November 6, 2023
BROOKSVILLE, FL — Senior Living Investment Brokerage (SLIB) has facilitated the sale of Noble Senior Living at Brooksville in this city 45 miles north of Tampa, Florida, on an 8.3-acre site. The community houses 85 assisted-living and memory-care residences. Built in 1925 as a hotel, 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.
According to a press release, the seller is a publicly traded REIT that was divesting itself of the property, while the buyer is a Florida-based owner/operator who intends to undergo a significant capital plan and re-stabilize it.
“This asset will fit in well with the buyer’s geographic portfolio,” according to SLIB Managing Director Bradley Clousing, “and should be an excellent addition to their portfolio as they implement their capital improvements and operating strategy.”
Clousing and SLIB’s Daniel Geraghty handled the transaction.