JLL arranges acquisition financing for Newbond Holding’s acquisition of the Aloft Tampa Downtown
$29.6M in acquisition financing secured for 130-key hotel in Florida
NEW YORK CITY, Sept. 11, 2023 – JLL’s Hotels & Hospitality Group announced today that it has arranged a $29.6 million floating-rate term loan to acquire and renovate the 130-key Aloft Tampa Downtown located at 100 West Kennedy Blvd in Tampa, Florida.
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 story. The hotel is located within walking distance of Water St., the 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 U.S.”
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels 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. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.