Eleven registered bidders gathered alongside a crowd of curiosity seekers recently for a real estate auction at the Hampton Inn. On the auction block was a 24-unit apartment building in Springfield and an additional 18-unit apartment complex in nearby Oxford.
Teaming up with their Florida-based partner Tranzon Driggers, Tranzon Auction Properties began a full-scale marketing campaign in October. The campaign drew the interest of over 150 potential buyers from 22 states, Vancouver, Ontario, and even as far away as Spain.
When the hammer fell for the last time, the final sales for both building combined to total over $1.3 million.
Auctioneer Brecht Palombo, who heads up Tranzon Auction Properties' Mass. office, said, "The results of the auction are indicative that there are willing and able bidders when given the right motivation."
Tranzon Auction Properties, with offices in Maine and Mass., provides real estate solutions, including asset disposition, analysis, accelerated marketing and auction services. Tranzon Auction Properties is a member company of Tranzon, LLC comprised of 26 offices nationwide.