NEW YORK CITY, New York—JLL’s Hotels & Hospitality Group announced that it has arranged a refinancing for the Aloft Tampa Downtown, a 130-key hotel located in Tampa’s urban core.
JLL worked on behalf of Newbond Holdings to secure a five-year, floating-rate loan provided by funds managed by affiliates of Fortress Investment Group.
The Aloft Tampa Downtown is within walking distance of attractions such as Water Street, the Convention Center, Amalie Arena, Armature Works, the University of Tampa, and Tampa General Hospital.
Originally constructed in 1965 as a bank branch, the nine-story building was converted into a hotel in 2014. The hotel includes 130 rooms, two food and beverage outlets (bar and breakfast), a large lobby, an outdoor pool and deck overlooking the Hillsborough River, a 738-square-foot meeting room, a gym, and on-site valet parking.
The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mark Fisher, Senior Directors Jillian Mariutti and Wyatt Krapf, and Analyst Martha Duff.
“This refinancing recognizes Aloft Tampa Downtown’s exceptional performance and Newbond Holdings’ strategic improvements,” said Davis. “The hotel’s RevPAR consistently outperforms its competitive set, and this new financing will enable the sponsor to further capitalize on Tampa’s dynamic market, driven by record population growth and corporate investment.”
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotel and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation, and asset management assignments.
