Lincoln Property Company Selected to Manage Block 216 Mixed-use Tower for Ready Capital

Portland, OR — July 22, 2025 — Lincoln Property Company (“Lincoln”), a global full-service real estate firm, has been selected by Ready Capital as its local operating partner for the company’s newly acquired mixed-use asset known as Block 216 Tower in downtown Portland, Oregon.

Block 216 totals more than 1.1 million square feet, composed of a 251-key Ritz-Carlton hotel, a 132-unit Ritz-Carlton Residences, 159,000 square-feet of Class-A office space, and 11,000 square-feet of retail space, including the Flock food hall.

“Block 216 represents the most impressive mixed-use experience in the city and is ideally located in the West End, with immediate access to the city’s best amenities,” stated Travis Drilling, Lincoln’s Executive Vice President of the Pacific Northwest.

“We are pleased to partner with Ready Capital to manage and help stabilize this terrific asset, which we believe will contribute meaningfully to the resurgence of Portland, a city we are deeply involved in.”

Key immediate stabilization activities Lincoln will focus on include relationship building among tenants, management, and ownership while addressing back-of-house and central plant systems, warranty and closeout items remaining at takeover, and opportunities to control costs. At the same time, a robust updated marketing campaign will be launched to influence local perception and reach an international audience with the goal of meeting a new, aggressive lease-up schedule.

This property and asset management assignment will build on Lincoln’s strong presence in the Pacific Northwest, where the company already owns or manages nearly nine million square feet of office, mixed-use, industrial, and retail space.

About Lincoln
Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-use properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit: www.lpc.com.