{"id":334962,"date":"2026-07-09T22:11:09","date_gmt":"2026-07-09T22:11:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/334962\/"},"modified":"2026-07-09T22:11:09","modified_gmt":"2026-07-09T22:11:09","slug":"tampa-senior-living-community-sells-for-38-5-million","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/334962\/","title":{"rendered":"Tampa senior living community sells for $38.5 million"},"content":{"rendered":"<p class=\"\">Arbor Terrace Citrus Park, a 139-unit senior living community in northwest Hillsborough County, has sold for $38.5 million to an affiliate of Principal <a href=\"https:\/\/tbbwmag.com\/real-estate\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Real Estate\" rel=\"nofollow noopener\" target=\"_blank\">Real Estate<\/a> Investors.<\/p>\n<p class=\"\">The community, at 13810 Sheldon Road, opened in 2018 and includes about 173,000 square feet across two four-story buildings on roughly nine acres. The seller was Citrus Park IL LLC, an affiliate of Santa Rosa Beach-based Rookis Development.<\/p>\n<p class=\"\">The community offers independent living, assisted living, memory care and specialized dementia care through its Bridges Neighborhood program.<\/p>\n<p class=\"\">For Principal Real Estate, the deal adds another Florida property to a portfolio that spans more than 230 real estate assets in 10 countries. The Des Moines, Iowa-based investment manager invests in a range of commercial property types, including senior housing.<\/p>\n<p class=\"\"><a href=\"https:\/\/tbbwmag.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Read the latest Tampa business news and updates<\/a><\/p>\n<p class=\"\">The buyer also took over about $31.1 million in existing Freddie Mac debt tied to the property instead of replacing it with new financing. The assumed debt consists of two loans with outstanding balances of about $27.8 million and $3.3 million.<\/p>\n<p class=\"\">The purchase comes as investors continue seeking <a href=\"https:\/\/tbbwmag.com\/2026\/07\/09\/tampa-outpatient-healthcare\/\" rel=\"nofollow noopener\" target=\"_blank\">healthcare-related real estate in Florida<\/a>, where continued population growth and an aging population are expected to support long-term demand. Those demographic trends have helped keep the state a focus for institutional investors looking for stable, income-producing healthcare assets.<\/p>\n<p>  Read More Tampa Bay Business News<\/p>\n<p>\n    Explore the latest Tampa Bay <a href=\"https:\/\/tbbwmag.com\/category\/business-news\/\" data-internallinksmanager029f6b8e52c=\"16\" title=\"business\" rel=\"nofollow noopener\" target=\"_blank\">business<\/a> news, real estate deals, development projects, executive moves and company updates shaping the region.\n  <\/p>\n<p>\n\tRelated<\/p>\n","protected":false},"excerpt":{"rendered":"Arbor Terrace Citrus Park, a 139-unit senior living community in northwest Hillsborough County, has sold for $38.5 million&hellip;\n","protected":false},"author":2,"featured_media":334963,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[135,137,136],"class_list":["post-334962","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tampa","tag-tampa","tag-tampa-headlines","tag-tampa-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/334962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=334962"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/334962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/334963"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=334962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=334962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=334962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}