Principal Real Estate Investors Acquires Arbor Terrace Citrus Park Senior Housing For $38.5M

The 13810 Sheldon Road property, located in Tampa, FL, is a senior housing community spanning 9 acres. The asset, which was built in 2018, features 173,000 square feet and comprises 139 units. It was sold for $38.5 million, translating to a price per square foot of $223 and a price per unit of $276,978.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $38,500,000
• Square Footage: 173,000
• Address: 13810 Sheldon Road
• Market: Tampa, FL
• Acreage: 9
• Units: 139
• Price Per Unit: $276,978
• Price Per Square Foot: $223
• Buyer: Principal Real Estate Investors
• Seller: Ricky Rookis - Rookis Development
• Debt Assumed: $31.1 million in existing Freddie Mac debt

An affiliate of Principal Real Estate Investors acquired Arbor Terrace Citrus Park, which offers independent living, assisted living, memory care, and dementia care services. This acquisition expands Principal Real Estate's senior housing portfolio in Florida.