Grandbridge Brokers $19M Sale of Seniors Housing Community in Springfield, Massachusetts

SPRINGFIELD, Mass. — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the $19 million sale of a senior living community in Springfield, located 25 miles north of Hartford, Connecticut.

The community features a mix of independent living cottages, independent living apartments and assisted living units on a 40-acre campus.

Allen McMurtry, Dave Kliewer and Jay Jordan represented the seller, a West Coast-based senior living investor.

Qualified bidders were invited to participate in a virtual live auction of the community in late September 2020. Following more than 100 rounds of live bidding, the auction concluded. The buyer was not disclosed.

“The virtual bidding conducted via Zoom represented a very unique and successful auction format following our marketing efforts through the peak points of COVID-19,” says Kliewer. “The new ownership group has plans for significant capital improvements and has been well-received by the residents.”