BROOKSVILLE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Noble Senior Living at Brooksville, approximately 45 miles north of Tampa.
Located on an 8.3-acre site, the community houses 85 assisted living and memory care units. Built originally as a hotel in 1925, the community was converted to assisted living in 1984. Since that time there have been significant capital upgrades both to the interior and exterior of the asset.
The seller is a publicly traded REIT that was exiting the asset. The buyer is a Florida-based owner-operator that intends to implement a significant capital plan and restabilize the asset. The price was not disclosed.
Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
“This asset will fit in well with the Buyer’s geographic portfolio and should be an excellent addition to their portfolio as they implement their capital improvements and operating strategy,” says Clousing.