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Tranzon Conducts 12-Community Auction

MORRISTOWN, NJ-While there is no minimum bid, the company expects bidding to start around $17 million for the entire 183-unit portfolio.

By Alyson Grala | Updated on April 13, 2010

MORRISTOWN, NJ-Tranzon Integrated Property Group and Tranzon Fox will conduct a UCC foreclosure auction with respect to ownership rights to 12 elder care facilities in Bergen, Morris, Mercer and Somerset Counties. The portfolio will be sold as a whole and no single facility will be sold individually. Tranzon IPG will be conducting this auction through its newest office here.

“This is an unusual offering in today’s environment because we are actually selling something in the health care space that has a current operating profit as well as additional upside potential, Joshua Olshin, president of Tranzon IPG, tells GlobeSt.com.

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