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Developer seeks new investors for Ritz-Carlton hotel under construction in downtown Portland By Jeff Manning, oregonlive.com Share: PORTLAND While still insisting publicly that his high-stakes Ritz-Carlton development in downtown Portland is fully funded, real estate developer Walt Bowen is again fishing for dollars from local investors. BPM Development, Bowen’s company, this week sent out invitations to various stockbrokers, money managers and other investment professionals to an online update on the Ritz project. “Join us virtually to learn about this unique OZ (opportunity zone) real estate investment opportunity,” reads an invitation. At just about a million square feet, the Ritz will cost nearly $600 million to build, making it one of the largest and most expensive real estate developments in city history. The risk of the project has soared due to the pandemic, social unrest in downtown Portland, and the lasting effect either could h ....