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After almost three decades, Catholic Charities of Oregon plans to stop doing business March 31 with Cascade Management, one of the state’s largest managers of low-income housing.
Cascade Management handles 19 buildings for Catholic Charities of Oregon. Starting April 1, the buildings will be managed by Guardian Real Estate Services, another large, local property manager, Catholic Charities said.
“Catholic Charities of Oregon is grateful for almost three decades of work with Cascade Management to serve tenants in our affordable housing,” the nonprofit said in a statement. “But on March 31, Catholic Charities will make a change and begin work with Guardian Real Estate Services LLC. In addition to day-to-day nuts-and-bolts on-site property management for tenants, Guardian also provides asset management. That means ensuring that the overall financial and physical condition of the properties is optimal.”
“We we will be repositioning their portfolio for success,” Guardian president Tom Brenneke tells WW. Guardian manages 130 apartment complexes and owns 35 of them.
Catholic Charities did not answer questions about what spurred the change.
In a statement emailed to WW, Cascade Management president David Bachman said that ending the contract was a “mutually determined decision” that made sense for both parties.
“Catholic Charities is a very small percentage of Cascade’s portfolio that has been replaced by new clients,” Bachman said in the statement. “This is purely a business decision that makes economic sense for both parties in the long run. We respect the work Catholic Charities does and will continue supporting its work.”
Even so, the loss is a blow for Cascade Management, which, as attentive WW readers may remember, also manages the Buri Building, where tenants last year complained about non-tenants shooting up in the stairways, sleeping on couches in common areas, smoking fentanyl in the elevators, and vandalize plumbing. Last June, a woman from the neighborhood had been roaming the halls with a hatchet, tenants say.
Cascade Management is run by Bachman and his wife, Tiffany.
David has worked at Cascade Management since 1993, when he graduated from Western Oregon University with a bachelor’s degree in management consulting, according to his LinkedIn profile. In addition to running Cascade Management, Bachman is an executive at Cascade Capital Advisors, “a real estate investment advisory and asset management firm for institutional clients and high net worth individuals seeking opportunities in the real estate market in the Pacific Northwest, with the goal of creating superior risk-adjusted returns.”
Tiffany Bachman joined Cascade Management in 2013, according to her LinkedIn.
Last year, the Bachmans, who live in a $1.8 million house with a vineyard in Sherwood, blamed the Buri’s woes on Portland.
“The concerns addressed at the Buri Building and many other surrounding metro properties are unfortunately not new or exclusive,” Tiffany Bachman said in a statement. “There have been systemic issues in the immediate neighborhood, and Portland in general, that management and ownership have recognized and developed a new plan for how to operate in these challenging times, post-pandemic.”