Lender forecloses on Montgomery Park, Portland’s third largest office building

Montgomery Park will go up for sale to the highest bidder on Feb. 14, 2024 outside the Multnomah County Courthouse, the documents state.

PORTLAND, Ore. — A lender is foreclosing on a loan tied to the Montgomery Park office complex owned by Unico Properties and Partners Group, the latest seismic event in Portland’s faulty office market.

Borrowers owe $149.7 million, according to a “notice of default and election to sell” filed with Multnomah County on Sept. 29. Partners, a global investment management firm, and Seattle-based Unico bought the 18-acre Montgomery Park in 2019 for $255 million.

The property sits at 2701 Northwest Vaughn Street.

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