NEW YORK CITY—JLL’s Hotels & Hospitality Group announced it has arranged a $29.6 million floating-rate term loan to acquire and renovate the 130-key Aloft Tampa Downtown.
JLL represented the buyer, Newbond Holdings, to secure the loan through the lender, CIM Group.
The Aloft Tampa Downton is one of only three hotels located on Tampa’s 2.6-mile Riverwalk in Downtown Tampa and is at the epicenter of Tampa’s downtown growth. The hotel is located near Water Street, the Tampa Convention Center, Amalie Arena, Armature Works, The University of Tampa, and Tampa General Hospital.
The JLL team was led by Hotels & Hospitality Group Americas CEO Kevin Davis and Managing Director Mark Fisher.
“The financing represents an endorsement of the Tampa hospitality market. Tampa has been one of the top three U.S. lodging markets in terms of RevPAR growth between 2019 and Q1 2023 and the incredible market response to this financing is reflective of the capital markets sentiment around Tampa,” said Davis. “Strong population growth, corporate migration, significant development activity, and the return of leisure and group travel have all contributed to making downtown Tampa one of the most dynamic hotel markets in the United States.”
