club that operates that way - Crescendo - and it is structured, as you would expect, as a REIT (real estate investment trust). If you qualify, you are able to invest in the REIT that owns the homes, and as well get access to the homes.” Read more>

Financial Times
(November 29, 2005)
Buying into the second homes club
“Allan Ross wanted to buy a second home. But the chief executive of a Canadian oil and gas research business was having trouble deciding where he wanted it to be. At 50, he had also developed an aversion to certain things that go with home ownership. “I’m not good at cutting grass or putting salt in the salt shaker,” he says, chatting from a $2.5m pied à terre that overlooks Central Park in Manhattan. Ross plans to do the same thing when he visits his two homes on the Pacific coast of Mexico in the next couple of months. Mr Ross’s bounty is not the result of shifting his portfolio into real estate, pilfering his company’s coffers or winning the lottery. He was one of the first to invest in Crescendo, a private equity fund where investors benefit from both the appreciation on the properties it owns and the chance to stay in them a few times a year. In this sense, Crescendo has set itself apart from the 15 companies specialising in the booming business of high-end fractional ownership.”

The Wall Street Journal
(October 22, 2005)
Profiting From Your Vacation
“One downside (with existing destination clubs): Since you’re not buying real estate, you don’t profit if prices rise. Now, however, that’s starting to change – marking a shift in this booming business … one new company, Crescendo, part of Private Residences of the World, LLC in Roseville, Calif., lets buyers share 60% of any appreciation in the 36 or so properties in various locales it intends to buy … Call it a real-estate bet combined with a vacation. It’s also literally a securities offering, with a private placement memorandum listing pages of risks.”

Robb Report Vacation Homes
(Fall 2005)
The Stress Test A new batch of private residence clubs offer worry-free vacations
“Together with fractionals, the private residence club domain has grown into a $1.5 billion industry – one that has tapped a lifestyle need that few knew ran so deeply: the desire for a seamless, stress-free destination experience. ‘We loved the idea of a luxury destination club, but we were not at the stage of life where we could write a check for $300,000 and not have the money working for us. So we began to think that there must be a better way where the economic aspects are as appealing as the lifestyle virtues,’ says Curt Rocca, managing partner of Crescendo.”

The Roseville Press-Tribune
(September 21, 2005)
Money for Something Roseville-based Crescendo debuts, combines luxury vacations with real estate investing
“Different in design from luxury destination clubs that require a deposit with no equity ownership, Crescendo’s owners benefit from the equity appreciation of an entire portfolio of vacation homes in the world’s most desirable destinations. ‘It creates a unique combination of the experience of luxury homes and concierge service and the upside of a real estate investment fund. Call it ‘experience investing’ … this is the future of vacation home ownership and destination clubs,’ said UC Davis Professor Dr. Andrew Hargadon.”

Comstock’s Magazine
(June 2005)
Get Paid to Vacation!
“Why own a second home when you can own 40? Though it sounds sensational, it’s possible – and financially savvy. Crescendo’s palatial properties and proprietary investment model is attracting not only investors, but also key management: Local startup veteran Chris Soderquist is the group’s chief operating officer, and Michael Burns – largely responsible for creating timeshare divisions for Disney and Marriott – was recruited to become Crescendo’s chairman.”

Ventures Magazine
(March/April 2005)
Nouveau Niche Private residence club developer Michael Burns shares the lowdown on the high end
“Fractional ownership is one of the fastest-growing segments of the resort real estate market. With more than a half-billion dollars in sales in 2004, this sector has attracted leading brands such as Fairmont, Ritz-Carlton, and The Four Seasons. But Michael Burns has shown there’s still room for independent developers to compete. Burns parlayed his timeshare experience and entrepreneurial bent to build two luxury fractional resorts in Idaho with annual revenues of more than $10 million, and he has more on the way.”

The Sacramento Bee
(December 15, 2004)
Such a plan: Vacation in style - and cash in
“Unlike other vacation plans, Crescendo investors get an equity interest in all of the properties and stand to gain significant appreciation if prices keep skyrocketing at places such as Los Cabos, Carmel, Telluride and Maui. ‘It's sort of like a mutual fund for vacation properties,’ said Curt Rocca, who came up with the idea while talking with a business partner about timeshares. Both were looking into joining Exclusive Resorts, the vacation club backed by AOL founder Steve Case. Both balked for the same reason: no equity stake.”