Third largest building in Portland, OR drops 87% in value in 5 years - $255M to $33 M

The Montgomery Park office complex in Northwest Portland has sold for $33 million to a company tied to the Menashe real estate family, according to property records filed on Friday.

On Saturday morning, Jordan Menashe, principal and chief executive of Menashe Properties, confirmed the deal in an email: “It is an honor to have the opportunity to purchase one of Oregon’s most iconic assets. We are going to do everything we can to revitalize Montgomery Park back to its glory days.”

Three family members involved in Portland-based Menashe Properties — Barry, son Jordan and daughter Lauren — initially declined to comment when reached on Friday.