Portland’s Luxury Skyscraper Faces Financial Crisis: $85MM Underwater as Investors Battle

In a stark illustration of post-pandemic commercial real estate challenges, Portland's newest luxury skyscraper and home to the Ritz-Carlton hotel finds itself $85 million underwater, according to court documents filed by its primary lender, Ready Capital. The gleaming 35-story Block 216 tower, which opened in 2023 with ambitious plans featuring hotel rooms, multimillion-dollar condominiums, and […]