portland, or presented by kathy fettke, bob johnson and fred bates
TRANSCRIPT
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Portland, OR
Presented by Kathy Fettke, Bob Johnson and Fred Bates
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Oregon’s Largest City
• 23rd Most Populous MSA in US
• 3rd Most Populous in Pacific NW
• 2.2 M people living in the MSA
• 582,130 people living in the city
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Most Green City• Considered most “green” city in the US
• Known for land-use planning and light rail
• Downtown living strongly encouraged to cut back on fossil fuel consumption
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City of Roses• Climate: warm, dry summers and rainy but mild winters
• Ideal climate for growing roses.
• Known as the City of Roses because of the many downtown gardens
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“Beervana”• Portland is known for it’s coffee
and homemade beer.
• Oregon Public Broadcasting has documented Portland’s role in the mircrobrew revolution in the US
• Willamette Valley is a leading hop growing region in the US.
• Growth of breweries (28) attributed to local hops, barley and pure water from the Bull Run Watershed.
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the 25 Cent City• In 1843, William Overton saw potential for the land known as the “clearing.”
• He was able to stake his claim: 25 Cents for 640 acres, now known as Portland
• He later sold his stake to Pettygrove, who got the right to name the city after a coin toss.
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Popular Port• Access to the Pacific Ocean, via the Willamette and the Columbia Rivers
• Access to the fertile Tualatin Valley and to US Route 26
• Quickly became the #1 Port of the NW in the 19th Century, so the City grew quickly
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Rip City
• The Willamette River runs North through the City, separating East from the West neighborhoods
• The River veers NW to join the Columbia River, separating Washington from Oregon
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Sports & Attractions
• Trail Blazers (NBA)
• Portland Timbers (Major League Soccer)
• Forest Park (5000 acre park)
• International Rose Garden
• Washington Park
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Portland’s Economy: the Silicon Forest
• Schnitzer Steel and aluminum
• Largest employer: Intel. Over 1200 tech co’s.
• HQ for Adidas, Nike, Columbia and Yakima
• Largest shipper of wheat
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Urban Growth Boundary• Limits development/expansion and use of utilities
• Led to development of downtown
• High density but Forbes rated third safest city in the nation
• Protects farm and rural lands
• Transit-oriented development
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Pearl District • Award-winning shopping, breweries, and restaurants
• Best known art district in Portland
• Considered the “gold standard” of live, work, play and mixed use
• Located on the Willamette river, downtown, near public transit
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Riverscape• Riverfront low-rise town homes with 2-car garages
• First 5 phases sold out when the bank failed
• Construction loan ceased when phase 6 was 70% complete
• FDIC took over the 12.6M loan
• We negotiated a 3M short sale!
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Sales Prices• Original Sales Price for all 27 homes was $21,402,500.
• Our low estimated sales price today: $15,682,000
• Discounted worst-case: $13,848,000
• Price per unit range from $469K - $749K
• 3 pre-sold = 1.9M
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Finishing the project• We have a private lender for the 5.8M construction loan
• Estimated 3 months for completion
• Start with those already in contract.
• We can pre-sell and allow buyer to pick final design
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Pay off schedule• Estimated 2 sales per month -1 year to sell
• Construction loan paid first (estimated 9 months)
• 3M to investors paid next- you get your capital plus 15% preferred return
• You get 20% of the profit (estimated in 16 months)
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The Managing Partners• Fred Bates, New Cities Development. Partial list: Vintage at Almaden Winery, Old Piedmont Rd, Peachtree Park Estates, Walnut Glen Estates, Pasadera CC www.pasadera.com
• Robert Johnson - RWJ Co. http://ic-c.com Partial List: The Dunes Hotel CC Las Vegas, Grand Hyatt, Bank of America HQ’s Palo Alto
• Katherine Fettke -RealWealthNetwork.com Chateau Montclair, Network Capital Fund,TCC, BHR
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Lot 6 Units
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The Process• Read Private Placement Memorandum - Download from www.realwealthnetwork.com/riverscape
• Fill out Subscription Agreement - Download from www.realwealthnetwork.com/riverscape
• Fax to Subscription Agreement to 925-226-4966 or email to [email protected]
• We will send bank info and wire instructions
• Once we receive your funds, you will receive a confirmation