Owen Blank

Owen Blank

Partner

503.802.2011
owen.blank@tonkon.com

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Services & Industries

Education

J.D., Stanford Law School

B.A., with great distinction, Political Science and Economics, Stanford University, Phi Beta Kappa

Bar & Court Admissions

Oregon State Bar
U.S. Supreme Court
U.S. Court of Appeals for the Ninth Circuit
U.S. District Court for the District of Oregon

Owen has an extensive range of legal experience in business, commercial, real estate, and corporate matters. Among the clients he represents are small family-held businesses, national and international corporations, nonprofit organizations, and charitable foundations. His industry experience includes manufacturing, retail, sports, media, entertainment, and technology. He has also represented foundations and governmental entities in making alternative investments.

Representative transactional matters Owen regularly handles include:

  • Real estate sales, acquisitions, financing, and investment transactions
  • Business mergers, acquisitions, and dispositions
  • Professional sports and media matters
  • Business contracts
  • Nonprofit organization formation, mergers, and dissolutions
  • Alternative investment transactions on behalf of public and private investors

Owen’s experience also includes counseling nonprofits on their governance, operational, and investment issues. He has served as a member, officer and/or director of many civic, professional, and nonprofit organization committees, task forces, and boards of directors. For over 30 years, Owen and his colleagues at Tonkon Torp have provided pro bono legal services to Albina Head Start, which serves approximately 1,000 children and their families.

Representative Matters

Sale of High Profile Downtown Portland Mixed-Use Property

Represented client members of the seller in the sale of a 17-story high profile downtown Portland mixed-use property that includes ZGF's world headquarters, luxury apartments, and ground floor retail.

Formation of Qualified Opportunity Fund

Formed and organized a Qualified Opportunity Fund, Qualified Opportunity Zone Business, and Fund Manager for purposes of investing in real estate located in an opportunity zone in Portland, Oregon.

Acquisition of a Metals Recycling and Processing Company

Represented the purchaser in a complex two-stage strategic acquisition of a metals recycling and processing company and associated real estate entities for expansion into a new region of the country.

Representation of Automobile Dealers

Represented automobile dealers in purchases and sales of franchises and in contractual and other matters with automobile manufacturers.

Represented Minority Shareholders

Represented minority shareholders in the sale of a nationally known, privately held consulting firm to a publicly held company.

Sports Contractual Matters

Have represented professional baseball, soccer and basketball franchises as well as NBA executives, coaches and players, and sports marketing companies in various contractual matters.

Complex Real Estate Reorganization

Completed the acquisition of six tenancy-in-common and 10 LLC interests in a complex series of transactions which effectuated the separation of multiple owners from other multiple owners. Required a combination of real estate and LLC reorganization transactions. 

Milwaukie Light Rail Condemnations

Represented various owners in connection with condemnations resulting from the Milwaukie Light Rail extension.

Like-Kind Exchanges

Represented various clients in complex like-kind exchange transactions.

Purchase of Inner-Eastside Retail Center

Represented purchaser in acquiring inner-eastside retail center.

Represented Land Owner with Joint Venture Development

Represented land owner in connection with a joint venture development of a multi-story retail, office, apartment complex in downtown Portland.

Agreement with Portland Community College

Negotiated and documented a unique agreement with Portland Community College to provide on-campus Head Start Program.

Investments in Alternative Investment Funds

Represented nonprofit foundations and nonprofit institutions with respect to investments in alternative investment funds (hedge funds, private equity funds, and similar investment vehicles) with investments ranging from $500,000 to $100,000,000.

Complex Reverse Exchange

Owen Blank and Kimberlee Stafford led the Tonkon Torp team in guiding the client through executing a complicated reverse exchange, which involved the purchase of 10 real property interests and the sale of one real property interest pursuant to Section 1031 of the Internal Revenue Code, as amended, and the Treasury Regulations promulgated thereunder. These carefully timed transactions also involved the client's exercise of a put option under the controlling ground lease, the termination of numerous tenancy-in-common agreements, the assumption of dozens of leases, and the coordination of tenants, counter-parties and their counsel, two title companies, and the exchange accommodation titleholder/qualified intermediary company.

Purchase of Portland Property

Represented purchaser in acquiring half-block of downtown Portland property with known environmental issues for future development.

City Center Parking Acquired by Canada-based Impark

Represented the general partner in the sale of Portland's largest local parking management and services company to an international firm. The company operated approximately 200 lots, mostly in the core of the City. Transaction included contractual arrangements for 28 lots owned by affiliates of the company's owners.

Portland’s First Living Building in the Heart of Downtown

On March 31, 2020, Owen Blank and Rachel Atchison helped their client close on the beginning of Portland’s first living building, which will be located at SW 1st Avenue and SW Pine Street. The “Living Building” will meet the world’s most stringent sustainability standards. It will have many amazing attributes, like use of filtered heat recovery ventilation and cross-laminated timber certified by the Forest Stewardship Council.

Tonkon Torp Helps Albina Head Start Purchase Property for Community Cornerstone

Attorneys from Tonkon Torp’s Real Estate & Land Use Practice Group are celebrating a successful real estate purchase for pro bono client Albina Head Start (AHS). For more than 40 years, AHS has leased space at a former church building in NE Portland for its Tina Clegg Center. The Center, a community pillar for one of Portland’s historic communities of color, houses both a Head Start program serving 60 low-income families and AHS administrative offices that coordinate and provide services for numerous additional families.

Tonkon Torp Attorneys Help Secure Portland’s First Five-Star Hotel Project

Tonkon Torp played a foundational role in paving the way for Oregon’s first five-star hotel development, the 35-story Ritz-Carlton hotel in downtown Portland. Attorneys from the Real Estate & Land Use Law Practice Group represented their client, the landowner, in negotiating an agreement to enter into a ground lease (AEGL) with BPM Real Estate Group, a Portland-based developer, assisting with the fulfillment of the AEGL’s conditions, and closing the transaction with the parties entering into the ground lease itself.

Albina Head Start Turns on First Solar-Powered Building with Assist from Tonkon Torp

When Albina Head Start learned it was awarded a Blue Sky Fund grant to install a rooftop solar array on one of its buildings, it turned to its long-time pro bono legal partner, Tonkon Torp. The nonprofit organization knew that it would need legal guidance to ensure that it could meet the terms laid out in the grant’s detailed and binding Memo of Understanding.

Tonkon Helps Tonkin

For decades, Tonkon Torp has been honored and proud to represent the Tonkin family and its businesses. In fact, the relationship dates back to the post-World War II era.

Tonkon in the Driver’s Seat for Fast Dealership Purchase Ride

Auto dealership sales are generally straightforward affairs that frequently involve both business and real estate assets. In 2015, Tonkon Torp got involved in a purchase transaction that took a unique turn. Find details and more featured cases here.

Tonkon Torp Helps Albina Head Start Stabilize Finances for Enhanced Programming

Albina Head Start, Inc. (AHS), which serves more than 1,000 low-income children and their families in North, Northeast and Southeast Portland, faces the future in a stronger financial position thanks to a significant pro bono effort by Tonkon Torp. Find details and more featured cases here.

Tonkon Torp Finds Solution to Property Purchase Dilemma

Tonkon Torp attorneys Owen Blank and Max Miller represented the buyer in a recent purchase of Portland area property that was previously the site of a gas station and had contaminated soil that presented potential liability and development risk issues.

Community Involvement & Activities

Portland Metro Chamber
Former Board Chair & Legal Counsel

Cedar Sinai Park, Oregon Sports Authority, Edison High School, and Oregon Jewish Community Foundation
Former Board Member and/or Officer

Multnomah Bar Association
Former Member of Indigent Defense, Public Service, Insurance, and Equity, Diversity & Inclusion Committees

Oregon State Bar
Former Member of Continuing Legal Education and Joint Attorney CPA Committees, and Fee Arbitration Panel


Professional Memberships

American Bar Association
Multnomah Bar Association

The Best Lawyers in America

2008-2024, Corporate Law
2008-2024, Mergers & Acquisitions Law
2008-2024, Real Estate Law
2023, Lawyer of the Year – Real Estate Law, Portland

Chambers USA

2021-2024, Real Estate

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Super Lawyers

2006-2023, Oregon Super Lawyer – Business/Corporate

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The Don Marmaduke Community Service Award

2024

Multnomah Bar Association/Legal Aid Services of Oregon/Oregon Law Center

2015, Pro Bono Award of Merit

Albina Head Start

2014, Dedication of Owen D. Blank Head Start & Early Head Start Center (in honor of years of pro bono support)

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Oregon Association of Minority Entrepreneurs

Member Service Award

Oregon Coalition for Promoting Physical Activity

Outstanding Advocacy for Physical Education

Portland Business Alliance

Leadership Award

Tonkon Torp Launches 50th Anniversary Firm Awards Program

In celebration of its 50th anniversary, Tonkon Torp LLP has launched a new internal awards program in tribute to four of the firm’s historic leaders: founding partners Brian Booth, Don Marmaduke, and Moe Tonkon, and long-term Administrator Caroline Phillips. The program acknowledges and celebrates the Tonkon Torp values of community service, client service, and service to the firm, as well as recognizes those current attorneys and staff who embody these principles.

Chambers USA 2024 Ranks 28 Tonkon Torp Attorneys

Chambers USA has recognized 28 Tonkon Torp attorneys in eight practice areas in its 2024 Guide.

Best Lawyers in America® Includes 49 Tonkon Torp Attorneys on 2024 List

Forty-nine Tonkon Torp lawyers representing 36 practice areas have been selected for inclusion in The Best Lawyers in America® 2024. All of the attorneys have been previously named to the peer-review list, and most have been listed for more than 10 years.

39 Tonkon Torp Attorneys Honored on 2023 Super Lawyers Lists

Thirty-nine Tonkon Torp attorneys in 12 practice areas have been included in the 2023 Oregon Super Lawyers or Rising Stars lists.

Chambers USA 2023 Ranks 26 Tonkon Torp Attorneys

Chambers USA has recognized 26 Tonkon Torp attorneys in eight practice areas in its Chambers USA 2023 Guide.

All News Items

New Legislation May Give Opportunity Zones New Attention

By Owen Blank – Opportunity Zones (OZs) and their tax incentives haven’t been getting much notice these days in either business or legal media. If pending legislation passes, this will likely change and bring new attention to this development tool.

Section 1031: What is Real Property? Four Things You Should Know From the New Final Regulations

Effective December 2, 2020, the IRS issued its Final Regulations (the “Final Regs”) clarifying what is real property under Section 1031 of the Internal Revenue Code.

IRS Proposes New 1031 Regulations – Sculptures Are Real Property, Walls Are Not

The IRS issued Proposed Regulation 117589-18 on June 11, 2020 (the “Proposed Regs”), in response to legislative changes applicable to like-kind exchange transactions (“1031s”). The Proposed Regs address transactions involving both real property and personal property given that under the Tax Cuts and Jobs Act personal property is no longer eligible for like-kind exchange treatment.

Top Three Investor-Friendly Rules from the Newest IRS Opportunity Zone Notice

The IRS issued Notice 2020-39 on June 5, 2020 in response to the COVID-19 pandemic, which extended several deadlines applicable to Opportunity Zone investments.

Opportunity Zones: A Threequel

Last month the IRS issued additional guidance in the form of more proposed regulations. The latest guidance is generally favorable to real estate investors, and reflects continuing efforts by the Government to promote the purposes and intent of the Opportunity Zone legislation. In this post, I will briefly discuss my top picks related to real estate from the important answers we received in this second round of guidance.

All Ear to the Ground Blog Items

Publications & Presentations