Tetherow is a 700-acre luxury resort development located in Bend, Oregon, the centerpiece of which is an award winning David McLay Kidd designed Golf Course. At the time of VRE's acquisition of multiple parcels within the Tetherow project, the real estate market was in a spiraling decline. VRE entered into negotiations with other major stake holders within Tetherow in order to maximize the value of our holdings. The actions taken include parcel swaps, infrastructure completion, and cooperative marketing and branding actions. VRE has sold and developed residential lots and is constructing overnight lodging units in the form of resort cabins. The resort has an excellent reputation as a great place to "live, stay, dine and play" and VRE's profits from this holding have been accelerating.

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