CBRE Arranges $30.7 Million Sale of Grant Park Village Quimby in Portland, Oregon

CBRE has arranged the sale of Grant Park Village Quimby, a 167‑unit multifamily community located at 1580 NE 32nd Avenue in Portland, Oregon. The property sold for $30.7 million.

CBRE's Joe Nydahl and Josh McDonald represented both the buyer and the seller in the transaction, along with support from CBRE Debt & Structured Finance's Scott Williams and Ryan Jameson. Capstone Partners and PCCP, a commercial real estate investment manager, sold the property to Laurel Property Group.

“Grant Park Village Quimby represents exactly the type of institutional‑quality, transit‑oriented asset that investors are seeking in today’s market,” said Joe Nydahl, executive vice president at CBRE. “The property’s finishes, location fundamentals and the limited future supply pipeline in the Grant Park submarket position it well for long‑term performance.”

Completed in 2018, Grant Park Village Quimby comprises 167 studio, one‑ and two‑bedroom units averaging 554 square feet. The mid‑rise community features modern unit finishes and a range of resident amenities, including a fitness center, resident lounge, outdoor courtyard and pet spa.

The property is located in Portland’s Grant Park neighborhood and sits adjacent to its sister property, Grant Park Village Henshaw, which includes a mix of neighborhood‑serving retail such as New Seasons Market, Mud Bay, Grant Park Dentistry and Riverbend Veterinary Care. Residents also have convenient access to nearby grocery stores, dining and retail options, as well as public transit.