CBRE Facilitates $91.1 Million Sale of Emerald Place Multifamily Community in Beaverton, Oregon

CBRE has arranged the $91.1million sale of Emerald Place, a 350-unit, garden-style multifamily community in Beaverton, Oregon, to an undisclosed buyer.

CBRE’s Joe Nydahl and Josh McDonald represented the seller, Prometheus Real Estate Group, Inc., in the transaction. CBRE’s Northern California Debt & Structured Finance team, led by Andrew Behrens and Jesse Weber, provided the Fannie Mae financing for the buyer.

Emerald Place was built in 1990 and extensively renovated in 2021 through 2024 and offers 350 garden-style one and two-bedroom units. Each apartment features a washer-dryer, walk-in closets, private patios with storage, and select units offer wood-burning fireplaces and additional storage. The property includes amenities such as a large pool, sauna, hot tub, round-the-clock fitness center, racquetball facilities and a coworking lounge. Located in Beaverton, Emerald Place is situated in one of the most desired areas of suburban Portland, proximate to some of technology’s biggest employers as well as an abundance of lifestyle amenities.

“Emerald Place gained investor interest because of its amenities, the affluent and educated neighborhood demographics, and its location in Beaverton,” said Joe Nydahl. “The Hillsboro/Beaverton area currently has a high demand for multifamily apartments, coupled with a limited supply, which positions it for strong and steady rental growth.”

The limited delivery of new supply in Beaverton/Hillsboro, with fewer than 600 new units expected through Q2 2026, is projected to exert upward pressure on rents in the area, according to CBRE research.