TBS attorney Chris Brain successfully closed a $20.7 million deal for Chainqui Development on January 15, 2015. Chainqui purchased the Sheridan Apartment building, located at 2011 Fifth Avenue in Seattle.
The Sheridan's property encompasses 57 apartment units and a parking lot. Chainqui is working with a Seattle company, Development Services Associates, to determine how to use its newly acquired property. It is likely to be turned into a mixed-use project.
Chainqui Development is a publically traded Taiwanese real estate development company that also owns the US Bank at 2401 Third Avenue in Seattle. It purchased this location in September 2014, also with the assistance of Mr. Deife, Mr. Brain and Mrs. Smith-Phifer.