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 Real Estate Investors.
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.
The community offers independent living, assisted living, memory care and specialized dementia care through its Bridges Neighborhood program…