Visions in Action

The Ten Bridges touch is easily identifiable. Look for smart locations, architectural distinction and investors who are seeing their investments pay off. Our vision of providing value to Portland – while delivering profitability to partners – is evident in everything we do.

Palo Cedro, CA – Untangling A Knot of Multiple Owners

A thirty-year old neglected partnership owned this under-performing shopping center. The managing partner owed the business that ran the mini-mart and gas station portion. However, the physical facility itself and the remainder of the shopping center was owned by the partnership, which had seen no income for decades.  Ten Bridges was entrusted to untangle the old partnership structure. Multiple owners were involved, each with  a separate LLC. The loans had matured, the income was insufficient, the partners disagreed, nobody wanted to guarantee a new loan or contribute more equity. The tax and legal consequences were substantial. The condition of the property also exposed the owners to additional liability. Ten Bridges helped negotiate a solution which stabilized the property, the internal business relationships, and most importantly paid off the maturing loans.

The Village at Yachats – Multi-Use Seaside Housing with Sustainable Accents

Yachats, Oregon: “Gem of the Oregon Coast” where Ten Bridges is the principal on purchase, design, entitlement and development of coastal mixed-use village consisting of 51 small (600 SF) sustainable homes and 15,000 SF of retail. This Planned Unit Development included assembling a four-acre commercial ocean view parcel in downtown Yachats and dividing it into individual residential tax lots plus retail. After a year of working with the Oregon Department of Transportation, the planning commission, architects, engineers, the city council and the mayor, the project was approved and embraced by the community. Renewed designs are in the works so a phased approach can be applied to accommodate a revised mixed-use, live-work artisans’ village. Ten Bridges anticipates receiving LEED for Neighborhood status. The first home was built almost entirely out of reclaimed lumber from Eugene, OR. All of the natural springs and storm water are being incorporated into landscape features and bio-retention ponds.

The Vermont House – Landmark Designation and Restoration

This Portland landmark was spared demolition. It was transported from its original location and masterfully restored true to the original Queen Anne Victorian Style of the house. As initiated by Ten Bridges, it is currently being submitted for the National Registry of Historic Homes.

Colonial Office Campus – Salvaging Profitability from a Multi-Owner Mess – Portland

In 2012, Ten Bridges acquired five office buildings totaling 75,000 SF from Providence Medical Center. It was a complex transaction involving a Charitable Remainder Trust, the Providence Board, multiple lenders and parcels coupled with a simultaneous closing. Within the first year, occupancy in the three acre campus was increased by 21%, net profits were doubled and a successful tax appeal reduced yearly property taxes by nearly 50%. Today, Ten Bridges currently holds and manages these properties in its real estate portfolio.

East Burnside – Using the Tax Code for Good – Portland

In 2011, Ten Bridges entered into an option agreement to purchase a triplex on 4 separate tax lots. The option agreement was used to alleviate tax consequences that the seller would have suffered with a traditional sale. In 2013,Ten Bridges renovated the triplex, exercised its option agreement and sold the entire 23,000 sf multifamily parcel to a local builder.

Download East Burnside Brochure

Milwaukie Ave – Researching The Past for New Opportunities – Portland

In 2013, Ten Bridges purchased a 15,000 SF commercial parcel together with a single family home. Using extensive research and a lot conformation process with the City of Portland, Ten Bridges was able to resurrect an abandoned property line. This allowed for the formation of two separate parcels. The traditional lengthy and problematic lot division process was averted, the value was increased and the financing and marketing possibilities were multiplied.

SUMTHING NEW Condominiums – Creating Housing with Sustainable Accents – Portland

This condo project offers high-end and high-density living in an established, well-loved neighborhood in inner Southeast Portland. The three-condo building blends in well with the surrounding single family homes. Bioswales and gardens receive storm water runoff, while large windows allow light to pour through the spaces. Each 1,500 square foot unit has a south facing deck, allowing residents to extend their living space to a quiet refuge away from the street. Demian Heald along with Eric Hoffman and Matt Loosemore at SUM Design Studios co-developed this project.  This included designing the project, finalizing a loan package, selecting a contractor and selling the units.

“District” – Belmont Apartments – Neighborhood/Connectivity/Design

The Belmont Apartments reclaim an urban in-fill site in this vibrant Southeast Portland district and create a new mixed-use opportunity for the area. Belmont is a street of particular interest because, despite its proximity to downtown, it still holds underdeveloped properties and other lots that are similar in nature to the subject site. This project encourages connectivity between upper and lower Belmont and helps fill the void that currently exist.  Through high quality design, the implementation of energy saving features, small units and LEED certification, we will be able to produce a specialty boutique style of multifamily mixed-use development that will exemplify city living and demonstrate the demand for this kind of product.

Download Belmont Lender Book – April2013