#1,808 - Goldman Sachs gives back ”Trophy Building” in DT Portland to lender due to no tenants

The owners of Field Office, a 290,375-square-foot office complex near the Willamette River, have defaulted on their $73.8 million loan after being unable to find enough tenants, becoming the latest office owners to throw in the towel on Portland’s struggling office market.

Field Office is owned by New York investment bank Goldman Sachs and Lincoln Property Co., a Dallas-based real estate firm with operations in Portland. The pair bought Field Office from local developer Project^ and National Real Estate Advisors, an investment firm based in Washington, D.C., for $118 million in April 2019, according to public records.

In lieu of a foreclosure, the lender on the property hired real estate services company CBRE to sell the loan, according to an email obtained by WW that describes the sale.

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