CBRE announced the sale of 10th @ Hoyt, a 178-unit multifamily community with approximately 13,461 square feet of ground-floor retail space located at 925 NW Hoyt St. in Portland, Oregon, for $40.4 million.

CBRE’s Josh McDonald and Joe Nydahl represented both the seller, Rise Properties, and the buyer, a California-based family office, in the transaction. Built in 2004, the property consists of apartment homes across a six-story mid-rise building in the heart of Portland’s Pearl District. The community features a mix of studio, one-bedroom, and two-bedroom floor plans.

“We are proud to have closed 10th @ Hoyt, and the interest it drew shows real investor confidence in Downtown Portland,” said Josh McDonald, executive vice president at CBRE. “The Pearl District remains one of the most vibrant and sought-after neighborhoods in the Pacific Northwest, and it was a pleasure to guide both parties through a successful transaction on a high-quality asset.”

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