Fountainhead Development Acquires Pacwest Office Tower In Portland From Lincoln Property Company For $55.7M

The property asset involved in this transaction is an office building located at 1211 Southwest 5th Avenue in the market of Portland, OR. The sale concluded on 10/31/2025 for a total amount of $55,700,000, which equals approximately $102 per square foot. The total square footage of the asset is 547,992. The building is a 30-story office tower with the current leasing status at 50% occupancy.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $55,700,000
• Sale Date: 10/31/2025
• Address: 1211 Southwest 5th Avenue, Portland, OR
• Asset Size: 547,992 SF
• Price Per Square Foot: $102
• Buyer: Fountainhead Development
• Seller: Lincoln Property Company
• Brokers: Nicholas "Nick" Kucha, James Childress, Kellen Kollmorgen & Jakob Nicholls - Newmark

This transaction involved Lincoln Property Company selling the Pacwest office tower to Alaska-based Fountainhead Development. The deal highlights the ongoing challenges in the Portland office market, with a notable loss from the seller’s previous acquisition price in 2016, indicating a significant shift in market conditions. The brokerage team from Newmark facilitated the sale, involving several key brokers who played critical roles in the transaction.