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Bridge Investment affiliate acquires seniors housing operator Somerby

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Bridge Investment affiliate acquires seniors housing operator Somerby

An affiliate of private real estate investment management firm Bridge Investment Group acquired seniors housing operator Somerby Senior Living Services for an undisclosed sum.

Bridge Seniors Housing Fund Manager LLC also purchased a nine-property portfolio of class-A seniors housing assets in southeastern U.S. markets.

Somerby's David Grady will continue to lead the company post-acquisition, Bridge Investment said in a release.

Somerby has 20 corporate-level employees and more than 1,350 property-level employees. The properties managed by the company are more than 94% occupied.