The acquisition marks the firm’s third hotel investment in Downtown Tampa
NEW YORK CITY (September 5, 2023) – Newbond Holdings (“Newbond”), a real estate and hospitality-focused investment platform, announces the acquisition of the Aloft Tampa Downtown Hotel. This transaction marks Newbond’s third hotel investment on the Downtown Tampa riverfront in the last 24 months, totaling more than 700 hotel rooms and over 800 feet of frontage on the Hillsborough River.
Located on the Riverwalk in Downtown Tampa, the 130-key hotel offers an abundance of indoor and outdoor amenity space, including a waterfront pool and gym, corporate meeting and event space, and a bar and lounge. Newbond is planning a comprehensive hotel renovation to include all guestrooms, public areas, and the pool deck.
“Our third hotel investment in Downtown Tampa since 2021 demonstrates our conviction in the long-term Tampa growth story,” said Neil Luthra, Founding Partner at Newbond. “Tampa’s robust job and population growth, flourishing convention and tourism business, and continued institutional investment have created one of the strongest real estate and hospitality markets in the country.”
The Tampa metro area’s strong population growth is driving an expected $13 billion in new development projects over the next few years. The city’s impressive development pipeline will continue to transform Tampa into a bustling hub of culture, commerce, and entertainment. Notable projects include the master-planned Riverwalk District, the expansion and redevelopment of the Tampa Museum of Art, the 50-acre mixed-use Gas Worx development, expansion plans at Tampa International Airport, and Phase II of Water Street Tampa.
Newbond acquired the Hotel Tampa Riverwalk, formerly the Sheraton Tampa Riverwalk adjacent to the Aloft, in October 2022. In addition, Newbond also acquired the Westin Tampa Waterside in the nearby Harbour Island area in 2021.
JLL’s Hotels & Hospitality Group arranged the acquisition financing for Newbond. The Plasencia Group brokered the sale of the hotel on behalf of the seller.
For more information, visit www.newbond.com.