CARLSBAD, CA—Locally-based Chelsea InvestmentCorp. has closed escrow on three properties in San Diegoand Imperial Counties that will provide low-income housing forseveral targeted populations.

Combined, the transactions will add nearly 260 units toChelsea's portfolio. The company has developed and financed morethan 7,681 affordable-housing propertiesthroughout California, Arizona and New Mexico since 1992.

“We are excited to be moving forward with these three projects,”said Jim Schmid, Chelsea founder and CEO. “Eachone fits into our mission to provide housing solutions for peoplein search of a quality place to live at affordable rates. Byworking with civic leaders and community organizations, we are ableto help residents meet their needs.”

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.