BPM Real Estate Group, the firm led by prominent Portland developer Walter Bowen, has handed the keys to his high-rise Broadway Tower hotel back to the lender to resolve a dispute over the building’s bad debt.
A deed filed with Multnomah County and reviewed by The Oregonian/OregonLive shows an entity tied to Bowen’s BPM has transferred the hotel portion of Broadway Tower back to the lender.
It’s a remarkable reversal of fortune for Bowen and emblematic of Portland and the hospitality industry’s broader struggles to rebound from the COVID-19 pandemic…