Menashe Properties, a family-owned commercial real estate business with a focus on the Pacific and Mountain West United States markets, has purchased Montgomery Park in Portland for $33 million. The nine-story office building spans 756,000 square feet and is located at 2701 N.W. Vaughn Street.
According to reports from The Oregonian, Menashe Properties bought the property from Unico Properties and partners who acquired it in 2019 for $255 million from the Bill Naito Co. However, due to defaulting on $149 million in debt tied to the property, Montgomery Park went into foreclosure in 2023.
Built in 1921 as an iconic asset of Oregon’s history, Menashe CEO Jordan Menashe expressed his excitement about restoring it back to its former glory days: “It is an honor to have the opportunity to purchase one of Oregon’s most iconic assets…We are going do everything we can revitalize Montgomery Park.”
