Newbond acquires Aloft Tampa Downtown

Newbond Holdings has acquired the Aloft Tampa Downtown. This transaction marks the company’s third hotel investment on the downtown Tampa riverfront in the last 24 months, totaling more than 700 hotel rooms and more than 800 ft. of frontage on the Hillsborough River.

Located on the Riverwalk, the 130-key hotel offers 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, 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, according to the company. The city’s development includes 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.