Prominent downtown office tower sells for 2016’s highest price

Portland Business Journal; March 7, 2017


The Pacwest Center, the 30-story tower that rises from 1211 S.W. 5th Ave., has sold for $170 million. The deal is the largest by dollar volume so far this year for office buildings in Portland.The building, the fifth-tallest in Portland, had been owned by The Ashforth Company and an institutional investor. The buyer was LPC Realty Advisors I LP, on behalf of a pension fund client. LPCRA currently has more than $2 billion worth of real estate assets under management.