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Former owners of Freighthouse Square drop their objections to its sale to Dome District businessman

Post by Kathleen Cooper / The News Tribune on Nov. 30, 2012 at 2:19 pm with No Comments »
November 30, 2012 2:19 pm

Two former owners of downtown Tacoma’s Freighthouse Square dropped their objections to its sale Friday.

Robert and Julie Deigert had offered several reasons they believed a Pierce County judge shouldn’t approve the sale to Dome District business owner Brian Borgelt, who offered to buy it for $2.4 million. That amount is about $1.3 million less than what is owed on the loan, an amount that the Deigerts and three other couples presumably will now be responsible for under the terms of a typical commercial loan.

The sale is a matter of court approval because a receiver has been operating the building and trying to sell it for about a year. Freighthouse’s former owners defaulted on the $3.75 million loan in 2010.

On Friday, the Deigerts’ attorney withdrew their objections, which will allow the receiver and Borgelt to finalize the sale. They have until Dec. 31 to close, according to the purchase and sale agreement.

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