Transforming a historic oyster house into a coastal hub, connecting people with traceable local seafood and Oregon's working-waterfront culture.
Funded on 11/13/2025
Bayocean Shellfish Company (Bayocean) is a coastal hospitality company rooted in Oregon’s fishing and aquaculture heritage. Founded by chef-diver Jacob Harth and hospitality leader David Sisler, the business was created to bring transparency, integrity, and local connection back to the state’s seafood culture. Their work honors the people and ecosystems that make Oregon’s coast thrive.
The historic oyster house on Tillamook Bay is being restored as a hub for regional seafood sourcing and community gathering, which includes value-added processing, retail, and restaurant space. The property is being brought back to life through a dynamic partnership between Urban Patterns, development and design partner, and the operating team, chef Jacob Harth and operations manager David Sisler. Local Bayocean LLC, led by Ben Gates and James Lee of Urban Patterns, is the entity that will own the physical space, and once operational, Bayocean Shellfish Company will serve as the operating company. Shared ownership keeps the hard asset and day-to-day execution in concert, preserving rare working-waterfront infrastructure and keeping value circulating within local supply chains. Every product will tell the story of where it was harvested, who caught it, and how it connects to the larger health of the coast.
Through traceable sourcing, waste reduction, and local partnerships, Bayocean embodies a vision of modern coastal enterprise that is both deeply rooted and forward-looking, strengthening livelihoods and celebrating the living waters of Oregon.
This real estate loan will be used to acquire the property where the new local seafood hub will be located on Tillamook Bay. Planning for the construction and renovation of the old oyster house is already underway. Once the property is acquired, the Urban Patterns team, alongside operating partners, Jacob and David, will be able to move forward with plans and permits to commence construction and get the property operational. This loan will likely be refinanced with a construction loan once all plans and permits are in place.
Bayocean partners with sustainable farmers and fishermen to promote ethical seafood practices. They focus on responsibly managing bycatch, product traceability, and use of local ingredients. Their mission is to move away from the exploitation-driven practices of multinational corporations, and instead champion the collective efforts of small-scale, local fishermen and farmers who are committed to ecological stewardship and community sustainability.
Throughout the term of this loan, Bayocean pledges to:
Ecological Stewardship
Social Stewardship
Economic Stewardship
This loan will be made to Local Bayocean LLC, an Oregon limited liability company, who will acquire a historic oyster processing facility located in Tillamook, Oregon, with the goal of redeveloping the site into a dynamic seafood hub.
The total loan amount is $485,000, which will assist Local Bayocean LLC in purchasing the oyster facility. The total contracted price for the property is $575,000. The remaining balance of the facility purchase will be contributed by owner equity. A 3 month interest reserve will be withheld from the loan proceeds to cover interest payments if the borrower is unable to meet debt obligations or to fund the final three interest payments at the end of the loan term.
This is a secured loan with a first priority deed of trust on the oyster facility as well as a UCC-1 financing statement on all assets held by Local Bayocean LLC. The borrower’s interest rate is 8.50%, with a net interest of 8.0% paid to participating lenders after Steward’s loan servicing fee is applied. The loan carries a 24-month term, with interest-only payments throughout the term, followed by a balloon payment at term maturity.
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