Following the passage of Measure 5, Oregon State transferred its property tax appeals from the Dept. of Revenue to The Courts.  A whole new system had to be created including rules, laws, procedures and the appeal process itself.  The Chief Hearings Officer for the State of Oregon, Scott Phinney, was one of the co-creators of the Magistrate Court and much of the current property tax appeal system.  Since then Mr. Phinney has spent 2 decades in private practice expanding his sphere of excellence to include property tax appeals in Oregon, Washington and California.  He has worked on successful property tax appeals on single assets and multi-billion dollar portfolios for a “Who’s Who of Big Business”:

• US Bank
• FDIC
• Hilton Hotels
• Marriott
• Rite Aid
• Met Life

Mr. Phinney’s talk will cover the broad strokes of the Oregon Property Tax Appeals system; I will use CCIM type techniques to quantify the potential short and long term values of appeals.  We’ll also show how real estate and accounting pros can promote appeals as a client development tactic.  We will also dispel misconceptions and bust myths about Oregon Property Tax appeals:

• “It’s not possible to win a property tax appeal in Oregon” (Wrong.)
• “You have to get the Market Value down to the Assessed Value to earn a compression refund.”  (Wrong.)
• “You just can’t win apartment appeals.” (Wrong.)
• “There is no system to appeal personal property assessments. (Wrong.)
• “I have to pay lots of money upfront to appeal my property taxes. (Wrong.)

Time permitting Scott will also talk about the most frequently overlooked property tax break that is missed by over 80% of the qualifying projects.  In one case Scott found overpayments of $506,000 on a single project.

Please contact Rick M. Bean at 503.577.1034 or rick@primeptn.com for pricing and details.

Thursday, May 19, 2011

11:30 a.m. – 1:00 p.m.

Governor Hotel

614 SW 11th Ave., 4th Floor Ballroom

Portland OR 97205

Twice a year, Sustainable Business Oregon honors organizations that are exploring new ways to align business with sustainability. This spring, they have singled out true innovators in four categories. Join them for an exciting luncheon honoring these innovators and featuring a keynote address by Martha Wyrsch, President of Vestas American Wind Technology.

Martha Wyrsch is President of Vestas-American Wind Technology, Inc., the North American arm of Vestas Wind Systems, the world’s largest manufacturer of wind turbines. Wyrsch joined Vestas in June 2009.

Award finalists are:

Innovation in a Sustainable Product:

Indow Windows

LeanPath Inc.

Solamor Event Services

Innovation in Sustainable Operations:

Miranda Homes

Myers Container

Pacific Foods of Oregon

Innovation in Sustainable Supply Chain:

Burgerville Corp.

Monster Electrical Inc.

Portland Roasting

Innovation in Sustainable Business Advocacy:

GoGreen Conference

Oregon BEST

Steele Associates Architects

Don’t miss this fascinating event!

Questions call Jan at 503.219.34

via May – Sustainable Business Oregon Luncheon 2011 – Portland Business Journal.

Light rail service expanding to Milwaukie

Many of you know that a $1.5B  expansion is underway to extend the current lightrail system from Portland to Milwaukie.  You may not be aware that only 11% of the total funds are slated to compensate landowners for their losses. 61 businesses and 12 residences will be forced to relocate.  In all the government will be taking all or part of 129 parcels.  Many commercial brokers are licking their chops at the possibility of getting new clients…RCCRE is taking it a bit further.  We created PDX Lightrail Resources, a coalition of professionals focused on helping those impacted by the project.   Our group includes:

• Real Estate Lawyers with condemnation experience to fight for your rights and full compensation of your loss
• Commercial and Residential Brokers to assist with relocation and valuation
• Commercial Appraisers
• Residential Brokers
• CPAs to explain potential gains and losses
• Accommodators to assist with proper treatment of 1033 funds

Neither Rose City Commercial Real Estate nor PDX Lightrail Resources is fighting the creation of the Milwaukie leg of the system.  We think that Portland will benefit from the project near term through creation of much needed construction jobs and long term livability. But we are committed to making sure that those impacted recieve just compensation as required by Chapter 35 of the Oregon Revised Statues and the Federal Uniform Relocation Act.

Be aware that compensation is due not only for the whole and partial “takings”, but construction easements and other compensation items need to be considered as well!

To get a list of professionals that are part of PDX Lightrail Resources, please contact me at 503.577.1034, or send me an e-mail to: rick@rosecitycre.com.

Making a difference

The Northwest Real Estate Investor’s Association has a Multifamily Focus Group that meets the third Tuesday of each month.  I’ll be co-moderating this month’s meeting with Doug Foley of the Pro Real Estate Team.  Check out the video for details!  See you there!

Many thanks-

Rick Bean, Rose City Commercial Real Estate.  503.577.1034 or, rick@rosecitycre.com

 HILLSBORO, OR-SolarWorld Group said Friday it plans to expand its five-month-old, 480,000-square-foot operation here with a new 210,000-square-foot building. The existing building serves as a production facility for the Germany-based solar panel manufacturer. The new building, slated for completion in November, will be primarily a distribution facility.

“We are fully committed to not only marketing the proven renewable energy of photovoltaic technology in the United States but also manufacturing it here,” Boris Klebensberger, SolarWorld’s chief operating officer and president of SolarWorld Industries America, said in a prepared statement. “This project further demonstrates our resolve.”

This is welcome news to an area that’s 10.9% unemployment rate is almost 2 points higher that the national average. 

www.Globest.com is a great source for business news.  They offer updates on local, regional, national and international developments that impact business owners and investors.  Globe St.’s feeds can be tailored to focus specifically on Retail, Multifamily, etc.  When you want to up to date information, think Globe St.  For excellence in Real estate, think Rose City Commercial Real Estate.

Hats off to Mr. Mark Barry, MAI…he’s closing in on 5,000 completed Apartment Appraisals.  Mr. Barry’s practice is based in Portland, OR, but his projections are followed nationwide. Mark was the featured presenter at Wednesday’s January meeting of the Portland CCIM Chapter.  Some quotes from his report:

• “The apartment market is better positioned to hold its own in 2009 than other commercial real estate markets.”
• “The days of 75% to 80% LTV, low debt service coverage rations and underwriting on proforma are now over.”
• “…what happens with the national economy and the Obama administrations success in dealing with the financial crisis will impact all real estate markets in 2009.”

Please e-mail me to get a copy of the report in its entirety:  rick@rosecitycre.com

Best of luck to all of us in 2009.

Rick Bean-Rose City Commercial Real Estate

TIME: 12:15 to 1:30 PM on Wednesday, January 7, 2008.  Luncheon is open to all: Members $35/Guests $45; $5 off early registration.

LOCATION: The Multnomah Athletic Club is located at 1849 SW Salmon St.  At over 550,000 Sq. Ft., The MAC  is the worlds largest indoor athletic club.  Phone: 503.223.6251  Web: www.TheMac.com

CCIM: There are fewer than 9,000 professionals worldwide that have earned the designation; many industry insiders refer to CCIM as the “Doctorate of Real Estate.”  The CCIM Institute provides cutting edge training on a broad range of Real Estate Investment topics, as well as signifcant networking opportunities.  The Portland Chapter meets at the MAC on the first Wednesday of each month.  Brokers network and share “Haves and Wants” from 10:00 am to noon; top tier industry specialists speak at the luncheon, 12:15 to 1:30 PM.

CONTACT RICK BEAN: PH-503.577.1034; EM- rick@rosecitycre.com If you would like:

• A copy of Mr. Barry’s 2009 Apartment Trends Report.
• Information on joining the CCIM Institute.
• To list your multifamily property.