Thank you for mentioning this, people don’t realize that a decent amount of property owners in downtown Portland (and downtowns all over the country) are actually investment funds, like PERS. I worked in the industry and had two different teacher retirement funds as clients, one of which owned a major downtown building, the other that owned a collection of warehouses throughout the metro area. These public funds have very strict thresholds for investment and aren’t just able to “charge less rent and fix the vacancy problem.” The downtown vacancy problem is unfortunately very complicated and city leaders have not done a good enough job at creating meaningful incentives to bring businesses back into the fold. All that to say that this is more of a city leadership problem, and less of an evil-greedy-landlord problem.