Columbia Ridge Apartments, a 144-unit, garden-style apartment community in the Northeast Portland submarket, has sold for $36.25 million to an undisclosed buyer. CBRE represented the seller, Fairfield Columbia Ridge LLC, an affiliate of San Diego-based Fairfield Residential, in the transaction.

Located at 15910 NE Sandy Blvd., the two- and three-story, 35-building property is situated on 9.91 acres with a parking ratio of 1.92 spaces per unit. Built in 1990, Columbia Ridge offers two- and three-bedroom floorplans averaging 940 square feet. Unit features include in-unit washers and dryers, private patios or balconies, and walk-in closets. Community amenities include a fitness center, a pool, a resident clubhouse, three playgrounds, and a basketball court.

The property provides access to Highway 84, a main arterial roadway running east and west into Portland. Columbia Ridge is within minutes of a MAX light rail station and within 20 minutes of destinations including Gresham Station shopping center, Portland International Airport, and downtown Portland’s amenities.

The post Portland apartment community sells for $36.25 million appeared first on Daily Journal of Commerce.