91视频

A 350-unit multifamily development in Beaverton has sold to an undisclosed buyer for $91.1 million.

Emerald Place Apartments was sold by Prometheus Real Estate Group of San Mateo, California. The complex is located at 1815 N.W. 173rd Ave., slightly south of U.S. Route 26 and near Nike World Headquarters as well as Intel and health care facilities.

The transaction occurred after Emerald Place was extensively renovated from 2021 into 2024. The garden-style apartment complex was originally built in 1990 and offers units with one or two bedrooms. It also features a pool, a fitness center and other amenities.

CBRE鈥檚 Joe Nydahl and Josh McDonald represented Prometheus in the transaction.

鈥淓merald Place gained investor interest because of its amenities, the affluent and educated neighborhood demographics, and its location in Beaverton,鈥� Nydahl said. 鈥淭he 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.鈥�

Fewer than 600 new units are expected to be delivered in the Hillsboro-Beaverton area through mid-2026, and that is projected to exert upward pressure on rents, according to CBRE鈥檚 research.

The buyer鈥檚 identity was not immediately available in Washington County property records.