CBRE has arranged the sale of 10th @ Hoyt, a mixed-use multifamily community in Portland, Oregon, in a transaction valued at $40.4 million. The property, located at 925 NW Hoyt St., combines a substantial residential component with ground-floor retail space in one of the city’s most established urban neighborhoods.
The asset totals 178 apartment units positioned above approximately 13,461 square feet of street-level retail. Completed in 2004, 10th @ Hoyt is configured as a six-story mid-rise building and offers a range of residential layouts, including studio, one-bedroom, and two-bedroom floor plans. Its design and scale align with the surrounding urban fabric of Portland’s Pearl District, where residential density and walkable retail are a defining feature.
The seller, Rise Properties, engaged CBRE to handle the disposition. CBRE professionals Josh McDonald and Joe Nydahl represented both Rise Properties and the purchaser, a family office based in California, providing brokerage services to each side of the transaction. Their dual representation underscores the role of national brokerage firms in connecting regional sellers with out-of-state private capital seeking stabilized multifamily product.
Located in the heart of the Pearl District, 10th @ Hoyt benefits from its position within a well-known live-work-play neighborhood in central Portland. The district has long been recognized for its concentration of multifamily housing, retail, and amenities, and it remains a focal point for investors targeting urban infill opportunities. The combination of residential units and ground-floor retail at the property reflects continued demand for mixed-use formats in established city neighborhoods.
In commenting on the transaction, CBRE noted that the level of interest in 10th @ Hoyt reflected ongoing investor confidence in Downtown Portland. The firm highlighted the Pearl District as one of the more active and sought-after areas within the broader Pacific Northwest market, and characterized the property as a high-quality asset within that context. The closing provides a reference point for private capital engagement in Portland’s multifamily sector, particularly for assets located in amenity-rich downtown-adjacent districts.
The acquisition by a California-based family office also underscores the role of private, non-institutional capital in the region’s multifamily investment market. While specific underwriting metrics were not disclosed, the deal illustrates continued cross-border interest in Portland multifamily properties, especially those combining established operating histories with walkable, mixed-use environments. The completed sale of 10th @ Hoyt adds another transaction data point for stakeholders tracking liquidity and buyer appetite in the city’s core neighborhoods.
