Walker & Dunlop Inc. has facilitated the off-market sale and financing of the 291-key full-service DoubleTree by Hilton Tampa Rocky Point Waterfront to BlackPearl Hospitality LLC for $76 million ($261,168/key).
Walker & Dunlop’s NY Capital Markets team, led by Sean Reimer, acted as advisors on behalf of BlackPearl.
“The hotel industry is a $3 trillion asset class within commercial real estate,” said Sean Reimer, managing director, Walker & Dunlop’s NY Capital Markets team. “Hospitality has become an increasingly attractive investment opportunity, and attention to the sector has heightened under the financial adjustments caused by the worldwide pandemic.”
Originally built in 1986, the DoubleTree recently underwent a $17.9-million renovation. The hotel sits on 4.34 waterfront acres on Tampa’s Rocky Point peninsula, and is about five miles from Tampa International Airport and Raymond James Stadium, and close to the Westshore business district.
“Walker & Dunlop’s hospitality finance experts were very helpful in the advisory process,” said Michael Tacorian, founder, CIO, BlackPearl. “Given the hotel’s premier location, brand flag and market positioning, it is poised to capture a major share of demand in the area. We look forward to watching this property serve its community for years to come.”