Montgomery Park went back to the lender on a foreclosure-sale credit bid of $37.7 million after borrowers defaulted on about $150 million worth of debt last year.
PORTLAND, Ore. — Montgomery Park, Portland’s third-largest office building, went back to the lender Wednesday on a foreclosure-sale credit bid of $37.7 million, a stunning 85% fall from its last sale in 2019 of $255 million.
The property at 2701 N.W. Vaughn St. underwent an auction on the steps of the Multnomah County Courthouse on Wednesday morning. Borrowers had defaulted on about $150 million worth of debt last year.
The sale closes a chapter for one of
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