A California-based apartment developer has bought Chelsea Heights in Tacoma, has an offer in on Albers Mill and its eyes on other properties in the city.
ColRich, headquartered in San Diego, bought Chelsea Heights for $18.8 million earlier this month, two years after a Seattle-based company snapped it up for $15 million after a bank foreclosed on the Prium subsidiary that owned it. (You remember Prium, right?)
Jim Jensen of Hendricks-Berkadia, who brokered the deal, told me this afternoon that news of State Farm’s plans to expand to downtown Tacoma helped seal the deal for ColRich. …