A Florida-based owner/operator bought an older assisted living community located about 50 miles north of Tampa, in a deal handled by Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage. Originally built as a hotel in 1925 and converted to assisted living in 1984, Noble Senior Living at Brooksville has 85 units of AL and memory care. Since its conversion, it has received significant capital upgrades to both the interior and exterior of the asset.
Its publicly traded REIT seller was exiting the last remaining assets in this portfolio, prompting the sale. The in-state buyer has existing locations in the region, so the asset fits well into its geographic portfolio. Its scale should help the new owner re-stabilize the community. The purchase price was not disclosed.
