CBRE Facilitates Sale of StoneRidge at Cornell Multifamily Community in Portland, Oregon

CBRE has arranged sale of StoneRidge at Cornell, a 233-unit, garden-style multifamily community in Portland, Oregon, to an undisclosed buyer.

CBRE’s Josh McDonald and Joe Nydahl represented the seller in the transaction.

StoneRidge at Cornell, situated on 16 acres at14800 NW Cornell Road, offers one- and two-bedroom units averaging 820 square feet. Built in 1985, the majority of its units have been renovated to include modern kitchen and bathroom finishes with quartz countertops, stainless steel appliances, interior paint and vinyl plank and carpet flooring. Amenities include a clubhouse, renovated fitness center, an outdoor pool, a spa and a dog park.

StoneRidge at Cornell is adjacent to Highway 26 and within a 15-minute drive of downtown Portland and a short drive of the region’s largest and prominent employers in the tech, manufacturing, fashion and healthcare industries. Additionally, the property is within several miles of the Sunset Transit MAX Light Rail station, providing connectivity to downtown Portland, Hillsboro, Portland International Airport, and many employment and recreation centers.

“StoneRidge at Cornell’s strategic location near major employers and transportation hubs, combined with the limited new supply in the Beaverton/Hillsboro area, positions it for robust rental growth and sustained demand,” said Josh McDonald.

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. Additionally, 43.8% of residents within a three-mile radius of the property rent and 52.4% of residents in the same radius are Millennials and Gen G, according to 2023 data.