{
"markdown": "Portland OR, Mixed-Use\n\n\n[ORANGE_DOTTED_SHAPE]\nREADY CAPITAL\u00ae\n\n\n\n\nA high-angle, wide-shot photograph of a dense urban cityscape during sunset. The focal point is a prominent, tall modern skyscraper with a glass facade that reflects the sky. The building has a stepped, tiered design with a lighter-colored base and a darker, reflective upper section. The surrounding city consists of various mid-rise and high-rise buildings of mixed architectural styles, interspersed with green trees. The sky above is a gradient of soft purples, pinks, and blues, indicating either sunrise or sunset. The lighting is warm and golden, casting long shadows and highlighting the reflective surfaces of the glass buildings.\n\n\n\nThe figure consists of two photographs depicting a luxury interior space. The top image shows a modern living room with floor-to-ceiling windows offering a city view, a curved beige sofa, a wooden coffee table, and a wall-mounted television, with a doorway leading to a bedroom. The bottom image displays an indoor swimming pool area with a mirrored ceiling, floor-to-ceiling windows overlooking a city skyline, and a row of lounge chairs with white towels, accented by potted plants in the foreground.\n\n\n\nA high-angle, wide-shot photograph of a sophisticated, modern restaurant interior. On the left, a long, curved, dark-upholstered booth bench follows the wall, with several square dining tables arranged alongside it. Each table is set with wine glasses and cutlery. To the right, individual dining chairs with light-colored woven backs are paired with matching tables. The ceiling features a distinctive, undulating wave-like structure made of dark wood slats, illuminated by recessed lighting. Large floor-to-ceiling windows line the far wall, revealing a bright exterior view. In the background, a bar area is visible with warm lighting and a tiered structure. The overall color palette is warm, utilizing wood tones, dark upholstery, and soft, ambient lighting.\n\n# QUARTERLY UPDATES\n\n- Successful re-launch for the residential condominium and office components in late Q4, with strong participation from\nleading Portland residential and office brokers.\n- Following the marketing re-launch, demand for residential units increased materially resulting in executed\nReservation Agreements with deposits for twenty-five (25) condominiums.\n- Hotel revenue performance has improved year-over-year, with total revenue up 6%, driven by a 2.5% increase in\noccupancy, a 4.9% increase in ADR, and an 11.7% increase in RevPAR compared to 2024.\n- Marriott implemented a targeted room rate reduction strategy in the closing months of 2025 for guests from the\nPacific Northwest region and for longer-term guest stays, which resulted in stronger December 2025 revenue\nperformance compared to the SPLY, yielding a 14% increase in occupancy and 32% improvement in RevPAR.\n\n\nRITZ-CARLTON HOTEL\n- 251 rooms (floors 8 \u2013 20)\n- Amenities:\n- Lobby lounge\n- Bellpine restaurant and bar;\nMeadowrue restaurant\n- Ritz-Carlton Club\n- Meeting & Event space\n(12,222 sf)\n- Business center\n- Fitness center, full-service\nspa and swimming pool\n\n\n### Key Metrics (12/31/2025 TTM) \n- Occupancy: 42.6% \n- ADR: $492 \n- Room RevPAR: $210 \n- Total RevPAR: $360 \n\nOFFICE/RETAIL\n- Class A office: 158,577 sf (floors\n3\u2013 7)\n- Office Tenants:\n- Davis Wright Tremaine LLP\n- Fisher & Phillips\n- Banneker Partners\n- Retail: 10,638 sf (floors 1\u2013 2)\n- Retail Tenants:\n- The Flock (food hall)\n- Mahler Jewelers\n\n\n# RITZ-CARLTON RESIDENCES\n\n\n - 132 Ritz-Carlton branded\ncondominium residences\n - Located on floors 21 \u2013 35\n - Avg. Unit SF: 1,688\n - Amenities:\n - Balcony or terrace\n - Dedicated lobby\n - Hotel amenity access\n - Private rooftop terrace (8th\nfloor)\n\n\nKey Metrics (12/31/2025 Rent Roll)\n\n