Block 216, home to Portland Ritz-Carlton, faces foreclosure threat

Block 216, home to Portland Ritz-Carlton, faces foreclosure threat

Ready Capital's CEO discussed taking possession of Block 216 in an earnings call this week.

Lender weighs foreclosure of Block 216 tower that houses Portland’s Ritz-Carlton

Ready Capital, which holds a construction loan that was supposed to be paid off by December, said it’s still owed at least $503 million.

Madison Realty Capital Facing Pre-Foreclosure at Eight NYC Buildings

Madison Realty Capital has been hit with six separate pre-foreclosure actions after a trio of lenders alleged the private equity firm defaulted on a total of $76 million in debt at eight residential buildings in Manhattan and Brooklyn, according to court filings. The three lenders — the Community Preservation Corporation (CPC), Neighborhood Restore and Related Fund Management — acquired Madison Realty’s debt on the buildings after it bought a $5…

Ready Capital Plans Disposition of Block 216, Ritz-Carlton Portland Mixed-Use Development - The Registry

Ready Capital Corporation (NYSE:RC) revealed new details about its significant Block 216, home to Ritz-Carlton hotel in Portland, Oregon real estate investment during its Q4 2024 earnings call on March 3rd. The commercial mortgage REIT highlighted this asset as a key component of its non-core portfolio strategy while discussing broader challenges in the commercial real estate market. The Portland Project: A Substantial Investment The Portland mi…